The Benefits of Requiring Renter’s InsuranceJune 11, 2015
Fire Safety in the HeatJuly 7, 2015
Upgrading Amenities to Stay on Top
Renters often list the cost of rent as their number one factor in deciding which rental to take. However, with many rentals of similar rent available, the next item on their list is the amenities. Amenities can be defined as loosely as a near by hiking trail or even a coffee shop next door, so think larger than just the onsite laundry and the swimming pool. Upgrading your amenities and remembering to include even the offsite features in your ads is a must for property managers in Tacoma to attract renters over the competition.
It is true that many rental properties have been upgrading to granite counter tops, stainless steel appliances, and stylized fixtures over the last decade. May apartment homes more closely resemble new condos than they do apartments of old. This is not a bad route to go, as your competitors have probably done the same.
What are some ideas that apartment managers can implement to increase rental appeal?
- Community Gardens – This is an ever increasingly popular pastime for many renters, young and not so young. If you do not have any ground level space, how about a rooftop garden? Raised boxes are relatively inexpensive to install and can be a very attractive amenity for many.
- Yoga Classes – Even if you don’t have a gym space, you may have a lobby area or other space where you can offer yoga and/or Thai Chi classes a few times a week. This can be even more enticing than a gym for many, and it doesn’t take an investment in expensive workout equipment.
- Dog Parks – Being pet friendly is definitely a competitive edge. While some property managers try to dissuade pet ownership by enforcing exorbitant deposits and fees, this excludes a large group of potential renters. By creating an off-leash play area and installing poo-bag dispensers and garbage cans to encourage responsible pet ownership, you have added a desirable and competitive amenity.
- Cyber Cafes – Rent out a small area to a local coffee cart, set up free wifi, add some tables and chairs, and voila! You have an internet cafe to boast of in your ads. Add in some themed meetup groups, like book club Mondays, cinema enthusiasts Tuesdays, etc. and you have an amazing amenity. You can ask residents to vote on what meetup groups to offer from year to year.
These are just a few ideas to increase the amenities you have to offer new residents. For more information and ideas on property management in Tacoma, contact Olympic Rental & Landlord Services.