I’m stunned. According to an Upwork study covered by NPR, the United States is eyeballing an influx of 14-23 million remote workers. It turns out there were a ton of people staying in their cities because of their proximity to their employment. Now that COVID-19 has proven that people are fully capable of remote work (and it’s much cheaper for their employers), the U.S expects the work from home trend to hold. Here are the Top 5 Features Remote Workers Look for in Rentals.
Top 5 Features Remote Workers Look for in Rentals
What kind of people are remote workers? They move around easily, have disposable income, they more than likely single people or childless couples. They focus on studios, one- to three-bedroom condos, and small single-family homes. The three bedrooms’ appeal involves couples who both want their own office, and the extra bedroom can be for overnight guests.
People that do not have kids but do have money are likely to have pets. Time is money in rental management, and the longer my property sits vacant, the less money it makes. The majority of rental properties advertise their vacancies as “no pets.” A recent study found that 27 percent of rental properties in the U.S. promote “pets OK,” compared with 73 percent advertised as “no pets”—based on a sample size of 61,790 units. Why cut yourself from 73 percent of the rental market?
Well, they say, pets cause damage. They increase wear and tear, which could negatively affect my bottom line. But you could think this way: pets are a potential income source for your properties. If your state allows it, you have the option to charge an additional pet deposit on top of a standard security deposit from your pet-owning renters. Use pet deposits for cleaning a property or repairing damage caused by a pet. You could also charge a pet fee of $10 to $30 a month. Related: Why I Will Always Allow Pets in My Rental Property
Save yourself some headaches and pay for the excellent wifi. This will help you avoid calls and tension between you and your tenant during their stay. Tenants working from home consider this a must.
A lot of remote workers bring cars and need parking. One parking spot is all you need. If you live in a city and have two spots, consider renting out the second spot to a different party.
Make your rental listing more attractive by including pictures of a shelving unit or a rolling cart. Make sure your rental has Android and iPhone chargers, a Macbook charger, Post-It notes, notebooks, pens, stapler, scissors, and a corkboard.
These extras are perks, and for a tenant who works from home, you occasionally use these things and are nice to have on hand.
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