Young professionals often have the trifecta of being perfect renters: they’re quiet, employed, and clean. They’ve just started out in life and more more concerned with saving up, living life, and progressing in their career than anything else, so they make great tenants. But they’re also picky. Here’s some tips for making your investment property the ideal place for young professionals.
Young professionals are less likely to drive and therefore need access to public transit. They often like to live close to their family and friends as well, so location is absolutely key when they’re looking for a place. Rental properties close to the bus and LRT routes are more ideal for the young professional, so the closer to a stop, the better. But don’t try and convince them it’s close to an LRT when it actually isn’t. They will put the address through Google Maps and will know the actual commute times before calling you.
2. Cool Spaces
Open concept spaces with laundry and a balcony is the ideal place for a young professional, and they will pay to have all of these things. If you can, be sure to highlight the space itself, as well as any balconies or outdoor spaces you have. If you don’t have in-suite laundry, you’ll need machines on-site, and free if possible.
3. Venues and the Neighbourhood
There is a reason that Old Strathcona and Oliver are crawling with young professionals. Actually, there are multiple reasons. One, they’re both close to everything. Two, these neighbourhoods can eliminate the need for a car. Three, some of the coolest restaurants and pubs are within walking distance. Location is key for young professionals, both for their professional and social life. If you want to rent to them, you have to convince them that they can get everything they need within a few short blocks.
4. Photos and Videos
Young professionals don’t look at rental postings without photos. In fact, almost no one does these days. If you want to rent to anyone, be sure to include photos in the post. Take pictures in full light, using as much natural sunlight as possible.
Young professionals are generally quiet, career-oriented, and employed. They make ideal tenants, but that doesn’t mean they have low standards. When renting to young professionals, you’ll need to convince them your property, and the surrounding neighbourhood, is up to their standards