Rents are high in Indianapolis, and smart landlords are doing everything they can to increase rental values and attract the best tenants. A lot of what you earn and who you attract will depend on the amenities you provide.
We know what tenants are looking for and we understand what makes a home more competitive in the rental market. Here are suggestions on the amenities you need when you want to increase the value of your Indianapolis rental property.
Fenced Yards for Indianapolis Rental Homes
Whether you’re renting out a single-family home, a duplex, or a condo, a little bit of yard space goes a long way. Even better is a yard with a fence. This is especially attractive to tenants with dogs or children. Your best residents will see it as a safety and privacy issue. They like to have a fenced backyard, and they’re willing to pay a little extra for it.
Provide In-Unit Washers and Dryers
Tenants renting a home want to be able to do their laundry at times that are convenient for them. They don’t want to be in a communal laundry space where they may be waiting for a dryer or wondering if their clothes will be taken out of a washing machine by someone else.
Providing a washer and a dryer will make a huge difference to tenants. These appliances are expensive, but the ROI is almost immediate. You’ll earn more rent, you’ll rent your property faster, and you’ll find those good tenants who are eager to rent your home. Look for energy-efficient models that will keep utility costs low and work well for years. If you only have a small space for laundry, consider stackable models.
Tech-Driven Security and Systems
Good technology is one of the amenities Indianapolis tenants are most interested in when they’re looking for a rental home. While you don’t have to completely equip your property with all the latest and greatest smart home technology, a few choice amenities will help you earn more in rent.
Here are some cost-effective tech amenities that will get the attention of prospective tenants:
Video doorbells. These are extremely popular, especially with single-family homes. When a video doorbell is installed, tenants can download an app to their phones and see who is at the door before they answer it. They will also be notified if someone approaches the home when they’re not there. This is a safety feature and one of convenience. They’ll also be able to track when packages are delivered and left at the door.
Smart thermostats. To improve energy efficiency, smart thermostats can be installed to regulate the heating and cooling of your rental home according to when people are there. Temperature control can be done by app and your tenants won’t have to waste money heating an empty house in the winter or cooling an empty house in the summer.
Security systems. Installing and activating a security system is a bit pricey, but you can provide the system and then leave it up to the tenants to decide whether they want to activate the security system and pay the monthly fee.
Strong WiFi is also an important amenity for tenants, especially with more people continuing to work from home. If you don’t provide it yourself, make sure you can refer your renters to the best internet providers in your area.
These amenities will make a difference in what you earn. If you’d like some help with your Indianapolis rental property, please contact us at Red Door Property Management.
