A landlord wants tenants who follow the rules, respectful to their neighbors, take care of their rental unit, and, most importantly, pay on time. A bad tenant brings a never-ending series of problems that make the task of being a landlord much harder than it is. They create unnecessary distractions, scare other renters away, leave damages to their rental unit, use the rental unit for crimes, and other causes of headache. Worse, the entire apartment building will get a negative reputation because of one tenant who likes to cause trouble.
There are, therefore, incentives to carefully screening and picking only the best of the best. But, to have the ideal community of renters, one must first attract applicants.
To do that, property owners must first find out what appeals to potential renters. What do people want from an apartment in 2021?
An Outdoor Space
The past year has been difficult for everybody, but renters experienced additional challenges. Space is one of them.
Many renters felt trapped in their apartments when governments decided to impose shelter-in-place orders. While homeowners had the privilege of having outdoor spaces such as a backyard or a front porch. Renters who live in buildings with multiple people do not have such luxuries. As a result, many felt trapped indoors which affected their mental health.
So, while vaccines are being distributed, a lot of renters will likely look for buildings that offer more than just a room. A rooftop garden, a backyard basketball court, or a balcony will be welcome additions to a rental unit. These amenities provide renters opportunities to go out of their room, breathe fresh air, exercise, and have fun without leaving the property. That way, in case another national or global crisis occurs, they can stay home without being cooped up in their rooms.
Smart Home Features
Homes are increasingly becoming smarter to provide an improved quality of life to residents. Apartments should begin upgrading, too.
Many buildings have already started adopting smart lighting features and smart thermostats not just because they are on-trend, but because they contribute to energy efficiency. However, landlords should also consider installing smart home features to create a safe place for tenants. A smart lock, smart security cameras and lights, and smart doorbells will increase security within the building and give tenants peace of mind.
More young people are becoming freelancers, workers who are not employed by one company and get paid for their output. This new breed of workers often does not go to the office. They fulfill their professional roles from the comforts of their homes, in a coffee shop, at a park, or anywhere they feel most productive.
In the last decade, the number of workers who are freelancing has increased. By 2019, 35% of all American workers, or 57 million people, are freelancers or gig workers.
Because of the pandemic, which forced most jobs to go remote, more will want to continue working from home.
A co-working space, therefore, will be a huge advantage. Many full-time freelancers and home-based employees will be thrilled to have an additional option where they can do their work comfortably and without distractions.
In addition, landlords should also make an effort to improve building-wide connectivity. Access to the internet is important, especially to those who work freelance or remote. An apartment where they cannot go online will be a huge turn-off.
A Good Landlord
The relationship between landlord-tenant is a business dealing, but there is no reason why they should antagonize one another. A tenant needs to follow rules within the building, but they should feel that these rules are meant to protect them. If not, they will rebel and continue to secretly break the rules.
At the same time, tenants expect that the landlord will fulfill their end of the bargain. The landlords should follow through with their promises and be reasonable. The landlord does not have to be on friendly terms with the tenants, but they have to be trustworthy and reliable. If the landlord fails to do their part, the tenant will look for somewhere else to live.
Factors such as location, accessibility to and from mass transportation hubs, proximity to school and offices, availability of commercial establishments, and the safety and general appeal of the neighborhoods still matter. However, renters are looking for more nowadays. The lifestyle of renters has changed and, therefore, they want their home to be a better match to their hobbies and priorities.
By offering these features, the property will be receiving increased interest among renters looking for the perfect home.