In-Demand Amenities That Elevate Your Rental Property

Answer

Adding the right amenities can set your rental apart in a competitive market and justify higher monthly rents. Today’s tenants seek convenience, comfort, and lifestyle perks—so understanding which features truly add value helps landlords make smart investments.

Start with basics that renters expect but appreciate when updated:

• In-unit laundry: Tenants often pay a premium—typically 5%–10% more monthly—when they don’t have to visit a laundromat or shared laundry room.
• Modern kitchen appliances: Stainless steel or energy-efficient refrigerators, dishwashers, and gas ranges signal quality. A contemporary kitchen layout with granite or quartz countertops can boost perceived value.
• High-speed internet access: Reliable gigabit or fiber connections rank among the top non-negotiables, especially for remote workers or students. Advertise upload/download speeds in your listing.
• Smart home features: Smart thermostats, keyless entry, and video doorbells appeal to tech-savvy renters. These upgrades can often pay for themselves through energy savings and lower vacancy rates.

Next, consider amenities that support lifestyle and community:

• On-site parking or garage access: In urban areas with limited street parking, an assigned space can command up to 10% higher rent. Covered or secure garages add even more value.
• Fitness center or clubhouse: Even a small workout room or shared lounge fosters a community vibe. Tenants often choose buildings with basic gym equipment over those without any fitness space.
• Pet-friendly features: Installing pet stations, dog-walking areas, or durable flooring can justify a pet deposit and slightly higher monthly rent. Almost 70% of renters have pets, according to NAR.
• Outdoor space: Balconies, patios, or shared courtyards rank high on the wish list. In many metro areas, outdoor living areas can add as much as $50–$100 per month in value.

Finally, don’t overlook practical upgrades that reduce maintenance headaches:

• Hardwood or luxury vinyl plank flooring: Durable surfaces look cleaner and last longer than carpet, cutting replacement costs.
• Efficient HVAC and water heaters: Energy Star–rated systems lower utility bills for tenants and reduce repair expenses for owners.

Investing in these amenities helps you attract quality tenants, minimize vacancies, and often recoup costs through higher rents. Before making major upgrades, research local rental rates and compare similar listings. It’s advisable to consult with a licensed local property manager or real estate professional to understand which amenities perform best in your neighborhood.