What Are Tenants Looking For In Their Next Rental Property? (Part 1: Property Rules)

When people call you to enquire about a rental property, they usually have a list of items that they are looking for. Some of them are really important while others are a nice bonus. These property details usually fit into one of four categories that I will define and go through.

  1. Property rules
  2. Minor upgrades
  3. Major upgrades
  4. Amenities

1. Property Rules

The first one that I will address is the property rules. They include:

  • Pets
  • Subleasing/VRBO
  • Tenant repairs
  • Use of the property
  • Occupancy

Pets

Pets policy is by far the most important item on this list by a long shot.

Allowing a pet is the most important property rule that will affect the amount of rent you can charge and the number of potential tenants you will have. Our policy is to accept a cat in every property and allow small to medium dogs in any property that has a private yard.

Since two out of three Americans own a pet, by not allowing a pet, you are minimizing the number of potential applicants drastically. You should always protect yourself with a pet addendum and additional deposit if need be but take a pet anywhere you can.

Subleasing

Allowing subleasing and allowing people to run a business out of the apartment or house could make you more money, but it will drastically raise your liability.

We are always a hard no on those topics.

Tenant repairs

Allowing tenants to make minor changes to the property are a different story. For example, if tenants want to paint, we allow them to, with the disclosure that they will be charged if it is not painted back when they move.

Related: Part 2: Major and Minor Upgrades

Best property management of apartment buildings and rental houses in Long Beach, California. Better cash flow, better reports, better communication, and better attitudes. Family owned and operated for 30 years!

Learn more or call us on 562-438-6532

About Belmont Shore Land Co.


Related:


Contact Us


Do you own an investment property in Long Beach? Or are you thinking of buying one in our great city?  Get in touch. We would love to help.