Everyone knows that location is essential when it comes to real estate and rental properties.
Amenities are almost as important.
Tenants want to love where they live, and that’s why there’s a demand in the Nashville rental market for amenities that contribute to a pleasant and convenient rental experience.
Preferences have evolved. With remote work trends, smart home technology growing in availability, and a desire to save money and live a little greener with environmentally sustainable features, rental property owners need to pay attention to what tenants really want.
As Nashville property managers, we have a good idea of what tenants look for when renting a home. Here are the top 5 amenities that renters look for in Nashville properties.
1. Pet-Friendly Policies and Features
Pets. Maybe you love them and worry about the potential damage they can do. Either way, a pet-friendly property is usually a more profitable property. That’s because the overwhelming majority of Nashville tenants have at least one pet.
Ignoring tenant demand for pet-friendly properties and features can result in missed opportunities to fill vacancies and maximize revenue.
Pet-friendly properties often enjoy higher tenant retention rates. Why? Pet owners know how challenging it can be to find rentals that don’t just allow pets but also offer amenities catering to them.
When renters find a property that accommodates their pets, they’re more likely to stay longer. This reduces turnover costs, such as marketing, cleaning, and repairs, saving landlords both time and money.
Allowing pets and offering pet-friendly amenities often justify charging higher rents. Renters are willing to pay a premium for features that improve their and their pets’ quality of life. Services and amenities that make the most sense include:
- Dog parks and pet washing stations, if you’re renting out units in a building or a multifamily property.
- Fenced-in yards if you’re renting out a single-family home.
- Durable Flooring that’s scratch-resistant and easy to clean.
Some rental property owners have avoided pet-friendly policies and amenities because they’re hesitant about allowing animals. You might fear property damage and extra liability, and while this concern is valid, it can be mitigated with well-crafted pet policies.
Charging a reasonable pet deposit or monthly pet rent offsets potential costs and demonstrates that you value responsible pet ownership. Additionally, establishing clear rules—like specifying acceptable pet sizes or requiring professional cleaning upon move-out—ensures both property protection and tenant satisfaction.
2. In-Unit Laundry Capabilities
When was the last time you went to a Laundromat?
They’re not a lot of fun, and that’s why it’s so important to tenants to be able to do laundry in the privacy of one’s own home.
According to a recent National Multifamily Housing Council (NMHC) survey, in-unit laundry is among the top three most requested apartment amenities across all demographics. Ignoring these preferences means losing out on a competitive edge in the rental market.
It’s about convenience. With busier lifestyles and more flexible work schedules, tenants seek amenities that minimize hassle and save time. Having in-unit laundry allows tenants to avoid trips to Laundromats or shared facilities, offering the luxury of doing laundry on their own time in the comfort of their homes.
To fully appreciate the value of in-unit laundry, consider the challenges renters face with shared laundry setups.
- Hygiene Concerns. Many tenants feel uneasy sharing washers and dryers with neighbors, particularly since the worst of the COVID pandemic a few years ago. This is when the demand for in-unit laundry really began to take off.
- Scheduling Hassles. Waiting for machines to be free can be frustrating and time-consuming.
- Equipment Quality. Shared facilities often come with outdated, poorly maintained machines, leading to frequent breakdowns.
- Security Risks. Traveling to on-site or off-site Laundromats (especially at night) may pose safety concerns for some renters.
Providing an in-unit washer and dryer solves these pain points and positions your property as a top choice for renters in Nashville.
3. Smart Home Technology
Smart home features cater to a variety of tenants, from remote workers who spend a lot of extra time at home to younger tenants who are interested in having the latest gadgets and gizmos when it comes to tech. Studies have shown that rental properties with integrated innovative technology rent faster and for higher prices than those without.
When we talk about smart home technology, we look at a broad spectrum. Here are some of the most popular smart home amenities among tenants.
- Smart Locks for Keyless Entry
Tenants value security and convenience, and smart locks provide both. These devices allow tenants to lock and unlock doors via smartphone apps or PIN codes, eliminating the need for physical keys. Some systems also enable temporary access for visitors or service personnel, which is perfect for tenant peace of mind.
This does not only benefit tenants. It also streamlines the move-in/move-out process, and landlords do not have to worry about collecting keys or changing locks. If arranged with tenants, it also provides remote access for property inspections or maintenance.
- Smart Lighting Systems
Smart lighting allows tenants to control brightness, color, and on/off schedules through voice commands or apps like Alexa or Google Home. These systems can also include motion-sensor options, which are ideal for entryways or security lighting. Scheduled lighting enhances the perceived value of your property and offers an added layer of security for tenants.
- Smart Security Systems
Peace of mind is key for tenants, and innovative security systems provide precisely that. Cameras, video doorbells, and sensors allow tenants to monitor their property in real time, even when they’re not home.
- Voice-Controlled Devices
Consider adapting your Nashville rental to sync with smart hubs like Amazon Echo or Google Nest. Integrating these devices can make tenants feel right at home from day one. They can control connected devices such as lights, thermostats, and even entertainment systems. It creates a unique selling point for your property and sets your rental apart from others in the market.
Smart home upgrades do require an upfront investment, but the return on investment (ROI) can be significant.
4. Sustainable Features
Going green for a lot of tenants is about a sense of environmental stewardship, but for owners and investors in Nashville, it’s a good business choice. Amenities that are environmentally friendly and more sustainable get the attention of good tenants quickly. They also save money for both residents and owners.
Here are some of the top sustainable features and amenities that today’s renters value.
- Energy-Efficient Appliances and Fixtures
Energy Star-rated appliances, low-flow toilets, and water-efficient showerheads are all simple yet effective upgrades that appeal to renters watching their utility bills.
- LED Lighting
LED lighting can last up to 25 times longer than traditional incandescent bulbs and uses just a fraction of the energy.
- Green Amenities
Tenants value properties that make recycling simple with dedicated bins and clear instructions.
- Smart Thermostats and Home Systems
Smart thermostats offer convenience and cost savings by optimizing heating and cooling cycles.
- Smart Lighting
Motion-sensing or voice-activated lighting controls are both energy-efficient and modern, enhancing tenant satisfaction.
- Sustainable Building Materials
Nature-conscious renters highly value flooring and finishes made from bamboo, recycled metals, or other sustainable materials. High-quality insulation can drastically reduce energy waste, making the property more comfortable to live in and less costly for tenants.
Offering these types of amenities can increase your rental value, attract quality tenants, and lower your operating costs.
5. Outdoor Space
Whether it’s a large, fenced yard with plenty of space for outdoor dining, a fire pit, and even a playground or simply a courtyard shared by multiple tenants, Nashville renters get excited about outdoor space when they’re renting a home. Even a patio or a balcony in an apartment building can make a difference.
Tenants love outdoor space because it allows them to enjoy fresh air and good weather. It’s also an extension of their living area, allowing them to maximize their space outdoors and indoors. It helps to rent out a home that’s close to parks and areas of recreational interest, but having an outdoor space right there at home is a huge plus when renting out a Nashville property.
For multifamily renters, this also contributes to a sense of community, which many tenants are likely to appreciate. A courtyard, picnic tables, or even a community garden creates a sense of community by enabling tenants to interact with neighbors. This enhances overall tenant well-being through access to nature and can be used for relaxation, entertaining guests, or even gardening, ultimately increasing their satisfaction with the rental property and making them more likely to renew their lease.
When it comes to effectively renting out a home in Nashville, you have to know what tenants want.
Are you wondering if your property’s amenities measure up? Let’s take a look. Contact us at Apex Ventures, Inc., and we’ll ensure that your Nashville rental home can compete for the best tenants.
