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.
Collecting ‘stuff’ seems to be a growing trend, so it mightn’t surprise that storage space has been in our top 5 on every survey we’ve ever done. Tenants want a place for boxes and bikes and golf clubs and old furniture – and who knows what else! If you have a storage cage or other dedicated area please make sure your property manager mentions this in your ads.
If your garage is a separate lock-up then that’s seen as an extra opportunity for ‘stuff’ as well. Is there room for a storage locker in your apartment building’s basement? Even extra cupboards inside your property are important to tenants.
And 3rd on the list is outdoor living space. This has always rated very highly in our tenant surveys 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.