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Updated over 5 years ago,
What sets your units apart in a homogeneous market?
So I'm looking at a market that's rather homogeneous and at the same time I realize that there will always be ups and downs in the rental market. With that said, what improvements are your head turners that set your rentals apart from the one next door?
Example:(but please don't focus on just this) I've always loved real stone counter tops. Give me two essentially identical homes to rent and I'm subconsciously willing to spend $50 more per month for the one that has granite counters in the kitchen rather than your run of the mill laminate. Assuming I'm not the only one, this would translate to $600 a year in increased rent, possibly lower vacancy, and increased resale value. For $2500-3000 I have to think this is actually a decent long term improvement if your home happens to need new counters anyway (heck, you'll spend $700-1000 for cheap counters anyway if they're installed for you).
For the extra money I also think that stainless is a worthwhile upgrade. We're not talking big bucks here, especially if you can install yourself and buy gently used.
So what are your eye catchers or deal makers that set your units apart from the rest? Shouldn't every landlord strive to have a stand out feature in every home even if it's not always a slam dunk return on investment in and of itself?
Thanks all.