Property Management 4 Tenant Perks That Increase the Value of Your Property by Rachael Baihn April 29, 2019April 29, 2019 by Rachael Baihn April 29, 2019April 29, 2019 Keeping your tenants happy is an essential part of owning any rental property. Many buildings endure wear and tear over time which can decrease the value of the property. Making sure to bring your building up to date, as well as provide unique perks for residents, is an essential part of owning a successful rental property. Consider including these four tenant perks that increase the value of your property this year. 1. Maintained Landscaping The outdoor areas of a rental property should always be well maintained. Making sure to mow the lawn, keep weeds pulled, and water the grass can be a full-time job. Some small investors may do their own lawn care, but many larger investors hire out the lawn care for their properties. Tenants want to enjoy the green spaces surrounding their home which can make it an extra perk. Adding in some picnic tables, benches, and outdoor gathering areas can help create relationships between tenants as well. Tenants who develop friendships in the same building will be less likely to leave, which can raise the value of your property, especially when selling to another investor. 2. Alarm Monitors Keeping your rental property secure is an integral part of protecting your investment. Including a free alarm monitoring system for your property will give both you and your tenants peace of mind. Selling your property with a documented crime could significantly affect the property value. Crimes can also prevent reliable tenants from even considering your property in the first place. Monitoring your property not only keeps your tenants safe but it also helps to minimize the damage done to the property during a break in. Tenants may even pay more for a property that includes alarm monitoring as they will feel it is a safer and protected place to live. 3. New Light Fixtures Updating the lighting around your property is an essential part of having a secure building. Floodlights can quickly illuminate dark corners and areas where issues might occur. Solar powered pathway lights help keep tenants safe when entering or exiting the building as well. Making sure that light fixtures near entrances work properly is another vital part of keeping tenants safe. Switching to solar-powered options can cut down on your electric bill while giving your building an eco-friendly tick. A well-lit building at night will be set apart from other nearby buildings that don’t have prominent lighting. 4. Access to Exercise A big perk for tenants includes the ability to access a fitness center. Some rental owners have a gym on site for tenants to use, but not everyone wants to invest in such a significant line item. Consider asking a local gym in the area for a discounted rate to cover your entire rental building. Cheap gym memberships will help make tenants healthier as well as be a big perk for their budget. Other options include creating a walking path around the property along with recommended exercises and stretches at specific points along the way. Get creative in providing your tenants access to exercise which could be a considerable tenant perk. Providing a safe and secure home for your tenants is an integral part of running a successful business. Residents want to know that you care about them and their wellbeing. Not only would these perks help fill vacancies but they also help to boost the curb appeal of your property. Consider all of these four tenant perks that increase the value of your property this year. This article has been contributed by Rachael Baihn from LawnStarter. Start Your Investment Property Search! START FREE TRIAL Guest BlogsProperty ValuationTenants 0 FacebookTwitterGoogle +PinterestLinkedin Rachael Baihn Rachael Baihn is an avid gardener, both indoors and in her backyard sanctuary. She can often be found exploring nature off the beaten track or enjoying the company of local neighborhood dogs. Previous Post A Guide to Investing in Rental Property for Beginners Next Post A Guide to Finding High Cap Rate Properties for Sale in 2019 Related Posts Having a Negative Cash Flow Rental Property? What Went Wrong? How to Succeed as a LandLord with Pet-friendly Rental Properties Marketing Vacation Home Rentals to Increase Bookings Road to Renting: Rental Property Marketing The Pros and Cons of Professional Property Management The Investor’s Guide to Winterizing Rental Properties How to Make Money from Residential Properties in Real Estate Investing How to Rent Out to College Students – A Beginner’s Guide Driving Your Airbnb Rental Income Up in a Smart Way How to Save Money on an Income Property Tips for Instructing Your Tenants About Renters Insurance Requirements 8 Things That Make a Good Tenant Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment.