• Open floor plans create a sense of openness without breaking the budget.
• Incorporate smart home technology to provide convenience and peace of mind.
• Motorized blinds and curtains offer modern touch and adjustable natural light.
• Electronic or biometric door locks provide added security and convenience.
• Updating bathrooms with designer showers, shelving units, and low-flow water fixtures increases the luxury factor.
As a rental property owner, it’s crucial to stay ahead of the trends when it comes to attracting and keeping long-term tenants. Now more than ever, younger renters seek modern amenities and features that make their living spaces comfortable and up-to-date. Here are some things you can add to attract younger tenants.
Open Floor Plans
Open floor plans are becoming more and more popular among younger renters who prefer having a larger shared space for entertaining guests or relaxing after a long day. If you’re looking for an affordable way to update your rental properties with an open floor plan, consider knocking down non-load-bearing walls or replacing them with sliding doors or curtains instead.
This will create a sense of openness without breaking the bank. This is because it doesn’t require you to rewire your property or make structural changes. You can even install half-walls to create separate areas within the open floor plan and add some interest.
If possible, you should also try to provide some storage solutions that work well with open floor plans, like built-in shelves or armoires. This will help younger tenants keep their space organized without feeling overwhelmed by clutter.
Younger tenants are looking for convenience and automation, so you should consider upgrading your rental properties with such features. These devices and fixtures will allow them to control their environment with simple commands, and it’s something that they’ll likely appreciate. Here are some additions to consider:
Smart Home Technology
Smart home technology is becoming increasingly popular in many homes. Adding these features can give your rental property an added edge in the market. Some smart home technologies that you may want to consider include voice assistants, smart thermostats, light bulbs, and doorbells with cameras. Not only do these features provide convenience and peace of mind, but they also increase energy efficiency, which can save money on utility bills over time.
Motorized Blinds & Curtains
Investing in motorized blinds and curtains is another excellent way to make your rental property stand out from the rest. They’re convenient and provide a modern touch that appeals to many renters.
These can be controlled with a remote or an app, so tenants can easily open and close them with just the press of a button. This will allow them to adjust the amount of natural light in the room, which is great for entertaining guests or just relaxing after a long day.
Electronic or Biometric Door Locks
Electronic or biometric door locks are another great way to make your rental property more appealing to younger tenants. These locks provide added security and convenience since they can be operated with a keypad or fingerprint sensor. This will give tenants peace of mind knowing that their home is secure while making it easier to enter and exit the property.
A bathroom renovation can be one of the most expensive renovations, but it’s also one of the most impactful changes that you can make to your rental property. Adding updated fixtures will help modernize the space and make it more appealing to younger tenants who are looking for luxury amenities at an affordable price point. Here are some ideas:
Designer showers are becoming increasingly popular in many homes. From rainfall showerheads to handheld wands, these fixtures will help create a luxurious and modern feel in the bathroom. They’re also easier to clean, which is great for tenants who want to maintain a neat and tidy space.
Adding shelving units is an easy and affordable way to update the look of a bathroom. Not only do they provide added storage options, but they also give the room a modern, sleek finish. Shelving units can be hung on the walls or placed in cabinets for an even more contemporary look. This is a great option for renters looking for luxury amenities without the price tag.
Low-flow Water Fixtures
Installing low-flow water fixtures is another great way to make your rental property more appealing to younger tenants. Not only will this help lower their utility bills, but it also helps conserve water, which is something many of them care about. These include toilets, shower heads, and faucets that are designed to use less water while still providing the same level of performance.
As a rental property owner, updating your properties with modern features is vital when attracting young tenants looking for luxury amenities without breaking the bank. Some great ways to add modern flair include incorporating smart home technology into your properties, creating open floor plans, and updating bathrooms with new fixtures and storage solutions. By making these updates now, you’ll be able to attract young tenants in no time.