When you first think about it, you might think that renting your property to a family with children is a terrible idea. You’ll probably picture marker on all the walls, crumbs wedged into every nook and cranny, and carpet stains created by who knows what.
It’s true—families can be a mess. However, you shouldn’t write them off entirely when you are searching for a tenant for your rental property. For one thing, such discrimination is illegal; but for another, family renters have a lot of benefits as well. Read on for a few of those benefits, and also for tips about how to attract families to your rental property.
They are often more financially established.
Generally speaking, it is pretty common for parents to be a bit older, and more established in their careers, than younger, childless tenants. Financial stability can only mean good things for you as their landlord.
There is more potential for a long-term lease.
Families with children do not want to be moving around very often. Not only is moving a bigger job for them (more clothes, more furniture, and all those toys!), but it is also difficult emotionally for children to move frequently, especially once they are in school. For these reasons, parents are probably looking for a home they can rent for a while, rather than a temporary living solution.
You’ll have to clean the house anyway.
Sure, the walls might end up a little more scuffed up than you’d like, but chances are, you’ll want to paint them before the next tenant moves in anyway. Yes, the carpets might take a beating, but again, cleaning or replacing the carpet between tenants is pretty standard. The truth is, there is very little that children could do to a house that won’t be taken care of in a standard tenant switch.
For those things that end up being broken or damaged beyond repair during the family’s stay, you can use your security deposit. In other words, you are pretty much covered when it comes to paying for any extra damages renting to a family might incur.
You can make family-friendly changes.
If the idea of renting to a family appeals to you, consider making a couple small changes to your home that will make it a more attractive choice for families. For instance, getting rid of carpet in high-traffic areas will benefit both you and the family, since carpet is more difficult to keep clean. Also, when repainting, use a paint with a finish other than flat. Flat paint shows scuffs and fingerprints much more easily, which means those walls will start looking dirty, fast, if children are living in the house.
You’ll need to change your marketing strategy.
If you think your property may be good for families, you’ll want to rethink how your market it. You’ll definitely want to point out the high points of the neighborhood, for example. Are you close to a park? Are you zoned for good schools? Are there lots of other children in your neighborhood? Low crime rate? These are all things that families with children will care about—a lot.
The house itself should also be marketed differently. Families with children want lots of storage space, an enclosed back yard, and a separate bathroom for the kids. If you happen to have a den, basement, or loft in your house, point out that those areas could be used as playrooms for the kids. Highlighting these “kid-friendly” features will make your house a much easier sell.
Renting to families with children might seem stressful at first. Take a deep breath, recognize the positives, and embrace it!
If you want help marketing or managing your rental property, contact Real Property Management today. We can help you find and keep good tenants that will help you turn your property into a profitable business venture, with minimal effort and hassle on your part. So give us a call at 480-719-1243. We’d love to see what we can do for you!