Modern Amenities Justify Higher Rent
Landlords are seeking to implement features that will give their properties a competitive edge in today's dynamic rental market, and tenants are eager for amenities that represent their modern lifestyle. Today, a new renter can have someone pick them up, have dinner delivered, and request a multitude of services at the touch of a button. The property market is, therefore, required to change to these modern demands.
Features that encourage community are valuable to renters, particularly when considering millennials and Gen Z. Tenants in multi-family buildings may have to compromise square footage, so the increased spending for an area that can be shared with others outdoors or indoor goes a long way.
Barbecue spaces, fire pits and outdoor seating, gaming rooms, or lounge rooms have all proved to be common attractions for tenants looking for space in the building to bring friends or meet fellow tenants.
The eco-friendly tenants of today are serious about cutting down on their carbon footprint. In this case, energy-efficient appliances, such as dishwashers and refrigerators, are a given, as they are healthier for the environment as a whole and in the long run even save renters money when it comes to their utilities.
By adding a few useful luxury amenities, you are in a better position to justify the higher rent.
This update is by Livo, a rental optimization platform aimed at providing you with a robust revenue enhancement tool. With Livo, you can maximize rental yields, accept and manage multiple offers and offers, and enjoy better retention. Livo targets rentals with the greatest odds of receiving a multitude of offers, and those with the best locations, features, configurations, and more. Please call 833.333.5486 today to learn more.