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Updated almost 7 years ago on . Most recent reply
Gadgets to attract millenial tenants
I'm under contract to purchase some smaller multi's in rapidly changing neighborhoods. Next door to these properties on 1 side can be a 700k new build, and next door on the other side could be a boarding house. Occasionally you may have the homeless guy zig zagging down the sidewalk pushing his shopping cart next to the lady jogging with her baby in a stroller. I'm looking for ideas on how to attract and retain younger, quality tenants. Has anyone done the nest thermostats or ring door bells in a rental? Any good suggestions for good outside lighting? Any other strategies or ideas we could include while rehabbing these units? Thanks for the collaboration!
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- Rock Star Extraordinaire
- Northeast, TN
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If you want to attract good tenants, you want:
- clean, safe housing in a safe neigborhood;
- basic amenities that people have come to view as standard;
- priced at an attractive rate.
That's really about it. We don't have any gadgets or gizmos on any of our units and we rent to a lot of college-aged tenants - in fact, I'm not sure we have any tenants right now over the age of 30. No one wants a fancy gizmo in a dangerous neighborhood.
- JD Martin
- Podcast Guest on Show #243
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