One of the more surprising recent trends in rental property management in Aurora is the popularity of single-family rentals in the suburbs. These properties offer the best of both worlds to a generation of adults who want the suburban lifestyle without being tied to a mortgage.
Driving this trend are millennials who value flexibility, community and family. They’re skipping home ownership in exchange for the freedom that renting gives them. They get the lifestyle they want without saving up for a down payment or budgeting for home repairs and maintenance. Yet, not all rentals are equal. Certain features make some rental homes more appealing than others.
Sustainability is important to millennials. One way to make your property stand out from the rest is to make it environmentally friendly. Choose native plants in your landscaping to reduce water consumption and pesticide use. Install solar panels to lower electricity consumption. Upgrade the insulation in the home and replace drafty windows and doors to keep heating and cooling costs under control. You may even be eligible for tax credits for these improvements.
It’s no secret that millennials have a thing for technology, but they use it for more than checking social media accounts. They take advantage of the way it simplifies their lives. At the very least, there should be wi-fi available at the property. You may also want to consider installing smart appliances or security systems renters can access through their smart phones.
Millennials like spaces they can customize and change to suit their lifestyle needs. You don’t have to completely remodel your house to attract millennial renters, but you can do simple renovations that make the property more appealing. Install a fence around the backyard where their children and pets can play. Add doors to the dining room so it can double as an office or spare room. Add closet space even if it means reducing the size of the room.
When millennials make the decision to rent instead of buy, they often have maintenance in mind. They don’t want to spend their weekends landscaping, vacuuming the swimming pool or tinkering with the garbage disposal. Neither do you. That’s why our services for rental management in Colorado include access to local vendors who can keep your property in excellent shape for you and your renters.
Rental property management in Aurora continues to meet an important need in the community.
We’re here to help. Put our knowledge of the industry to work for you protecting your investment and meeting the needs of your renters.