Forget all the creature comforts you might imagine, inner-Brisbane’s tenants want at least one off-street carpark! Rating this their number one feature every survey since 2013, it’s evidence our city is short on carparking supply. Those of you buying studios or one bedroom apartments with no allocated carspace will find a small tenant market for them. But the vast majority of tenants insist on having at least one.
In second spot is outdoor living space. This has been a top 3 item in our tenant surveys since we started them a decade ago, and shows Brisbanites like to spend time outside. It’s an entertainment space, a place to relax and, usually in an apartment, the only secondary living space where you can escape your flatmates or family! We’ve seen a number of new apartment towers built without external balconies, and we know these shiny glass towers can look very clean-lined and sexy. But our results show many locals will not choose that lifestyle.
Balconies, decks and courtyards are a bit hard to retro-fit in your rental property but it’s food for thought when you’re buying your next one. And it follows that improvements you make to those outdoor areas, for example adding a roof over a deck or even some simple privacy screening, would add value for your tenants.
And 3rd on the list of features tenants really want? It’s high speed internet access. Whether it’s streaming their favourite Netflix binge or spending more time working from home, tenants want to know they can plug in and put their buffering days behind them. If your vacant property is NBN connected make sure your ads mention this! Says one survey respondent: “The type of internet connection (e.g. fiber to the premise, fiber to the node, ADSL2+, satellite, etc) should be included on all property descriptions!”