What makes a rental property a family home? Properties in school catchment areas, with a fully fenced and secure yard, near parks and shops will often appeal to this particular demographic.
Families are a great demographic to target should you rental property suit them. They tend to be long-term tenants and are keen on paying higher rent as long as your property meets their needs. These are some of the features most families look for.
Location
Families are often seeking homes in specific school catchment areas. Proximity to public transport, places of work, shops and parks is also important.
Rooms and Layout
An extra bedroom is always appreciated especially for larger families or for parents who need extra privacy with a home office. The layout of a home is important and the placement of the bedrooms are also a deciding factor.
Fenced Yards
A fully-fenced yard is an attractive feature for families, who are seeking a space for younger children to play. Families who love to entertain guests also find a spacious outdoor area to be key.
Pet Friendly
Families are often seeking pet friendly properties. If your property is fully fenced and has a yard then it would be advisable to consider allowing pets. This would depend on the type of pet and insurance and tenant agreement you have to protect your property from pet-related damage.
For your free investment property health check, please contact 07 3123 7373 or lauren@rentalresults.com.au
