What do tenants look for in a property?

In order for you the investor to succeed in the real estate game, seeing the deal through someone else’s eyes is essential to your success. We have previously looked at what a banker looks for in a real estate transaction. Suppose you have a found a great property and have closed the deal with bank financing in place and you are preparing it for a tenant to move in. The question now becomes what the tenant wants in a rental property.

A beginning investor will immediately respond that the tenants (customers) want a low rent. That quick answer is not correct however. In fact, one of the biggest draws for a tenant is the location of the property.  The old adage of location,location,location is also true for them as well as a property investor.

For more details, please refer to these two articles:

10 Amenities Tenants desire in a property: http://tinyurl.com/n99sxpq

What tenants really want in rental properties: http://tinyurl.com/kb3tq2t

Skyrocketing rents hit ‘crisis’ levels

Since the housing crisis began in 2008, approximately 4.6 million homes were lost to foreclosure, according to CoreLogic. The vast majority of those homeowners became renters. Even as housing recovered, credit tightened, pushing even more potential buyers out of homeownership and into rentals, both apartments and single-family rental homes.

Read more: http://www.cnbc.com/id/101258649