Tenants' Top 10 Features

Have you ever wondered what the most sought after features in a property tenants look for when scouring the rental market? Well wonder no more as we have the top ten right here for you! These results are based on survey results from The National Multifamily Housing Council and Kingsley Associates.

  1. We do live in a digital world so it may not come as a shock that HIGH SPEED INTERNET ranked very highly amongst those surveyed. In fact 94% of renters expressed an interest in this feature and were willing to pay more for it.
  2. PARKING was also high on the list with 94% of voters willing to pay an extra $32/month for somewhere safe to park their car.
  3. Extra storage is always attractive and this time it’s for the wardrobe with renters expressing an interest in WALK IN ROBES and willing to pay an extra $49/month in rental costs.
  4. Some tenants may have experienced some noisy neighbours in the past as SOUNDPROOF WALLS were high in popularity.
  5. Lifestyle is high on the agenda and being able to entertain friends a top priority with a COURTYARD or BALCONY coming in at number 5.
  6. Access to their own WASHING MACHINE or DRYER was paramount with 87% of tenants featuring this in their ‘must have’ list.
  7. Again the preference for a low maintenance lifestyle is evident with a MICROWAVE being another addition tenants rated highly.
  8. A REFRIGERATOR with WATER/ICE DISPENSER also proved popular with 85% of tenants voting this in.
  9. Tenants also expressed an interest in a GARBAGE DISPOSAL and were willing to pay an additional $17/month for this feature.
  10. Not surprisingly, POOLS also rated highly with tenants wishing to frolic in the cool depths over the summer months. 83% requested this addition and were willing to pay an extra $46/month for the privilege.

It’s unlikely every rental will have all of these features but if there’s a couple you can include in your rental property as a tenant attraction strategy, it might be worth investing in them to help attract a higher quality tenant who is keen to stay for the long term.