If you’re considering investing in property, it’s important to think about who your target tenant will be. Understanding your tenant’s wants and needs can help you make smarter investment decisions and ultimately lead to better long-term returns.

So, what do tenants want? Here are a few key factors to consider:

Location
Location is one of the most important factors for tenants. They want to be close to work, schools, shopping, and other amenities. When considering a property investment, consider the location’s accessibility and convenience. Properties in highly desirable areas tend to have higher rental rates and more robust demand.

Size
The size of a property is also important to tenants. They want enough space for themselves and their families but don’t want to pay for more space than they need. Consider the size of the property and the number of bedrooms and bathrooms. A property that is too small or too large for the local market could lead to lower demand and rental rates.

Condition
Tenants want a property that is in good condition and well-maintained. They don’t want to deal with major repairs or maintenance issues. Before investing in a property, consider its condition and any necessary repairs or upgrades. A property in good condition will attract more tenants and command higher rental rates.

Amenities
Tenants are often looking for properties that offer amenities beyond just a roof over their heads. Add amenities like a pool, gym, or outdoor space to attract more tenants. These amenities can increase rental rates and make your property more desirable to potential tenants.

Pet-Friendly
Many tenants have pets, and they want to be able to bring them along when they move. Consider allowing pets on your property or offering pet-friendly amenities like a dog park or grooming station. This can make your property stand out from others and attract more tenants.

Summary
When investing in property, it’s important to consider the wants and needs of your target tenant. This can help you make smarter investment decisions, ultimately leading to better long-term returns. Consider your property’s location, size, condition, amenities, and pet-friendliness to attract more tenants and command higher rental rates.