Rental property is going through a transformational process. More people have decided that the conveniences that come along with renting are very valuable, but they don’t want to give-up on other amenities in life like comfort, luxury and community. Because of this we are seeing a shift in rental opportunities. Property Management Insider refers to this underserved population of individuals as “perma renters”, those who rent for a significantly long period of time instead of buying a home. With a shift to better serve this market, some additional considerations in properties include many of the following ideas.
The Importance of Having a Home
A house and home can be two different things. A home is more personal, warmer and a place that includes a sense of belonging. Property managers have realized this and taken this concept to a new level in many different markets. Meeting potential residents and making them feel welcome and comfortable is now more important than ever. They make sure that these people understand that they are making a lifestyle decision rather than just finding a place to sleep.
Building a Community
The outside landscaping, community facilities, color scheme and ease of access are so incredibly important when it comes to creating a community feeling. Part of the transformation that has taken place with these properties is to create the feeling of a neighborhood. Many rental communities are adding small businesses for rent within the complex itself to add a neighborhood atmosphere. This is done in an effort to help people become more invested in their homes.
Property managers recognize that a very large attraction to rental property is that the resident doesn’t have to do any yard work. This doesn’t mean that they don’t care what it looks like. A wise decision in creating the home mentality in rental property is to have beautiful landscaping and immaculately manicured grass. With lots of color and attention to the outside detail the element of beauty can be achieved. This makes the property look so much more desirable as a residence.
These and several other small touches have become the standard in creating a community of homes for residents rather than just individual units. With a strong demand in the rental market, there are many extra touches that go a long way to keeping properties filled with happy and invested residents. Contact us for more information on the best place to work, live and invest!”.Back to all posts