It’s not the easiest time to be a property owner looking for tenants, is it? The coronavirus pandemic has made life hard for everyone. Health and safety concerns have greatly affected the way we all interact with each other. Nevertheless, there are still many people looking for both new places and new careers. Can the search for both a new home and a new job be combined?
The current state of things certainly suggests so. COVID-19 has brandished entirely new ways of earning a living. Much of it, as you’re surely aware, is done from home. With so many working individuals transforming their homes into offices, it’s wise to consider the modern-day need to work from home (WFH) as a highlight of your rental property. How can you make your rental property more attractive in a WFH age?
Highlight your excellent Wi-Fi.
If there’s one thing that a working-from-home professional requires, it’s internet access. The majority of people who work from home utilize the internet to connect with their co-workers, clients and customers. In addition to allowing traditional e-mail and website use, a Wi-Fi connection will ensure your tenant-slash-working professional that he/she will be able to conduct virtual meetings. Megan Wild of All Property Management contends that a strong Wi-Fi connection is an especially valuable asset for millennial renters.
“86% of millennials own and use a mobile phone regularly,” she reports, “Once they become renters, they will appreciate being able to pay and request services online. Enabling online payments and maintenance tickets can make your job easier, too…You will need excellent Wi-Fi, of course, or at least be ready for an ISP hookup of the tenant’s choosing. USB-equipped wall plates for charging won’t go amiss either, if you’re feeling especially hospitable.”
Promote the spaciousness of your basement.
Naturally, a person who works from home needs a functional work space. Allow us to clarify the emphasis on the word “space”. With greater space available at your rental property, would-be tenants will be able to see greater possibilities. Does this place allow me to comfortably live and work from home? This is a question you want to have answered “yes” by each person who takes a look at your property. This can easily be made possible if you have a basement.
On Medium.com, Thomas Smith points out that unutilized basements are far more cost-effective work spaces than traditional commercial facilities. In addition to being affordable living spaces, basements provide ample space to work.
A basement, believes Smith, “can make a great (or at least easy to access) place to work on a venture that requires testing out a product, building a larger physical item, etc….I’ve worked out of several unfinished basements…Commercial spaces for rent were way above my budget…I was ultimately able to negotiate a space in the unfinished basement of a building in a prime location.”
Renovate the garage.
Although generally smaller than a basement, a garage can be transformed into an excellent work area. While you’re not likely to rent the garage as a living quarter, setting it up as an ideal work space is sure to lure working-from-home professionals to your property. Ensure that there is ample lighting, set up a desk, put up a whiteboard and place some office chairs around. Showcase what a welcoming work environment your would-be tenant would get out of your garage.
“A garage is actually a pretty good space to work in,” asserts Smith, “Once you remove the car (park it on your driveway if you have one, or take over one half of a two-car garage), they’re big, rectangular rooms with lots of space for work areas and larger projects. Unlike a basement, a garage is also above ground, so you have fewer issues with mustiness and humidity, plus you can open the door to get some natural light and airflow.”
Smith does note, however, that climate control may be an issue. He suggests improving the insulation of the garage and putting weather stripping around the door.
As always, it’s imperative you do your due diligence to ensure you land upon the right tenant for your property. That’s where SingleKey comes in. They can help you by offering the fastest credit and background check in US & Canada – ready in only 5 minutes!