Choosing the right tenants is a key element of landlording; it’s important to get dwellers who will pay rent on time, keep quiet and clean, and report any problems they find with the building or other tenants in a timely manner. The 55+ demographic is attractive because they tend to follow rules, pay on time and act kindly towards other tenants; they’ve often experienced owning a home, and their finances are likely in order, so prompt payment of rent is to be expected. The demographic is growing, too; the Baby Boomers are all entering into this phase of their life, so attracting them to your property is an excellent idea.
Age may just be a number, but it can have profound effects on your mobility; most people within this demographic will want a property that’s easy to access and navigate. Flat, level and close are all keys here; avoid raised patios, offer ground floor units, and keep steps to a minimum. Upkeep of the grounds is key; debris, unlevel concrete, and other obstacles can cause real headaches for seniors. Consider installing a ramp for those with mobility issues; it can help you attract a large number of clients who would have trouble staying elsewhere. Other ways of attracting those with limited mobility include a minor bathroom renovation; the installation of grab bars and walk-in showers can make or break for potential tenants.
Folks who are in retirement don’t often want a lot of extra work; providing as many services as possible with little hassle is optimal. Consider all-inclusive rent for this demographic; few bills make it easier to handle finances, and a set monthly rent alleviates fears of running over-budget. Including luxuries like cable and internet in the monthly amount can incentivize buyers who don’t want to have to worry about negotiating new contracts with service providers.
Creating a place of luxury is important for attracting Baby Boomers; they’ve worked hard to earn what they have in life, and if they’re downsizing they don’t want to throw away their creature comforts. High-end appliances, quality fixtures, and hardwood flooring all serve well here. Spaces with multiple bedrooms are a good idea; even if your tenants are a married couple with no kids, it’s likely they’ll want to host gatherings for their friends and family. To this same point, having a clubhouse or other large, central gathering point they can schedule to host events is an excellent amenity.
There are myriad touches you can use to bring the senior demographic to your door; remember that not all homes are suited to all people, so when your space doesn’t fit the bill, you can modify the space or modify your sought-after demographic. There are San Antonio property management companies who can discuss the best way of advertising your property to potential tenants; they can also handle all the services that will be provided, so it’s easier to establish a set monthly rent for tenants. Property management provides a level of security for tenants, who know the home will be checked on regularly; this can be quite attractive for seniors, who want to retire in peace.