With Western Australia's hard border now down, you might be considering buying an investment property or expanding your current portfolio.
It's important to ensure your investment property meets the needs of tenants and considers what they want in a rental.
In addition to this, what people are looking for in a home has changed since living with the COVID-19 pandemic.
So, what are the must have features tenants want in today's new world?
1. Home office
As WA is expected to welcome an influx of people in the coming months, many West Aussies will have the option to work from home. In fact, in the last two years many organisations have implemented remote working as the new norm.
In light of this trend, having an office or spare room that can be used as an office is a drawcard for many tenants.
Ensuring your property has a clean, inviting space that can be used as an office is an advantage to tenants. You can even go an extra step further by putting in a desk or adequate lighting.
2. Pet friendly
As travel became out of reach, pets became in. Puppies soon were the most in demand thing, with increased prices and extended wait times.
If your property is equipped for animals, making it pet friendly is a really good way to attract tenants. It can be challenging for tenants with pets to find a rental, so you should consider allowing pets, provided you have the space.
You are also within your rights to charge a pet bond of $260 which can only be used for fumigation, any other damage caused by the animal will be the tenants responsibility.
3. Entertainment area
There's no doubt we have learnt to love the comfort of our own home. Going out to busy places has become less desirable, in a bid to stay away from potential COVID-19 exposure sites.
With this in mind, many West Aussies are becoming at-home entertainers. So, whether you are looking for an investment property or building or renovating one, anything from an outdoor kitchen to a front deck will tick this box.
4. Connectivity
Staying connected to our loved ones and our colleagues has become increasingly important during this time. Reliable mobile coverage and high-speed internet access are very appealing to most people in 2022.
Ensure there is adequate internet connection and consider connecting to NBN if it's installed in your area.
5. Good quality management
One thing that hasn't changed is the management of the property. Tenants want to be sure that if there is a problem, it will be addressed in a timely manner.
When homeowners use a licensed property management agency, they know they will have peace of mind that industry professionals will be there to manage tenant communications and maintenance, providing a positive experience for both the homeowner and the
renter.
More information
For more information on investing, read our beginner's guide to property investment or get in touch with a REIWA property manager.
