What do high quality tenants really want?

[Michelle C.]

We're live in our owner occupied 2 unit building, and are realizing the importance of attracting high quality tenants so we can co-exist peacefully and happily at our home.  We have been investing money heavily into this property to make it appealing, not just to us, but to our future tenants.  We are always looking for ways to attract better people. We've made a lot of impovements around the building, keeping things clean, landscaping, etc.  We are starting to talk about renovations inside the unit itself, and are trying to decide how far to go with the renovations.  What kinds of things do your high quality tenants look for in a home?

To give some context, we are in a very desireable neighborhood in Chicago, close to transit, restuarants etc.  The clientele we want to rent to is deinitely looking here, and we want them to want to rent from us. 

[JD Martin]

I can't say upper end, because I rent to middle & lower middle class, but my places go like hotcakes compared to the competition. My experience: safe, clean, convenient, affordable in some interchangeable order, and when all of that is met, amenities. I make sure all my places have dishwashers, main floor w/d hookups (you would be surprised how many women note this near the top of their list), clean working appliances, central heat and air, no carpet, dogs allowed (within reason, no cats I am allergic if they are not kept clean), off-street parking. 

Things I have found renters care less about than I do: new cabinets, fancy light fixtures, specific types of flooring (other than no carpet), granite countertops, outside landscaping, fancy siding, heavy curb appeal in general, fancy appliances, and probably other things I can't even think of off the top of my head. Most renters (in my experience) are far more practical than homeowners, and want a place to be affordable, safe, clean and near where they work or shop. 

As Steve noted, I also do not allow hooked up icemakers. They are a disaster waiting to happen in a rental. I hate it for them, but they have to make ice the old fashioned way if they want it. I don't even leave the hardware in place to tempt a renter to try to hook it up. I have an icemaker at my house, but it's my house and if it leaks it has a path right into the unfinished mechanical room without destroying my wood floors in the LR (kitchen is ceramic).