There are some cornerstone principles of long-term real estate investment. Homeowners, if they can afford it, rent out a home portion or an entire house to the renters. Now it’s certainly an attractive notion to rent out the whole house. It sure is a long-term investment. But you want those tenants who can pay rent on time, take care of your property, or it can cost you double otherwise.
So maybe now you are moving to citi housing phase 2 Multan, and want to rent out your old place. Remember there are certain features in a house that a tenant will look for. If your old place meets the requirements of the tenants you will find new tenants for the home.
Take a look at the top rental features that attract the tenants.
1- School quality
Over 85% of the tenants are looking for a house to rent that is near educational institutes. Schools are an important part of a family’s life. A family with school-aged children wants to subtract the cost of transportation and traveling at this point because schooling these days is not easy.
A rental property near the school is the best option for the tenants. So if your old place is nearby a good school, chances are it will be most suitable for such a family.
Safety is a basic need and a powerful motivator for any tenant. To rent a place in a secure neighborhood is another reason a house may or may not get rented right away. A tenant is willing to spend more on a lease if the house is located within a safe environment.
Since crime statistics are constantly engaging, people want to look out for a palace that offers not only a good school but is safe for families to go out in public without the fear of being robbed.
3- Neighborhood quality
If you want to determine the lifestyle quality of a household, then take a look at their neighborhood. The community a person lives in says reflects them and plays a major part in planning to rent a place.
Does a tenant want to live in a community that has certain amenities like playgrounds, tennis courts, gym, etc? A neighborhood quality also speaks for the location. A high-quality society like Citi Housing Multan showcases the safest neighborhoods.
4- Near to job
No one likes to commute long distances to reach their workplace. The more the rented places are near to the job premises, the better. A place that is available for a move-in is great when it’s near to school and your job as well. Although it’s hard to find both things at the same time, it’s not impossible.
So when a tenant is looking at properties to rent, they think about their close proximity to their workplace for easy commute.
5- Transport access
A house located near grocery stores, restaurants, and shopping centers seems like an attractive choice. But such houses always have high rent. Especially if it’s a nearby commercial area of any society, the rent will cost you more than the initial budget a tenant may have in mind.
Access to modes of transportation is important to look for when searching for a house to rent. For instance, a 10-minute drive to work is quite reasonable. Plus they also see if public transportation service is within easy reach or not.
What type of place is a tenant looking for? Whether it’s a big place or a small one the main question is does it need any upgrades? If its an old place, and has been used for a long time, chances are the homeowner needs to upgrade certain amenities like light fixtures, cabinets, doors, paint, tiles, etc. a renter may start looking for cheaper homes but soon they realize the amount of upgrade such a house will need.
So avoid going for a cheap place. Look for a home with strategic upgrades like hardwood flooring, a security system, granite counters, etc.
7- Rent and price
Last but not the least, the rented house is still a business decision for the tenant and homeowner. A tenant is always concerned about the rent. So it’s vital to maintain a quality relationship either way. Besides the rent and price, you pay for the property should be proportionate to each other.
So make sure whatever rent rate you are expecting is not too high or too low. It should be easy to afford but yet give you quality returns.
So if you are excited to rent out your old place, keep these factors in mind and accordingly place a rent that will make the house up for grabs pretty quick.