Several must-have amenities are critical to the success of the rental homes in your portfolio. They can have a considerable impact on attracting and retaining top-tier renters, as well as assuring tenant happiness during their stay. In this post, we will look at the top ten must-have features that any landlord or rental property management should offer. Landlords and property managers can improve their properties and make them more appealing to potential tenants by including these facilities.

From basic essentials to luxurious additions, we’ll look at a variety of amenities that can make a big difference in the rental property market. Whether you’re a landlord or a property manager, this article can help you enhance your rental property and make it more appealing to potential tenants.

What Is an Amenity?

An amenity is anything that is not considered essential for a rental. They are not required for daily living, but they do make your tenant’s life easier and more enjoyable.

A working kitchen, for example, requires functional appliances. However, a stainless steel refrigerator with an indoor water filtration system, as well as a six-burner gas range, are considered apartment amenities.

While they are not essential for daily living and may not be considered during a potential tenant’s apartment search, the existence of amenities frequently influences their decision to sign a lease. As a result, it is critical for landlords to highlight the amenities in their buildings to attract tenants.

Often, landlords include the cost of amenities in the monthly rent. For example, a tenant would not be charged separately for a washer and dryer. Instead, their monthly rent would increase. In some circumstances, renters who use the facility may be charged an additional monthly price to participate, such as a pet fee or an allocated parking space.

What Are Common Amenities?

Types of amenities are often categorized into two kinds: in-unit and community amenities. Examples of amenities are listed below.

In-Unit Amenities

In-unit amenities are located within the apartment and are used exclusively by the resident and their guests.

During the pandemic, in-unit facilities became increasingly important to renters who were unable to use community amenities such as pools or fitness centers. As a result, many people are choosing to narrow their apartment search to things they can enjoy without leaving their house.

• Upgraded Kitchens

If you’re looking for amenities to add to your unit, an upgraded kitchen will always lure potential renters. Stainless steel appliances, granite countertops, gas stoves, plenty of counter space, and an open floor plan into the living space are amenities renters are willing to pay extra for.

• Pet Policy

Renters want the ability to bring a pet with them or add one to their family once they get settled. That means they’re looking for easy-to-clean floorings, like hardwood floors, tile, laminate, or stain-resistant carpeting. Easy access to the outdoors to let Fido do his business is also a bonus for pet owners.

• Washer and Dryer

No one likes lugging their dirty laundry to the laundromat, so access to a washer and dryer in the unit is an amenity high on many renters’ wishlist. However, if you can’t provide a washer and dryer or the hookups in-unit, having laundry facilities on-site somewhere is often enough.

• Smart Home

Eco-conscious and tech-savvy renters count smart home amenities as part of their must-haves. They’re looking for smart thermostats, electric car chargers, automatic lights, and smart locks so they can program their home from their phones.

• Air Conditioning

Air conditioning walks the line between must-have and amenity depending on where you live. In Arizona, it’s an essential feature of an apartment — as crucial as a toilet that flushes. In the Pacific Northwest, where temperatures don’t frequently get as warm, air conditioning is a nice-to-have amenity. If you don’t have central air, window units and swamp coolers are great options.

• Furniture

Furnished units are an amenity for first-time renters like college students who don’t want hand-me-down furniture from family members or people who come to town often for business and need a place to stay. While tenants seeking furnished units are often short-term renters, they are usually willing to pay extra for not having to purchase their own furniture.

• Hardwood Floors

Tenants love the durability and easy-to-clean nature of hardwood floors, especially if they have allergies or pets. While the real thing can be expensive to add to a rental unit, there are countless varieties of natural-looking laminate floors, or you can put the hardwood in key areas, like an entryway or kitchen.

• Private Outdoor Space

One of the perks of renting is not caring for a lawn, but that doesn’t mean tenants aren’t looking for some outdoor space to call their own. A private balcony or patio adds living space to smaller apartments, and a fenced-in yard for a rental home provides a safe place for kids to play.

• Dishwasher

A dishwasher is the ultimate amenity: It makes life easier, more productive, and more enjoyable. Unfortunately, however, not all rentals have them, leaving tenants with chapped hands from washing dishes every day. They are easy to add to an existing home, but if you’re worried about losing precious cabinet space, you can add the portable version that connects to the kitchen tap.

• Large Windows and Natural Light

With more people spending time at home for work or limiting their time in crowded spaces, it’s more important than ever for apartments to have large windows and natural light. Potential tenants will be even happier if those windows are energy-efficient.

Community Amenities

Community amenities, or property amenities, refer to features in common spaces throughout the property.

• Pool

Perhaps one of the most common community amenities for apartment complexes, a pool is popular with all tenant age groups.

• Fitness Center

One of the first expenses to go when someone is trying to cut their budget is a gym membership, so having a fitness center on-site is a big draw. Think beyond the treadmill and a stationary bike, though; today’s tenants are looking for a more expansive set of equipment.

• Community Garden

Your eco-friendly and green thumb tenants will love access to a community garden where they can grow their own vegetables, especially in urban areas where green space is rare. It can also make a beautiful site for seating areas for those who prefer not to get their fingers dirty.

• Playground

The lack of space in an apartment unit can be a struggle for families with young children. An on-site playground offers kids the chance to run around and burn off energy without disturbing the neighbors. Plus, it adds a great community feel!

• Dog Parks

Pet owners aren’t just looking for a pet-friendly unit. They want some outdoor amenities as well. Walking paths, on-site dog parks, and doggy bag stations will woo pet parents into signing a lease. In luxury rentals, dog-grooming or dog-walking services are more unique apartment amenities they may look for.

• Walkability

Location is often one of a tenant’s make-it-or-break-it points when looking for a place to rent, and they’re willing to pay top dollar for a smaller rental if it’s in a walkable area. If your unit is within walking distance of restaurants, shops, schools, public transportation, or local attractions, be sure to highlight that in your advertisement.

Read Also: How to Find the Perfect Roommate for Your Rental

Since this isn’t something that can be added to a rental later, make sure you’re on the lookout for it when purchasing a potential investment property.

• Security

These days, many tenants are looking for peace of mind, and they prioritize security amenities over others. Gated access, alarm systems, security cameras, and doormen are popular, and in the age of one-click online ordering, secure package delivery is also a premium amenity. Well-lit parking and walking spaces are also a high priority, especially for people who live alone.

• Parking

While parking is an issue at any complex, it’s especially important to have in urban areas. Tenants want to know they and their guests will be able to park close to their rental after a long day. Assigned parking spots, garage parking, and covered parking are popular parking amenities.

• Community Gathering Spaces

With COVID-19 continuing to limit indoor gatherings in some areas of the country, outdoor communal spaces are more important than ever. Fire pits, rooftop gardens, outdoor seating areas, water features, and grills make great spots for gathering when the weather is nice.

But tenants may also be looking for spaces to rent out to host parties, like media centers or multi-purpose rooms. These can also be used for complex-sponsored events, like Super Bowl Sunday parties or wine tastings.

• Recycling Services

Many people have grown up recycling and take it for granted, so recycling services aren’t often something tenants are actively looking for. Instead, they are surprised when they move in and find there are no recycling services. Adding it to your listing makes your unit look more attractive over comparable units that don’t offer recycling.

Which Type of Lease is Most Common in Apartments?

Many tenants use the terms renting and leasing interchangeably, however they do not refer to the same thing. Both renting and leasing require the tenant to sign a legally binding residential lease agreement in which tenants and landlords agree on terms such as the length of the tenancy, restrictions, and rent price. The term of tenancy is what distinguishes renting from leasing.

Leasing occurs when a tenant signs a lease for at least a year. A rental arrangement is typically short-term, such as month-to-month. In both circumstances, you remain a renter. You must follow the rules and pay a set rent amount. If you sign a lease agreement, you agree to the lease’s whole term, which is typically 12-14 months.

Leases are classified into two forms based on payment: gross leases and net leases. The most frequent type of lease is a gross lease (also known as a full-service lease). A gross lease includes a specified rent that covers the costs of owning the property, such as taxes, building insurance, and maintenance. If you have a gross lease, you are responsible for paying rent while your landlord is concerned about property maintenance.

A net lease has a defined rent sum that only covers your tenancy; all other property expenditures are billed separately. The set rent price is cheaper than under a gross lease, but tenants must pay monthly fees for property taxes, insurance, and maintenance work.

While the monthly rent price for a gross lease may be higher than that of a net lease, you can budget more easily because the monthly cost is consistent. A net lease is less expensive because you only pay for what you use. For example, in a gross lease, you pay for maintenance whether or not you utilize it because the cost is included in your rent. In a net lease, that would not be included in your rent. If you do not need to submit a maintenance request, you will not be charged.

If you’re not sure which lease you have, ask your landlord before signing it. Net and gross leases cover distinct aspects. Make sure to read your lease and clarify with your landlord what you are responsible for paying and how you will be invoiced – everything you will be charged for must be specified in the lease.

The most common type of lease is one with a fixed term. Fixed term leases are named after the fact that tenants and landlords agree to abide by them for a set period of time, usually six to 14 months. The lease start and termination dates should be clearly labeled near the top of the lease. Once you and your landlord have signed the lease, it cannot be amended within the stipulated dates, including the rent amount and conditions. You are also usually not permitted to break the lease early, and your landlord is not permitted to cancel the lease early (unless there is a legitimate reason).

A month-to-month lease, also known as a periodic lease or a short-term apartment lease, is a rental arrangement that usually lasts 30 days. Your landlord has the right to amend the conditions of the rental agreement as long as you provide adequate notice. This means they do not have to renew your lease. They may adjust your rental pricing or certain conditions as long as notification is given. Your state’s laws specify the length of proper notice.

A joint lease is an important concept to comprehend for those who rent with roommates. In a joint lease, you and your roommate(s) sign the lease together, agreeing to its terms. You are all responsible for obeying the regulations and paying rent together. Typically, landlords would include all outstanding money on the same payment. Even if you provide your fair portion, you may still be evicted if your roommate fails to pay the remaining rent. How you distribute costs is up to you and your roommates to negotiate and enforce. Your landlord will demand the complete sum, and they frequently have terms in the

Finally

Residential lease agreements can be perplexing and contain difficult-to-read legal jargon, but it’s critical to understand what lease you have and what it means for you before signing it. If you have any questions, ask your landlord to clarify them, and double-check your state regulations to ensure they are being followed. Once you grasp the fundamental lease kinds, you’ll be able to read your lease and become a well-informed renter.