Some of the Las Vegas tenants you’ll encounter are looking for a single-family home with a yard and a garage. Others will want a low-maintenance condo with a community pool and proximity to work.
It’s hard to provide a rental property that appeals to every tenant in the market. But, there are a few things that nearly every renter wants when they’re looking for a new home. When you’re trying to appeal to as many potential tenants as possible, pay attention to what most of them want.
We’ve assembled a list of the top five things tenants are looking for in a rental property, based on our decades of experience as Las Vegas property managers.
1. Las Vegas Tenants Look for Location
You’ve heard it and seen it before: Location, Location, Location.
You don’t have to be a real estate expert to understand that location is critical when it comes to selling homes. It’s important for rental properties, too.
It’s especially important in a rental market like Las Vegas, where desirable neighborhoods like Summerlin, Tuscany, and Green Valley Ranch are in high demand. We work with tenants who want homes in other Clark County locations like Henderson and North Las Vegas as well.
Each tenant has a different priority when it comes to location. Some of them want to be close to work. Others want to be close to good schools. For some tenants, easy access to downtown or The Strip or some of the recreational parks in the area becomes more important.
The point is: the location of your rental property will have a huge impact on the type of tenants you attract. A well-located home is going to rent for more and attract more interest than a home that’s nestled into a commercial neighborhood or out in the middle of nowhere.
Tenants want to be in a good location, where there are schools, restaurants, grocery stores, and other conveniences. Unless a tenant is specifically looking for a remote and isolated home, providing a property that’s central to work, school, and entertainment and recreational opportunities is important. Think about this when you’re purchasing an investment property. Will the location attract tenants and increase your rental value?
2. Tenants in Las Vegas Want Pet-Friendly Homes
Deciding whether to allow or prohibit pets is something that trips up a lot of owners. The thing is, many potential renters have pets. More than half of the tenant pool, actually. If you’re planning to rent out a home but you’re not allowing pets, you can expect a longer vacancy period. Tenants are looking for homes that will allow their furry family members. By welcoming pets into your rental property, you’re going to attract more tenants and earn more money.
Tenants are looking for pet-friendly homes. It’s good for owners, too.
- Pet-friendly homes have lower vacancy rates. A majority of renters in Las Vegas have at least one pet. Not allowing pets eliminates a lot of people from your tenant pool.
- Pet-friendly require higher security deposit. You’ll hold that money in case there’s damage caused by the pet.
If you’re worried about the risk that often comes with pets, all you need is a good pet policy. This will protect your investment property and show tenants what you expect in terms of behavior, maintenance, and cleanliness. Establish limits and guidelines in your pet policy as well.
Pet policies allow you to set boundaries. Maybe you want to have a maximum of one pet per property. Or, you can allow two pets; one dog and one cat or two dogs. Consider restricting the age of the pets. Maybe you’ll allow full-grown cats and dogs but not kittens and puppies. Many property owners will restrict dog breeds that are deemed dangerous. These are reasonable restrictions and they still allow you to earn more on your property.
3.Tenants Want Modern, Upgraded Homes
Las Vegas tenants are looking for well-maintained homes.
You’ll get the attention of prospective residents when you’ve made some upgrades and improvements that raise your rental value. Before you list and market your property, make sure it’s move-in ready. You want everything clean and functional. All the kitchen appliances should work well and match. Upgrading to stainless isn’t absolutely necessary, but you don’t want a white fridge and a black dishwasher. It looks mismatched and uneven.
Renters in Las Vegas have high expectations. They are looking for fresh paint before they move in. If your home has paint that’s scratched, faded, or chipping, do a complete painting job. It’s a mistake to simply touch up a spot or two. Tenants will easily notice that, and they won’t be impressed. Painting the entire wall will make it look modern, new, and clean.
Floors are also going to need your attention when you’re thinking about how to attract the best tenants. Most landlords expect their carpet to have a lifespan of five to seven years, but you don’t want to keep it that long if there are stains, tears, or even wear. You’re likely to steam clean it professionally between tenants, but when it starts to look old and deteriorated, pull it up and replace it.
Removing the carpet and replacing it with hard surface flooring is an upgrade that tenants will appreciate. These floors will make a big difference in how your property shows and will allow you to charge a bit more. Tenants like vinyl, laminate, tile, or hardwood floors because they’re easier to maintain and clean. There are fewer allergens as well.
While you’re looking for ways to attract good tenants with maintenance and updates, don’t forget your kitchen. Tenants are looking for space and storage. Instead of repairing old appliances, replace them with newer, energy-efficient models. Make small changes to hardware around the sinks. New drawer pulls are inexpensive and can provide an immediate boost to the way the kitchen looks.
Bathrooms are important to tenants, too. They should look clean and modern. Remove any old, worn, or stained showers and replace flooring that’s peeling or scratched. Installing new hardware like faucets and drawer knobs can give the space a tremendous makeover.
4. Las Vegas Tenants Look for Security and Technology Access
How safe is your property for prospective tenants? This is becoming more of a concern for renters than ever before. Safety is always going to be on the minds of prospective tenants. Evaluate your home for safety. Having smoke detectors and carbon monoxide detectors that work is crucial. You also want to be sure your doors and windows can lock, open, and close with ease.
Check the landscaping outside. If tall bushes and trees cover up your windows, it could be hard for tenants to see who is outside. Look for ways that you can improve the exterior lighting. Motion lights on the side of the house or on garages can be a great way to help tenants feel more secure. There should be a clear path from the driveway to the home.
A lot of tenants are looking for something more. They rely on technology to keep them safe and to automate some of the simple functions in their homes. A property that’s smart-home enabled will really attract some of the best tenants in Las Vegas.
Doorbell cameras, for example, are growing in popularity. Make sure you’re willing to allow tenants to install them. Provide the option of security systems. You don’t have to pay for them, necessarily, but you can offer that technology to your tenants if they want to pay for the service.
Accessing good internet connections is more important than ever for tenants. They’re working and learning from home more than they did years ago, so properties with built-in workspaces and plenty of outlets will be well-received on the rental market.
5. Professional Las Vegas Property Management
Tenants prefer renting from a professional Las Vegas property manager rather than an independent landlord. They know they can count on conveniences like online rental payments, immediate responsiveness when it comes to maintenance and emergencies, and legal compliance that protects their rights and privacy.
Professional management makes life easier for owners. It also impacts the type of rental experience tenants have. With professional property managers responding to their needs and taking care of maintenance and rent collection, they expect that things will be handled consistently and without disruption. This is important to tenants who are looking for a safe, pleasant place to live. They don’t want to worry about calling their landlord over and over again for the same repair. They don’t want to misunderstand what’s in the lease agreement.
We have some great strategies for attracting and retaining Las Vegas tenants. If you’d like to hear more about our work, please contact us at New West Property Management. We’re passionate about the services and value we provide to the owners and investors who trust us with their properties. Our team expertly manages residential rental homes in Las Vegas, including Henderson and North Las Vegas.