Tenants Reveal Their Top Four Must-Have Features When Renting

By Peter Sarmas on 28 Aug 2013
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Property investors, take note.

A recent study by Bees Nees City Agency has uncovered the top sought-after features when it comes to renting a house.

While it is often thought that renters think the property they select is “only a temporary renting house”, experienced investors know this is far from the truth.

Renters these days know the value of their dollar and there is enough information online to help them. They have a strong set of particular wants when it comes to selecting their rental property.

Whether you are an experienced property investor wondering how you can boost the interest on your investment, or a newcomer looking into what sort of property you should invest in for maximum profitability and long-term value on the rental market – we have just the information you’re looking for.

Parking

The Brisbane study found that the top ranked most sought-after feature in a house rental is a sufficient amount of parking.

Regardless of the suburb you live in, it seems at least one car per household is an absolute must. Even for city dwellers who are close to public transport, owning your own car allows for far more flexibility in lifestyle and with insurance companies jumping aboard the “pay for what you use” plan and the ever-increasing range of smaller, efficient cars, owning a car alongside an urban lifestyle is becoming more affordable, as well as more practical.

Outdoor Living Space

It seems that the Australian dream of a house with a big backyard is still not dead.

The results indicated than an outdoor living space was the second most desired feature when it comes to renting a house.  While a “big” backyard is can be a little more difficult to find in a rental property, some form of outdoor living space is definitely a high priority among tenants.                                                      

Storage Space

This feature may come as a surprise to some – but storage space was voted the third most wanted feature when renting a house.

Clever storage solutions can be a great point of advantage for rental properties. Likewise, a house with insufficient storage space can be a big turn off for potential tenants. As you can imagine, the tenant will be left with the dilemma of “what am I going to do with all my clothes?” and the thought of buying an extra wardrobe means more money out of their pocket, which is likely to be wasted should they move in the near future to a house with a large built-in wardrobe.

High Speed Internet

The fourth most desired feature that tenants have reported they look for when renting a house was the availability of high speed internet.

Many tenants will choose to pay more for a rental house that can allow them the use of high speed internet because often this can be a necessary feature for their work life. Due to the ever growing world of online communication, it can also be an important factor in their social life.

The study also found that tenants highly rank being close to public transport over parks and entertainment. There has been an increase in the desire for energy efficient homes, and most tenants will give some consideration to the quality of the neighbourhood.

If you are thinking of buying selling or investing and would like a FREE 5 minute chat
with Street News Director Peter Sarmas, please contact him on 0418 740 606
or via email at [email protected]

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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