When it comes to renting, the community feel of a building is not something to ignore. Rather, it’s something that should be invested in. That’s because having a place with a sense of community fosters an environment that feels like home. Not only will this likely result in higher retention rates for tenants but it is an attractive feature that can pull in new ones.

So, if you’re a landlord, consider building a better rental community by investing in these five features.

1. Host Events

Although it may seem simple, hosting regular events for your building’s tenants can have a significant impact on how they feel about living there. These events don’t need to be elaborate, but something simple that shows you’re taking the initiative to meet everyone in the building.

Plus, bringing together others can go a long way in making residents feel connected. Some ideas for events that you can host are BBQs, trivia nights, bingo, potlucks, etc.

2. Listen to Feedback

Another idea for building a better rental community is to encourage the tenants to share their ideas and add their input to the place. This will give renters a sense of community and make them feel like they have a say in what goes on around the property.

Otherwise, tenants can feel like the home isn’t really theirs and like their ideas are not being heard. So, be sure to make them feel seen and like their concerns are justified by asking for and listening to their feedback.

Feedback is also important to determine what areas of the home could use attention.  That’s because, what tenants have to say can offer a new perspective on things like maintenance, communication, and upgrades.

3. Create Gathering Spaces

Having spaces where tenants can go to enjoy themselves and get out of their units is a great way to foster a community feel. That’s because it forces tenants to get together and relax, all while still on the property. Things like outdoor dining areas, designated pet-friendly walking spaces, pools, and terraces can all present opportunities for tenants to meet their neighbors.

Additionally, these spaces are seen as attractive features to current and potential renters given that they won’t need to leave their homes to get the benefits the spaces provide. So, if you’re an owner and have some free space consider upgrading or re-doing it to encourage tenants to get out of their homes and interact with one another.

4. Offer Amenities

It’s no secret that renters pay close attention to what amenities a building has to offer. Oftentimes, prospective renters make their final decision based on what a building has. Some of the most commonly requested amenities in a rental property are gyms, pools, BBQs, and media rooms. All of these amenities are seen as attractive features that allow tenants to interact with one another, host guests, and still remain on the property.  

5. Allow Pets

The final way that landlords can help tenants make a rental feel like a community is to be lenient with their pet policy. Of course, some landlords may not want animals in their homes. But, being lenient with pets can make tenants happier, and want to stay at the property longer.

So, if you’re an owner wary of pets, consider allowing certain low-maintenance types (such as cats). That way renters feel like every member (pets included) of their family is accepted and welcomed in their home.

Ultimately, as a landlord, it’s up to you to foster a welcoming community. If you’re unsure how to start changing the environment of your rental, PMI Midwest can help.

For more information on what we can do to improve your rental community, call 317-546-3482 or email info@midwestpmi.com.

06/18/2022