Every rental property owner and commercial property management company have at least one goal in common, they want to fill up their rental properties with responsible and consistent tenants. Every month that a rental property sits empty could potentially be thousands of dollars in lost revenue. Eventually owners of empty rental properties have to make the decision to lower rent to attract tenant interest which could mean lost revenue potential over the life of the lease. But before you make the decision to lower, try attracting tenants to your property by giving them what they want.
After doing some research it becomes apparent that tenants within different property markets have different must have on their rental property wish list. For instance, a couple with a young child most likely will want an apartment close to their child’s school. However, there are factors that renters around the country and from every demographic find attractive in rental properties.
After looking through several different articles as well as hundreds of comments on certain blogs the most listed things that tenants are looking for (not in any specific order) is location, storage/closet space, quality appliances (stainless steel, energy efficient), laundry in the building, central air/heat and wood floors.
A rental property manager or owner cannot control or change everything on the list including changing the location of the property or adding central air and heat. However, putting newer and higher quality appliances like energy saving refrigerators or water saving dishwashers into your units can attract high quality tenants to your rentals and save you money on utilities.
If you are going to spend the resources on upgrading your rental properties to attract more tenants than it makes sense to also save money and time by upgrading your property management system to the best commercial property management software around. Rissoft management property software features will help you save time by organizing your billing and tenant tracking. In addition, Rissoft software for property management has an advanced energy management feature so that you can see if your upgraded appliances are helping lower your energy costs. If you have any questions about upgrading your lease management software and want to talk to a representative please feel free to call 1-800-747-3511 or fill out a contact form.