Making your rental property family friendly will help you attract high-quality and long-term tenants. There are many things families look for when choosing a rental, that might not be as important to singles and seniors. Keep reading to learn some tips to make your rental property move family friendly in the Memphis area!
Typically, the adults in the home will be further along in their careers, providing a more stable income. You’re won’t likely have to worry about your tenant coming up with rent each month. Also, moving with a family can be a burden. People tend to want to stay put longer both for the convenience and to provide stability for their kids. Below are some great ways to make your rental property more family-friendly in Memphis !
Improve The Yard
Families with kids will likely spend a lot of time outside. If there are not currently trees in the backyard, consider planting some. Having shade is important and it will create a lovely ambiance too. Consider adding more grass, plants and other things to make the area more aesthetically pleasing. Think more green space and less concrete. Include areas for games, toys, and bicycle storage. You can also fence in the backyard if it hasn’t been already. Include a designated seating area, even adding tables and chairs so the tenant won’t have to spend their money on patio furniture. If you have a multi-family unit or apartment complex, consider adding a play area for the kids who live there. A great yard will often top a parent’s list when looking for a home. So the more appealing this part of the property is, the better. Just make sure your lease outlines who is responsible for the yard maintenance. The easier you can make it on the tenant, the better. You can offset any costs you have by increasing the rent proportionally.
Make It Safe
Safety first is the motto you should stick to here. Kids climb and fall off things, so do your best to discourage this. Include handrails on the stairs and don’t allow assess to any areas with a ledge. Make sure there is adequate lighting throughout. You will want to include smoke and carbon monoxide detectors in each room and a simple way to get out of the house if needed. You will want to make sure there are multiple locks on the door and that all are in working order. You might even consider adding a security system, giving the tenant the option to pay the monthly cost or not. Anything to help the parents sleep better at night is sure to be a big crowd pleaser.
When a family has kids, they are likely to have some sort of pet. Whether it be a cat, dog, gerbil, or lizard, make room for this in your lease. Of course, you can set limits and charge an extra security deposit, but by welcoming in the family pet, you are opening the door for many renting families who might be limited on where their pets will be allowed. Many times we come across families who have to turn a rental property down simply because their pet won’t be able to come with them.
Highlight Family-Friendly Attractions
When marketing your property, be sure to point out the benefits your neighborhood offers to families. Provide information about local parks, schools, and family-friendly attractions such as movie theaters and skating rinks. The idea is to showcase any feature or place families will enjoy and feel safe. The more information people have on your house, the more excited they will be about renting it!