It’s a question every landlord should consider: what features will attract potential tenants to their rental property?
What do renters really want in homes? :
If you’ve been curious about how to make your rental property more attractive, we have some insights for you.
Using data from realestate.com.au, we’ve gathered the most popular search terms for rental properties from the past year.
This information will help investors identify where to focus their efforts for better results.
Renters want homes that allow pets.
Everyone loves their pets, so it’s no surprise that “pet friendly” is the most searched term for rentals.
While some states require landlords to allow pets, others have not yet implemented such rules.
Even if you’re worried about potential pet damage, there are simple steps you can take to protect your property.
“Some landlords hesitate to allow pets because they fear damage to their investment,” says Carolyn Parrella, Suncorp Head of Niche Customer Service.
“Fortunately, landlord insurance can cover damage caused by tenants’ pets in many cases.”
However, always check the product disclosure statement of any insurance policy to understand coverage and necessary processes.
“For example, our Terri Scheer Landlord Insurance policy covers damage to your property or belongings caused by the tenant’s pet, up to $5,000,” Parrella explains.
Renters prefer homes that come furnished.
Many people look for furnished properties for various reasons.
For example, if someone is moving from overseas or another state, it can be challenging and expensive to furnish a home.
Additionally, there are many short-term rental situations that require furnished options.
In some regions, fly-in, fly-out workers represent a significant portion of the rental market.
For these individuals, having a furnished residence is a top priority.
Renters want air conditioning.
Temperature control is essential for comfort, especially since most of Australia experiences warm weather for much of the year.
As a result, having adequate cooling is often a priority for many renters.
In fact, searches for the term “air conditioned” increased by 113% in the last 12 months.
Given that lockdowns kept many of us indoors over the past year, it’s not surprising that this luxury is in demand.
Renters desire a swimming pool.
You might assume that tenants would be discouraged by the maintenance, but that’s not the case!
We are definitely a nation that enjoys sunny weather and swimming.
Even though searches for “swimming pool” decreased by 5% compared to last year, it remains the fourth most searched term.
Similar to “pet friendly,” this trend suggests that lifestyle factors are very important to renters.
In fact, lifestyle may matter more than aesthetics or various functional features in rental properties.
Renters are looking for a garage.
Having a place to park is essential, especially with fewer commuters in town over the past year.
If you’re working from home, you’ll likely need a place to store your car for extended periods.
A dedicated parking spot can be a significant advantage when renting a property in the inner city.
Additionally, a safe and secure parking space in a crowded area will attract many interested tenants.
Renters desire outdoor space.
There are several reasons why tenants are seeking outdoor space.
For one, they are only human and need fresh air and nature.
Another reason could relate to the desire for pet-friendly properties, as dog owners want an outdoor area for their pets.
After a year of lockdowns and extended time at home, many of us have realized how important outdoor space is.
It’s clear that having a place outside to relax and stretch is now considered a luxury.
Consequently, it’s not surprising that “outdoor area” and “balcony” were the sixth and seventh most searched terms this past year.
Renters are becoming more aware of style.
Although no aesthetic concerns made it into the top 10 most-searched keywords, some terms are gaining popularity.
“Floorboards” experienced the largest increase in searches over the past year, rising by 129%.
This keyword topped the list of those showing the most growth in interest.
Meanwhile, “deco,” likely referring to “Art Deco,” also entered the top 10 keywords with significant growth.
While these features may not be essential in a rental, having floorboards in an investment property is certainly a plus!
