If you’re thinking of investing in a rental property in Phoenix, Arizona, you should go for it! As the most populous city in the state, Phoenix has a strong rental market. Plus, with the city’s strong local economy, the need for rental accommodations is expected to grow exponentially in the upcoming years.
However, due to the high rental demand, there are now thousands of rental properties in Phoenix. While there’s no shortage of renters, the competitiveness of the market can make it incredibly difficult to find quality tenants.
If you want to fill your vacancies with great renters, you need to make your Phoenix rental stand out from the rest. A great way to do this is by investing in amenities that tenants love.
In this article, the team at Service Star Realty will go over the best amenities to give your Phoenix rental a competitive boost.
8 Amenities Renters Can’t Resist in Phoenix, Arizona
1. In-Unit Washer and Dryer
Renters are always on the lookout for features that will make their lives easier. A washer and dryer combo is at the top of that list. After all, no one enjoys going to the laundromat every single week because they need clean clothes.
If you own a multi-family property, a shared laundry space can make your property stand out from the rest.
2. A Modern Kitchen
A modern and functional kitchen can significantly enhance the value and appeal of your rental property. If your property’s kitchen is outdated or in need of repairs, you should seriously consider upgrading it.
You can significantly improve the look and functionality of your kitchen with simple upgrades, such as installing a new backsplash, installing new cabinetry, replacing old appliances with stainless steel ones, or investing in granite countertops. Even if you’re on a budget, you can work wonders with stick-and-peel tiles or a new coat of paint.
3. Ample Storage Space
Tenants have a lot of stuff, from furniture and appliances to clothes and trinkets they’ve acquired over the years. That’s why they all appreciate having extra storage space on their rentals.
Even if your property is small, you can make the most out of it with smart storage solutions, such as built-in shelves or furniture that doubles as storage space. However, if you have the space and funds, you should consider investing in upgrades such as building walk-in closets or expanding the kitchen’s pantry.
4. Quality Security Features
No one wants to live in a place where they feel unsafe. Even if your property is located in a neighborhood with low crime rates, installing quality security equipment can make it more attractive to tenants.
Surveillance cameras, motion-activated outdoor lights, doorbell cameras, alarm systems, and remote access control can enhance the safety of your property, giving both you and your tenants more peace of mind.
Another great investment is smart locks. There’s nothing more annoying than forgetting your keys inside your home. By installing smart locks in your rental, tenants won’t have to worry about getting locked out of their homes, and you’ll be able to control access to the property remotely!
5. Designated Parking Areas
No one wants to come home after a long day at work only to have to park their car miles from their house because the street is full. A reserved parking area is a major selling point for tenants.
After all, a garage or a designated parking spot saves tenants the time and effort of having to look for places to park their cars. Plus, in multi-family homes, designated parking spots save plenty of disagreements and disputes.
6. Package Lockers
Nowadays, plenty of people shop primarily online, whether it’s for clothes, furniture, or groceries. Unfortunately, as online shopping has grown in popularity, so has the number of porch pirates. Installing package lockers in your Phoenix rental can be a great investment.
This way, tenants will be able to shop as much as they want without having to worry about someone stealing their packages if they’re not home when the delivery man arrives.
7. Recreational Outdoor Spaces
Studies show that spending time outdoors helps with anxiety and reduces stress. It’s no wonder tenants prefer rental properties with green areas. Private balconies and patios can significantly boost the appeal and value of your property.
If you own a multi-family property, then investing in shared outdoor amenities can go a long way. This can include a rooftop with some plants and lounge chairs, outdoor kitchens with grills and tables, playgrounds, and community gardens.
8. Energy-Efficient and Smart Home Features
Many tenants, especially young folks, are always looking for ways to minimize their carbon footprint and be more eco-friendly. Energy-efficient appliances, high-efficiency HVAC systems, smart thermostats, LED lights, and tankless water heaters reduce your utility bill and make the property more appealing to eco-conscious tenants.
Smart home features are also in high demand. Gadgets such as smart locks, smart thermostats, automatic lights, remote-control access, and voice-activated personal assistants are incredibly popular with tenants and don’t cost much, making them an excellent investment for your rental!
Bottom Line
A rental property is a long-term investment. As the years go by and market trends change, you’ll need to invest to keep your property appealing to tenants.
A great way to do this is by investing in desirable amenities, such as a washer-dryer combo, smart home features, security equipment, package lockers, and well-maintained outdoor areas. Tenants will be willing to pay more for your Phoenix home if these amenities are included!
If you want to discover other ways to get more rent for your Arizona rental, contact Service Star Realty!
Service Star Realty
2929 East Camelback Road #119, Phoenix, AZ 85016
(480) 426-9696
