Knowing which investments to make can be the deciding factor in attracting the right tenants or scarring them off. Attracting new clients and keeping the current clients is one of the biggest factors in successful property management.

According to a survey conducted by Apartment Guide, the top three most wanted property features were square footage/floor plans came in number one (76% of customers), followed by pool, fitness, and community centers (60%), appliances (54%), and the ability to pay rent online (45%) (Source). However, another survey conducted by the National Multi Housing Council (NMHC) and Kingsley Associates resulted in the top amenities being high-speed Internet access, a patio or balcony, and unit washer/dryers. These preferences are vastly different due to the geographic location of each person surveyed. But here is our basic list of what future tenants need:
 

Elbow Room

A spacious and effectively drawn out floor plan is a large plus for future renters. Increasing the square feet in your property is expensive and time consuming in most cases. However, you can create an illusion of elbow room with minor enhancements in architecture, like slightly elevating the dining area.
 

Community Spaces

Offering a community space close by to your property lets tenants host events and get to know their neighbors, building a strong community. Hosting an event in this community space can let tenants feel like they have ownership in their apartment complex.
 

Extras

These extras can include internet access or a gym. But assess your ideas. Is it feasible for you business? In some cases, maybe. Take for example internet access. For this situation, be prepared to either roll internet access into the price of rent or offer a business center with internet access, accessible to all in the apartment complex.
 

Professional Property Management

This is probably a given already, but it’s important. Knowledgeable staff who can address concerns no matter how silly they may seem. It is important to keep your tenants satisfied.

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