We understand that one of the major aspects that decides whether a tenant will rent your house or not is the rental cost. The rent that they’ll pay every month, the upfront cost, cost for additional amenities, and other expenses will all be taken into consideration by every tenant that walks in. If the final cost fits within the budget and if a tenant feels that what they’ll be paying for will be worth it, you will soon have a tenant. But this isn’t the only factor that will influence any potential home renters. Here are a few more factors that matter.
Factors That Will Affect Positively
1) Number of Bedrooms
The foremost thing that will affect the decision of most potential tenants is the number of bedrooms and/or bathrooms in a house. Depending on their family size, every tenant will have certain expectations from their future rented house. If your house has the number of bedrooms and bathrooms that a particular tenant is looking for, then they may proceed to the next steps and finalizing the deal. But if you have less or more rooms in your house, a tenant would prefer looking for something relevant rather than wasting your as well as their time. The same rule applies to the total square footage of the house. Too big or too less, and the tenants will walk away.
The amenities inside and outside your house play a major role. If you have features in your home such as a garage, patio, home deck, balcony, basement, or anything else, you have a higher chance of attracting tenants looking for similar amenities. Often, these additional features are more than necessities for many potential tenants. But there’s a catch here, the budget. If these interested tenants have a good budget to afford the facilities you have, you may have a higher chance of closing the deal successfully.
3) Security Measures
In today’s world, we all want to be safe and wish the same for our family members. This is the reason why homes installed with CCTV cameras, motion sensors, alarm systems, fire safety equipment, and other safety and security systems tend to get chosen faster than homes that don’t have such facilities. If your home has some or a lot of security systems, tenants will be attracted to your house and would want to rent it. And people don’t generally have issues in paying some extra rent if they get peace of mind and sense of security. Actually, these features will save their money that they would’ve otherwise invested to secure the property.
4) Easy Accessibility
Think of people who don’t own a car or bike. If your house is centrally located with at least one bus and train station and other public transport facilities, you will have a better chance of renting your home. This is because nobody wishes to walk for miles just to access a metro, bus, or transit. If transport facilities are available in the walkable distance of your property, you have an extra point over other homes on rent that don’t have such ease.
5) Pet Allowance
If you are open to renting your home to tenants who have a pet, you will get more leads easily. A lot of people in Edmonton today have a pet. And pet allowance is one of the most serious points in the checklists of pet-owning tenants when looking for a rental property. If your house meets their needs, they will visit your place and take a closer look. But if you aren’t comfortable with pets living in your home, you are going to lose out on a serious number of potential tenants in Edmonton.
Factors That Will Affect Negatively
6) Unkempt Home
When potential tenants start visiting your place, you will have to keep your home ready, and that goes without saying. If you think that an unkempt home will help you in closing the deal faster, you are mistaken. Nobody wants to see a dirty, messy, shabby, and out-of-the-place house when they visit for open houses. This prevents tenants from viewing the house properly and also sends out a wrong message about you as the owner. So make sure your house is ready before a tenant walks in.
7) Plumbing and Electrical Issues
Just like a dirty and messy house, a house with several problems also demotivates tenants to consider it. Suppose your electrical issues or has 1-2 leaky faucets. A tenant wouldn’t want to deal with these issues after they move in. Although you, as the owner, will look after the repair expenses. But what about the difficulties that the tenant and their family will have to face? You can’t repair that. So, to stay away from hectic days and serious nightmares of encountering problems, tenants would prefer staying away from homes that have plumbing, electrical, structural, or any other issues. So repair your home before putting it on rent.
8) Trees in the Vicinity
Trees around your house may seem like a good thing as they provide natural shade and feeling of wellness. But this isn’t always the case. Old trees around a house can eventually become havoc. Roots of trees may enter the sewer line and may result in grave plumbing issues like waste backup and slow drainage of water and waste. Also, the roots can damage the pipes beneath. Furthermore, in future, old trees may fall on the house and cause loss worth millions. Tenants refrain from these issues and prefer a house that has a clear view outside.
Apart from these factors, the first impression of the house, tenants’ emotions, cultural superstitions and beliefs, type of hospitality you give, surrounding and community, and personal choice will still be the ruling factors that will affect the renting decision of your potential tenants. But to make sure what you can do best to attract the right tenants, you can ask for tips from your residential property management company. The residential property management company has put countless homes on rent in Edmonton and knows what exactly works well when you’d want to put your home on rent.