Owning a home is every family’s dream. Unfortunately, many families rent houses due to high mortgages and the high cost of living. The beauty about renting your home to a family is that they will likely stay longer. Single tenants will often move if they form relationships or to acquire property. On the other hand, families develop neighborhood roots. The kids settle into local nurseries and schools, and moving disrupts the children’s lives. Also, moving is generally a bigger hassle for most families since they often have more furniture and items to pack. Therefore, as a landlord, having a family rent your property should be a welcome idea. Here are nine sure tips to attract families to your rentals.
Family-Friendly Layout
Family life can be hectic, and you don’t want to add a cramped accommodation to the list of challenges. Therefore, as a landlord, you must ensure your property is as comfortable as possible so families will want to stay longer.
One essential feature of a family-friendly home is a layout with flexible spaces or rooms that can serve other purposes over time. Children grow, and family needs change. Eventually, your tenant may have more kids, and the present ones will grow and have new needs for space. A home layout with flexible spaces allows your tenants to, for instance, convert a playroom into a craft room or study room as their space needs change. It’s even better if the flex rooms are centrally located so the adults can easily monitor the kids as they fix meals in the kitchen.
If the house has more than one floor, bathrooms should be available upstairs and downstairs. Depending on the layout of the house, the upstairs bathroom makes it easy for kids to use the bathroom at night, and the one downstairs is convenient for visitors and potty-training children.
Fit with Family-Friendly Appliances
An unfurnished property does not have to be completely bare. If you want it to appeal to families, consider fitting appliances. Two common appliances you may incorporate to add value to your property are an oven and a microwave. These are not legally required but will certainly make a family more interested in letting your house.
You can also supply other integrated or freestanding appliances like a refrigerator to improve your tenants’ quality of life. Although most families can afford a fridge, providing a free family-sized one will undoubtedly make family home seekers rank your property above the rest. Other common appliances that families increasingly require in homes are washing machines and dishwashers. Since these commonly break and you would be responsible for the repairs, only provide plumbing for them to lower your maintenance costs. That’ll likely attract more families to your rental.
Ample Storage Space
The quantities of general paraphernalia that come with kids are hard to overestimate. These range from scooters and bikes to high chairs and strollers. There are also clothes, shoes, and other personal items that kids need. In simple terms, storage space is among the most crucial requirements for a family home. Houses with additional storage space, like a boarded loft or cellar, make the lives of families a lot easier. If you intend to attract family renters, you must think about storage.
Secure Parking Space
Having off-street parking on your property is a huge bonus. Garages are also extremely popular among family renters. That is because demand for parking spaces may be higher than the space available in tenants’ parking areas, which can happen with rented accommodations in cities. If you can provide off-street parking on your rental, you will likely attract more families.
Use Fencing to Boost the Curb Appeal
As a landlord, you want your property to look appealing to prospective tenants from both inside and outside. Erecting a custom-built fence that matches your house’s other architectural elements increases the home’s curb appeal, making it stand out among the other properties. Even if it lacks some of the family-friendly features on this list, that alone will get the attention of family home hunters. A fence also keeps children safe when playing outside.
Sufficient Yard Space
Every renter appreciates outdoor space. For families, a nice yard with a patio and well-mowed grass for children to play on is a highly desirable addition to a home. As children grow and require more space to run, ride bicycles, and play games like tag, every family starts to see the need for a safe and spacious yard. A lovely outdoor space also comes in handy for families that enjoy doing weekend barbecues and other outdoor activities.
Strategic Location
Families find great value in residing near good nurseries and schools, as well as nice family recreational spots like parks and cinemas. The benefit of a house in a suburb or town is that such amenities are nearby. It’s particularly convenient when they are within walking distance. That is especially important for schools, as it saves families a lot of money in kids’ transportation expenses. If you’re thinking about buying a house to rent out, situate your property in a great location and you’ll have lots of families asking to rent it.
Accept Pets
Many families feel that pets like cats and dogs are another member of the family. Unfortunately, some landlords ban pets due to the damage they can cause to property. If you are in a state that caps the rental deposit, you are understandably afraid that the amount of damage a dog or cat can do may surpass the value of the rental deposit.
Although the reasoning behind prohibiting pets is logical, many families prefer properties that allow pets. Most state laws allow you to charge a percentage pet deposit. That should incentivize your tenants to monitor the destruction their pets cause and give you the peace of mind to allow them to keep pets on your property. That way, your rental house becomes more attractive to family renters.
Some Flexibility
Lastly, you must be flexible if you want the families renting your house to make it their long-term home. They may want to make a few modifications to your property to make it exciting and homely for the kids. These may include painting different rooms in different colors, mounting TVs on walls, and anchoring hooks on your walls strong enough to hold giant artwork in custom framing.
While they may find these changes necessary, the next tenant might not need them. Therefore, as much as you should allow alterations, you must make it clear that tenants have to fill in any holes and repaint the house to the original colors if they move. This degree of flexibility will consistently earn you long-term family tenants.
Final Thoughts
Families are among the most reliable groups of renters. Most will move in and ensure you have a steady rental income for several years. To attract this segment of tenants, you need to make your property as homely as possible. Do not be too economical with your space, ensure the outdoors are child-friendly, and try to acquire property in strategic locations.
