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FOR those interested in donning a landlord’s cap, it pays to create the type of home that tenants will love as much as you do. So what makes an ideal rental property?

Our homes might suit us particularly well but not all homes make for ideal rental properties. Our homes often have big back yards, lovely gardens and plenty of bedrooms but tenants don’t necessarily consider these factors as desirable when they are searching for property to rent.

Why is this so? Let me explain.

A typical tenant is generally young, living on their own or sharing with one other person. Due to their age, they also don’t have many (if any) children. Based on this, some of the features that may appeal to an owner-occupier are not the same as those that appeal to a tenant.

A big back yard might be great for a homeowner with children but most tenants are not interested in renting homes which require them to mow the landlord’s lawns and maintain their yard. In addition to this, they are not prepared to pay more rent just because it is on a large block of land.

A pretty garden enhances a property but tenants don’t want to spend their weekends weeding, pruning and planting when they could be out recreating, eating and drinking. They are also not prepared to pay all the water costs of the property if they are expected to maintain a yard and garden.

Lots of bedrooms doesn’t mean lots of rent. Unless you’re considering renting your property as student accommodation, an ideal rental property should have a certain number of bedrooms.

If you have a unit, two bedrooms are perfect. This allows for one tenant to have a spare bedroom in which to have their computer, sports or hobby equipment. Alternatively, two people can lease the unit and it allows them to share the rent and costs such as electricity and water.

A three-bedroom house makes for an ideal rental property. A two-bedroom house is generally not of interest to tenants as they can lease a two-bedroom unit instead for less rent and there is no yard or garden to maintain.

Due to the size of the average tenant household, a four-bedroom house is too large for them. They’re not interested in paying extra rent for bedrooms they don’t need.

So, if tenants aren’t looking for big houses on big blocks, what are they looking for?

Neat, clean, low-maintenance homes are appealing to tenants. Some of the facilities they want and may be willing to pay extra rent for include:

????????????????????????Modern kitchen and bathroom

????????????????????????Dishwasher

????????????????????????Built in robes (especially in the main bedroom)

????????????????????????Airconditioning (both heating and cooling)

????????????????????????Ensuite (or at least 2 toilets)

????????????????????????Car parking for at least one car


Posted by Peter Koulizos – News Limited Network on 11th October, 2013