The needs and demands of tenants in San Mateo are always shifting. If you’re investing in apartment units or buildings, you’ll need to offer them everything they’re looking for in their next rental home. Providing top-notch amenities to potential tenants can make all the difference in how much you can charge in rent and how quickly you find a qualified tenant. When it comes to standing out in a competitive market, offering the right amenities can incentivize renters to choose your property over others.
At Bayside Management, we professionally lease, manage, and maintain apartment homes for landlords and rental property owners, and we have been tracking tenant preferences over the years. In the current market, we can tell you that these five must-have amenities will make a huge difference in the success and profitability of your San Mateo investment property.
1. In-Unit Laundry
One of the most desired amenities among renters in San Mateo is access to in-unit laundry facilities. This is especially true for the demographics of tenants who are moving into apartments here. We have retirees who are looking for low-maintenance living, busy young professionals, and tenants with children who need immediate access to a washing machine. The convenience and efficiency is a huge perk for tenants, and this amenity will allow you to charge more in rent and make a strong case for why a potential tenant should choose your unit over others.
For properties that don’t already have in-unit laundry, you may consider adding it as an upgrade to retain your tenants. There may be some plumbing and electrical work that needs to be done, and if your apartment isn’t already prepared with washer and dryer hook-ups, it could take some time. But, the investment will be well worth it.
2. Pet-Friendly Policies
When you allow pets, you’re capitalizing on a number of benefits. For starters, pets will bring in more money, through pet fees and pet rent. You’ll also reduce vacancy and turnover. More than half of the tenants in San Mateo have at least one pet. Trying to rent to someone without pets will take longer. And, tenants typically won’t leave when their lease is up when they have a pet. They won’t want to have to find another property that does allow pets. They also won’t want to pay another pet fee.
San Mateo is a highly pet-friendly community, so it’s no surprise that this is a major consideration for renters seeking housing in the area. To attract pet owners to your property, offering pet-friendly policies is essential. Consider allowing pets of all sizes and breeds, especially since other apartment homes might restrict what kind of pets can be moved in. Provide an on-site dog park and leave pet clean-up stations around the property so your residents can easily dispose of pet waste when they’re walking dogs around the community. Pets and pet policies are huge when it comes to amenities.
3. Technology Amenities
When you’re thinking about the amenities you want to provide your San Mateo tenants in an apartment rental, consider technology. There is a higher demand than ever for good technology. With remote work and online classes becoming the norm, internet connectivity is extremely important, especially for those tenants who are working and schooling from home.
When browsing rental properties, many tenants will prioritize properties with dependable high-speed internet connections. Make sure your property offers reliable and fast internet to attract tech-savvy renters. In addition to high-speed internet, you might also want to offer some smart home upgrades and amenities such as a smart thermostat. Even a video doorbell can be a valuable asset in an apartment building. Security cameras, too, so tenants can feel safer.
Technology can help you be more energy-efficient, which tenants will also find appealing. Those smart thermometers will cut down on wasted heat and air conditioning, and installing LED light bulbs will keep energy costs down.
4. Good Parking Facilities
Parking can be hard to come by in some neighborhoods in San Mateo, which is why on-site parking facilities are always a valuable amenity for renters. Offering designated parking spots, covered garage parking, and/or an on-site car wash station can be especially enticing to prospective tenants. When you can make life easier for your tenants, they’ll notice. Conveniences such as good parking can justify a rental increase, and you’ll find it’s a huge selling point when you’re trying to attract tenants to your property. Be sure to mention the excellent parking options in your listings and any of your marketing materials.
5. Community Amenities
Gyms, pools, and picnic areas are all great amenities to offer in your apartment community. But, you don’t have to offer those resort-style amenities to make a big difference in the quality of life you offer. Tenants are looking for communal spaces that make sense and provide a welcoming and safe space to hang out with neighbors or enjoy some time outside of their apartment, while they can still feel at home.
If you only have a small complex of four or six apartments, even a courtyard outside with some picnic tables can make a difference. Put together a den or a lounge with a television or some books so your tenants can enjoy spending time watching movies or exchanging some of their own books for those they find on your shelves.
Providing in-demand amenities is essential for attracting quality tenants to your rental property in San Mateo. By offering key amenities like in-unit laundry facilities, pet-friendly policies, high-speed internet, on-site fitness facilities, and parking facilities, you can differentiate your property from others and attract more tenants. In the competitive rental market of San Mateo, providing these amenities can be the key to your success as a landlord or property investor.
Let’s talk about how you can earn more on your rental home with amenities such as these. Please contact us at Bayside Management.
Founded in 1982 in Marin County, Bayside Management has expanded to offer full-service San Mateo property management to the entire San Francisco Peninsula. We manage single-family properties, multi-unit complexes, commercial properties, and homeowner associations.