Every tenant is unique, and the prospective residents who come to see your Colorado Springs rental property will be looking for specific things before they decide to fill out an application and lease your home.
There are a few things that all tenants require, however, and we’re talking about that in today’s blog. Based on our experience as Colorado Springs property managers, we know that these are the top three things most good tenants want in a rental property.
1. Colorado Springs Tenants Look for Desirable Locations
Your rental property has to be well-located if you want to attract a large pool of tenants and set a profitable rental price. Homes in a great school district will be especially attractive to families. Most tenants will want to be close to work and school. They’ll want easy proximity to grocery stores, retailers, restaurants, and recreation. Walkable neighborhoods are especially popular lately.
A good location is an excellent starting point when you’re renting out a property and attracting tenants. This is often the number one thing good tenants are seeking when they lease a property.
2. Well-Maintained Colorado Springs Rentals are in High Demand
A property that’s in excellent condition is going to rent quickly. It’s also going to rent for more money than a property in desperate need of cleaning, updating, and repairs.
Tenants want a home that is move-in ready. They want everything to be functional and easy to use. Appliances should include a refrigerator, stove and oven, dishwasher, and if possible – in-unit washers and dryers. These are the things that matter to tenants when they’re deciding where to live.
Consider making some updates and improvements that will really help your property stand out in the market. There’s likely no need to do a complete renovation, especially if your home is already in good shape. But if you’re willing to provide fresh paint, new carpets, hard surface flooring, energy-efficient appliances, and updated lighting and fixtures, you’ll really plug into what tenants are looking for in the Colorado Springs rental market.
3. Provide a Pet-Friendly Property
Tenants want to move in with their pets.
Not all tenants will have pets, of course, but a large majority of them do. Pet-friendly properties are always going to rent faster. They’re going to attract a greater pool of tenants. They’re also going to earn you more money. When you allow pets, you can expect:
- Lower vacancy rates
- Better tenant retention
- Extra income thanks to a pet fee and monthly pet rent
Certainly pets will come with some extra risk. That’s why you implement a strong pet policy, you collect a pet fee, and you charge pet rent every month.
Keep in mind that you don’t have to accept all pets. You can say in your marketing materials and your online listing that you’ll consider pets. Then, you can decide whether you want to restrict breeds, sizes, and ages.
These are three of the most important things that good tenants are looking for. If you have any questions about renting out your Colorado Springs property, we’re your best resource. Contact us at Muldoon Associates. We provide Pueblo property management in Colorado Springs and surrounding areas in Pueblo County and El Paso County.