“Bad tenants will rent bad-looking apartments, but good tenants will want decent apartments.” -Jeff Murray
Being a landlord is no easy feat.
On the outset, it looks like a fairly easy job. After all, once you have selected an appropriate property for tenancy and have your prospective tenants screened and occupy it, you can virtually watch your property pay for itself, right? Well, yes and no. While in the long run this is definitely that kind of goal you would want to aim for, it is not as easy as it looks. For starters, a business in tenancy means getting in the crosshairs of a stiff competition. Indeed, competition is rife when it comes to leasing properties insomuch that just owning rental property would not make the cut nowadays. In this regard, you need to ensure that your properties would not only be situated in premier and idyllic locations in proximity to most points of interest. You need to consider what your prospective tenants would want and take a gander at your competition. As real estate property is a significant investment, you would wish for it to give you optimal payoffs. However, to do this, you would need to maximize your profits by keeping good tenants and stay competitive. In this regard, your tenants needs would come first as if your property would fall short of what they want (and which they can incidentally find elsewhere), your returns will decline and inevitably suffer.
So, to ensure that your apartment for rent in Pasig or elsewhere is primed for occupancy, here are some of the most in-demand and coveted features in rental homes and units:
1.) Low maintenance landscaping
On the off chance that you would score a tenant who does not mind having a lawn in their lease property’s yard, they would wish for it to be small and easy enough to maintain. Let us face it: Your tenants would wish to do as minimal work as possible and if your rental property comes with a big yard, tenants would not be as receptive to renting from you than they will be to properties that do not come with it. Generally, tenants would want their stay to be as convenient and comfortable as possible. So, if they need to block out certain weekends of the month to dedicate to pruning and weeding their rental property, the chances are they might look elsewhere.
Unless your tenant is only looking for a bedspace or a room for rent, they would likely look for a property that has a garage–or at least sufficient space for their cars. On the average, prospective tenants would have two cars for their household–particularly if it is a family. However, do note that this number can relatively increase or decrease depending on the kind of property you are leasing out and how many prospective tenants you are looking to house. Regardless, it is still worthy to note the to significance of having enough parking space for all of your lessees. Seeing as adequate parking space is one of the most in-demand features a rental property can have, it should be no wonder that properties with these feature would become more and more valuable–regardless of how many bedrooms a property might have. Take note: A property that does not have a garage can easily turn away a potential tenant. Not only would it be impossible to house their cars, but they would not wish to clog streets should friends and family come over to visit.
3.) Two or more bathrooms
Ideally, a rental property that has two or more bedrooms should at least have two or more bathrooms as well. Tenants comprised of family members are likely to expect this to expedite their morning rituals and ensure that everyone gets to their destination on time. Sure, they can make do with just one bathroom but they would expect you to reach a compromise on a lower rent.
4.) Updated colors and fixtures
A rental property that is visually appealing and with eye-popping colors would instantly be more attractive to a client than a dull and boring one. While most landlords would overlook the aesthetic features of their home, it has been shown that prospective clients are more likely to rent attractive properties regardless of the rental price. Furthermore, having a rental property with updated colors and fixtures would allow you to leverage your asking price better.
When it comes to looking for potential properties for rent, safety would be a paramount concern to most, if not, all tenants. In fact, dilapidated properties that look rather run down with overgrown shrubbery and plants tend to get overlooked and disregarded. With this in mind, capitalize on your rental property’s security by improving it. Address potential safety hazards before hand and remedy any places that might not be well-lit and wherein anyone can hide and be concealed. Furthermore, make sure that the property is well-illuminated and enhance your curb appeal.
Condo living is one of the things most people want to experience. Who does not want it, right? That is why more and more people who want to invest in a condo. Whether you plan to stay in a condo for rent in Makati, or any other condos in the Philippines, there are just certain things you can experience only if you are living in a condo. But before you decide to invest or rent in a condo, there are also certain things you need to know about renting or living in a condo.
Renting a condo unit is not that difficult as you think it is. Yes, there might be certain things you need to follow for you to have a peaceful living, but that don’t mean that you are bound to its rules. Of course, if you just know what and what not to do when it comes to condo living, then you might be able to adapt its environment of it.
What to search for
When we talk about searching, there are different kinds of searches. That depends on what you are looking for. That is why you need to know what kind of condo unit you want to rent for you to save some time and effort when it comes to finding one. Moreover, you should also be clear what you want for a condo. With that, it will be easier for you to find a condo unit that suits your lifestyle.
Where to search
There are a lot of ways you can find condos for rent available. You can find it through online, or some posters given by some real estate agents or you can even find a condo for rent in the newspaper classifieds. It doesn’t matter where you find the property, for as long as it fits on your standard, then that particular condo unit might be for you. Of course, aside from these sources, you can also ask your friends if there are any available condos for you to rent. Who knows, they might know somewhere that is way better and affordable than the other one.
Set a budget
Your budget is important. You cannot rent a particular condo unit when you don’t have any budget for it. Of course, where will you get the money for the down payments, the monthly dues, utility bills, and other expenses that you need to pay? Right? Without any proper financial stability, then you might get into financial trouble later on. That is why, before you decide on where and what condo unit you want to rent, make sure that you can afford any payments that you are obliged to pay. Moreover, there are a lot of condo units that are affordable enough for you to have. So, better choose the ones that you know you can afford.
Know the rules and regulations of the condo
Again, there are certain rules and regulations when it comes to living in a condo. Of course, you are living in a community; you should also expect that there are some policies that you need to abide for you and your neighbors to have a good and satisfying lifestyle in the condo. And if there are certain things or rules that you don’t want to follow in that certain condo, then you better find another one that would also fit your lifestyle. Of course, you don’t want to live in a place where you don’t want to abide any of the rules, right?
Read before you sign
This is one of the most important things for you to consider. Of course, you don’t want to experience headaches when you rent a particular condo, right? That is why, before you agree to any conditions the condo has, then you have to read and go over with it again and again before you sign it. Making sure that everything is in your likings is one of the things that prevent you from having a bad experience when you rent a condo.