What do your potential renters want in their next rental home?
This is the question you want to be thinking about before you invest in a property and before you list it on the Myrtle Beach rental market. When you aren’t making your rental property attractive to well-qualified tenants in the area, you’re not well-positioned for profit. You might find the property is vacant for longer.
Always think like a tenant when you’re choosing what to buy and where to buy it. Tenants in Conway, Surfside Beach, and the surrounding areas have a long list of demands. They’re willing to pay decent rental prices, but they want a lot of value in exchange for that rent.
Here’s what our experience as local property management experts tells us about what potential renters are looking for in their next home.
Location Will Always Matter
Myrtle Beach and surrounding areas such as Murrells Inlet and Socastee have a variety of single-family homes and multi-family units available to tenants who care about neighborhoods. There are a lot of newer construction communities as well as homes in established, older neighborhoods. Renting out a property in a desirable location will bring you high rental values and great tenants. Residents want to be close to conveniences such as grocery stores, restaurants, and entertainment. It does not hurt to be close to the beach in this area. Make sure you have good schools in the area. Tenants will want access to schools, parks, and recreation, and they won’t want to be caught up in nightmarish traffic during the high tourist season.
Technology Has Grown in Value
Technology is becoming more important than ever to tenants. Does your rental property have good access to fast internet? You don’t necessarily have to provide the Wi-Fi as a landlord, but renters will need it, so be prepared to suggest some of the best local service providers.
Consider upgrading your home with some smart technology. Tenants will love that they can sync things like appliances, lighting, thermostats, and security to an app or a smart device like Alexa or Siri. You can offer smart thermostats, for example, without completely rewiring your home.
Video doorbells are a big trend, and you should consider installing one or giving your tenants the option to set one up themselves. This is great for attracting tenants and also for keeping your investment property safe.
Tenants Want a Move-In Ready Home
No tenant will move into a fixer-upper. They won’t want to settle in when there’s still cleaning to be done or repairs to be made.
Properties that aren’t move-in ready or still require painting, carpeting, or cleaning will be a problem. Your tenants are looking for homes that are clean, functional, and ready to inhabit. Before showing the property, make sure that all the necessary repairs have been made. The first impression that a tenant gets from the property will be what drives their decision to fill out an application or not.
Set the standard that you want your residents to uphold. If you rent out a home that’s not in great shape, those tenants will believe you don’t care about the property yourself. This sets the expectation that they can treat the property without care. You don’t want to give the wrong impression. A rental home that’s in move-in ready condition sets the expectation that the tenant will maintain high standards of cleanliness and maintenance.
Curb Appeal and Landscaping
Provide a welcoming and inviting atmosphere at your Conway rental home. Tenants want to be proud of where they live. They’re attracted to curb appeal and pleasant outdoor spaces. When tenants see a gorgeous exterior that’s clean, spruced up, and a welcoming place to spend some time, they’ll be excited to rent your home.
There are a few things you can do to improve the landscaping and exterior look of a rental property. Always keep the lawn mowed, especially when you’re showing the home. Hire a landscaping service for tenants so they don’t have to worry about it. You can include the cost of that service in your rental amount.
Trim any trees, especially making sure there aren’t branches hanging over the roof or close to windows. You’ll want to weed your flower beds and maybe plant some bright flowers in pots or around the entryway. Pay attention to the front door, which tenants are bound to notice. Clear away cobwebs, insects, leaves, and debris.
Great curb appeal will make a good first impression and draw more tenants inside. Tenants are looking for an aesthetically pleasing home. Your curb appeal will speak to that.
Tenants Want Upgrades and Updates
The best renters in the Myrtle Beach area will desire upgrades and updates that lead them to feel like they’re living in a modern, interesting space.
Take a look at the floors. Carpet in rental homes is not as popular as it once was. Those carpet fibers trap dust, allergens, and pet odors. Tenants are looking for a clean living environment, and hard surface flooring provides that. It’s also easier for them to clean and maintain. You won’t have to schedule a carpet cleaning during every turnover.
Hardwoods would be great, but you don’t have to spend a lot of money. There are some great laminate products and faux wood floors on the market that will make your home stand out to good tenants.
Tenants are increasingly sensitive to climate change and energy efficiency. They want to live in sustainable ways. If it’s time to replace your appliances, consider upgrading to energy-efficient models that will keep their water and electric usage as well as their utility bills down.
Don’t forget a coat of fresh paint. There’s no reason to leave your walls faded or chipping.
Professional Property Management
Tenants appreciate and prefer professional property management because they know it will create a more consistent, less risky rental experience. The move-in process will be organized and they’ll know exactly what to do and who to call if there’s an emergency maintenance issue or a problem with rent. They’ll need to know their landlord or property manager is responsive, available, and accessible. Good tenants will look for things like clear expectations, a transparent and detailed lease agreement, and conveniences such as online rental payments.
Would you like to talk more about how to attract qualified renters to your property? We have some additional ideas. Please contact us at J&P Unlimited. We manage investment properties in Myrtle Beach, Conway, Surfside Beach, Murrells Inlet, Socastee, Loris and the surrounding areas.
