Amenities that can boost your rental income👇

[Alan Asriants]

💭As a landlord, providing the best amenities can increase your rental income and make your property stand out in the market.

💡Here are some amenities that tenants love and are willing to pay extra for:

1️⃣ Central air: Adding central air to a unit is an expensive upgrade, but it will set you apart from other rentals. Tenants prefer central air and would pay more to have it. If it is too expensive of an upgrade, narrow down your investment property search to properties that already have ductwork installed. From there, adding central air is not as expensive or difficult. A property with central air can also be more attractive to potential tenants with allergies or respiratory issues.

2️⃣ Deck/balcony: Having a deck or balcony is a luxurious feature that can give your rental property more appeal and could lead to higher rent rates. The addition of a deck or balcony can also expand the living space and create an outdoor oasis for your tenants. While expensive, it can be a great investment and could lead to more tenant interest in your property.

3️⃣ Recessed lighting: Lighting is an important factor in a rental property, and tenants often prefer recessed lights over other lighting options. Invest in 4" lights in kitchens, hallways, and bedrooms, and 6" in living rooms. Recessed lighting provides a sleek and modern look and can make small rooms appear larger. It can also make a space feel more homey and comfortable.

4️⃣ In-unit laundry: Make laundry easier for your tenants by adding in-unit laundry. This convenience is highly valued and could lead to more interest in your rental. It can also be a significant factor in retaining tenants who value convenience and time-saving solutions. If adding in-unit laundry is not feasible, consider installing a laundry room in your building.

5️⃣ Kitchen vent to exterior: Having a kitchen vent to the exterior is a huge plus for tenants. While it is not something they are always looking for, tenants will be pleased it is there. A vent hood or fan can prevent cooking smells from lingering in the unit and prevent the buildup of moisture and humidity that could lead to mold growth. I've had a few very qualified tenants pass on my rental for another that had this feature. It's definitely worth considering.

💰Investing in these amenities may require upfront costs, but they could ultimately lead to higher rent rates and happier tenants. Happy renting!

Hope this helps!