Target Women Wisely to Fill Rental Vacancies

By E-Renter Tenant Screening
Posted on April 26, 2010 under General | Be the First to Comment

In the home-building game, smart competitors are paying attention to what women want. And in a competitive rental market, property owners, managers, and landlords should, too.

Women are signing home-buying contracts in larger numbers than ever before—up to 25% of all U.S. home purchases, according to the National Association of Realtors. If women are buying more homes, it makes sense that they are renting more homes, too.

So what do women look for when considering a new place to live? It can vary, of course, depending on the area, her lifestyle, and her needs. But builders who are training to become “certified” in women’s housing needs are reporting the following as big plus signs that women want:

1. Walk in closets: a must for every bedroom.
2. Closets that pull double-duty: gift-wrapping or craft stations are a big hit. Simple upgrades like cubbies, drawers, and a few big dowels that serve as wrapping paper rollers are easy and appreciated.
3. Nice-looking hardware on cabinets and drawers: contemporary, clean, and heavy hardware lasts and looks great.
4. Security systems: motion detectors and alarms help women feel safer in their homes.
5. Granite kitchen countertops: higher-end counters can help move a rental home from “for lease” to “lease signed” faster.
6. Plenty of bathroom storage: this includes “hidden” storage for easy access to everyday products like hair dryers, as well as for keeping reading materials out of sight.
7. Contemporary light fixtures: look up. If you see cheap-looking, 1980s lights, replace them quickly!
8. Quiet ceiling fans, bathroom fans, and dishwashers: women like peace and quiet, and “whispering” fans and appliances are everywhere these days, so why not provide them?
9. “Drop zones” where groceries can be placed just inside the kitchen door make good sense.

Not all rental homes are suited to such upgrades. But if you are targeting the section of the population who can afford a higher-end rental, you might be surprised at the simple things you can do to your property to make it more attractive to women renters.

And, it’s certainly true that many men want these same features in their homes, too. Many of these upgrades are just nice design features that appeal to everyone. Look through your vacant rentals and see about making a few smart upgrades that will target new tenants!