One of the main reasons Baltimore tenants choose one particular rental over others is the amenities offered by the landlord. Given this fact, landlords should take a look at what kind of amenities entice renters to increase appeal and provide residents with what they want.
This article will discuss the amenities that attract residents and how they can make your renters happy, encourage lease renewals, and foster long-term tenancies.
Definition of Amenities
For a Baltimore multi-family property or apartment, renters want to know about the amenities available in the property listing. Amenities are extra features and services that residents have access to in a condo unit, apartment, or multi-family rental space. These can include pools, parking areas, gyms, playgrounds, designated laundry spaces, and dog parks.
Offering attractive amenities engages potential residents and allows you to set a higher rental fee. Renters compare the amenities offered by different rentals and consider them a primary factor in choosing where to live.
Depending on your target renter, some amenities will be prioritized over others. Ensuring you provide suitable amenities for your chosen demographic will result in happier tenants.
Charge for Amenities
Landlords can include the fee for amenities in the rent or charge renters separately. If you decide to charge an amenity fee, you can collect it monthly or yearly. You can also opt to charge a single flat rate at the start of the tenancy.
Before setting the amenity fee, make sure your rental rates remain at par with your competitors to avoid losing prospective renters to other rental properties in your Baltimore neighborhood.
Types of Amenities
Landlords can offer two types of amenities to renters.
Community Amenities
These are communal amenities that all residents share in the property. It is accessible to all the renters. They can include swimming pools, gyms, secure parking lots, bike storage areas, playgrounds, rooftop decks, and laundry facilities.
In-unit Amenities
These are housed inside the rental unit and accessible only to the residents. They can make the living space more habitable and increase rental value. Examples include central air conditioning, in-unit washers and dryers, dishwashers, patios, and smart thermostats.
The amenities you offer will differentiate your rental home from competitors. Here are eight amenities to consider for your Baltimore rental unit:
1. Outdoor Space
Many residents prefer staying in a rental property with outdoor spaces to relax and feel refreshed. As a landlord, offering a unit with a patio or balcony can increase interest. Additionally, providing communal spots like roof decks, picnic areas, lounge chairs, community gardens, and playgrounds can attract renters.
2. Smart Locks
With advances in technology, more residents appreciate keyless entry features for added security. Forgetting or losing keys won’t be an issue anymore, as doors can be easily unlocked with mobile phones. Smart locks are also convenient for landlords since they eliminate the need to change physical keys when new renters move in.
3. Pet Amenities
Since more and more residents with pets are looking to rent, becoming a pet-friendly unit offers a lot of advantages and can also increase a landlord’s income. They can carve out spaces for pet washing and offer pet services, such as grooming and pet sitting.
4. Storage Spaces
Residents also value rental units that come with walk-in closets and additional storage spaces for their items. The more cabinets, built-in pantry, and shelves you have, the higher the interest.
Renters prefer spacious living areas with ample storage for their belongings. Therefore, make sure to install additional storage space in a bedroom since most prefer that extra feature to keep their sleeping spaces neat and clutter-free.
5. In-unit Laundry
Heading to a laundry shop can require extra time, especially during rainy days. Providing in-unit laundry washers and dryers is convenient for many residents. Alternatively, you can offer communal laundry facilities for all residents to use.
6. Parking Spot
A secure area for parking is one of the top amenities for renters with cars. When they have guests, having ample parking is valuable. In dense neighborhoods, it can be tough to find a good parking area to keep personal vehicles safe.
7. Granite Countertops and Stainless Steel Appliances
Renovating your kitchens to make way for modern furnishings can spark more interest from potential tenants. Installing granite countertops and stainless steel appliances makes maintenance easy since cleaning is quicker.
Investing in these items is a great idea since they last a long time and are high on the list of desirable amenities. It’s also easy to match with any color scheme.
8. Security and Safety
No matter how cheap the rent is, residents will always pick the safer rentals. As a landlord, ensure you provide solid safety features, such as alarm systems, security cameras, and motion light detectors.
Ensure you follow state and local safety standards in Baltimore, especially for properties built before 1978, which require disclosure of potential lead hazards.
Bottom Line
Engaging prospective Baltimore residents requires offering suitable amenities. Review the needs of your target market before deciding which facilities to invest in. The more suitable they are, the happier your renters will be, making your rental more competitive among other properties in the area.
If you’re seeking a reliable property manager to keep your Baltimore rental property in top condition, contact American Dream Realty and Management today!
