The demand for rental properties has increased over the last year in the Hampton Roads area, with the median rent witnessing an 8% surge. Since there is fierce competition in the Hampton Roads housing market, renters are always looking for the perfect property. Here are a few key features based on which renters assess your Hampton Roads property to decide whether it fits their requirements.
1. Location and Neighborhood
The location of your house matters the most to renters. This might seem obvious, but many tenants are ready to drop a few essential amenities if the property is in a prime location and a good neighborhood. In addition, these locations offer more scope for social life and increased employment opportunities and are hence popular amongst tenants.
Some of the key neighborhoods in the Hampton Roads area are North Virginia Beach, Port Warwick, the Ghent District, and Fox Hill.
2. Easy Access to Amenities
A house in a good school district, with proximity to restaurants, grocery stores, malls, and other recreational areas, is preferred over others. Access to such amenities adds to the standard of living, for which renters may even agree to pay higher rent. Tenants with kids primarily look for houses located in good school districts of Hampton Roads, with knowledgeable teaching staff, quality education, and after-school activities such as theatre or sports. In addition, a property that features a parking space is also a popular choice.
3. Clean and Well-maintained Homes
Tenants prefer rental properties that have a fresh look and feel. Not many people would care to move into a house that looks old and bedraggled or is not properly maintained. Renters in Hampton Roads rarely want the bother of calling up landlords every time there is a maintenance issue, especially if they have recently moved in.
If your property is old and difficult to maintain, consider reconstruction or a renovation. If your rental unit demands frequent repairs and upgrades, you might end up losing more money than what you earn in rent. Besides, updating your rental unit with a fresh coat of paint and appliances like washing machines and dryers can add a lot of value to your asset.
4. Safety and Security
Moving to a new city can be scary, and hence, tenants are more likely to choose a neighborhood that gives them a sense of security. Having a property in a safe and secure community can be an advantage for landlords. In addition, having dependable alarms and locks is a good way of ensuring that your tenants feel safe in the neighborhood.
5. A Good Landlord
To retain tenants for a longer time, you must establish a good landlord-tenant relationship with absolute trust between the parties. To make your tenants happy, you have to hold up your end of the bargain, which includes being reachable around the clock, promptly responding to their complaints, taking care of all repairs and maintenance issues without any delay. Maintaining a cordial relationship with your tenants can do wonders for your Hampton Roads property.
These are some of the features that a new tenant in Hampton Roads looks for while relocating to the city. As a landlord, you can think of renovating or upgrading your rental to include some of these features if it does not have them already.
Doud Realty Services is a leading property management company in Hampton Roads, Virginia, which can help you with end-to-end property maintenance and find the right tenants for your property. Contact us for more advice on improving your property to attract tenants in Hampton Roads.