Buying investment properties with the intent to lease them is a good way to earn added rental income, but you must find a way to make your property appealing to your target demographic. This guide aims to help landlords transform their investment properties into child-friendly havens to attract families for the short or long term.
Construct A Small Playground In The Backyard
Kids usually like to play in backyards, so it makes sense for landlords to incorporate small playground features for attracting families. For example, you can install a small swing or seesaw set into the investment property's backyard. This encourages kids to spend time enjoying healthy entertainment instead of playing video games. Families with young children are far more likely to choose rental properties with ready-made child-friendly features because it reduces their workload. Your investment property with a small backyard playground will be more appealing to them than others.
Choose A Family-Friendly Suburb
When landlords buy investment properties with the intent to lease to young families, they need to focus on the location and family friendliness of the suburb. For example, some suburbs are known to cater more to young families thanks to their proximity to schools, parks, public transport, childcare centres and sports centres. As a landlord targetting young families, you'll naturally want your investment property to be within easy access of all these amenities because it will likely be far more attractive to this demographic. Families with children going to a neighbourhood school are also likely to sign longer tenant contracts because they don't want to displace their kids often, giving you an opportunity to secure a long-term lease with your tenants.
Add Safety Features Around The Investment Property
As a landlord, you can either choose to lease your investment property as a furnished or unfurnished apartment. If you are planning to offer a furnished property to young families, then you should add some safety features, knowing that your tenants have young children. For example, installing gates around stairways and doorways is a good safety measure. This prevents kids from walking around unsupervised. You can also add well-padded furniture with minimal edges. You may want to avoid using too many furniture items made of glass because they can break and hurt children. Tenant families looking for furnished rentals will appreciate your effort as a landlord and will more than likely choose your home above others.
Landlords looking to attract young tenant families with children should follow these tactics for transforming their investment properties into child-friendly havens.Share
28 January 2016
Welcome to my blog. My name is Anita. I am an artist and a writer, but I like to create with any canvas that I have, and that includes my home. I see homes as almost blank slates that need special touches to make them shine. Over the years, I have received a lot of calls from friends. When my friends need to sell their homes or have them appraised, they call me for advice. I think I've helped a lot of them get higher evaluations than they would have otherwise, and I love advising them. If you want tips and ideas on getting great appraisals, this blog is for you.