A Condo’s Selling Point: Ensure Your Condo’s Selling Points Meet Your Tenant’s Needs

Attention condo owners! Don't let your rental property collect dust because you're missing out on the key selling points that tenants are looking for. Get ready to boost your rental income with PropertyScout's guide on how to tailor your condo's selling points to meet your tenant's demands and needs!

Why a selling point matters

Investing in rental properties is on the rise, particularly in the condo market. With the potential for steady monthly income, it's no surprise that many are considering it as a passive income option. But to attract tenants and earn the best returns, it's crucial to identify the selling points of your condo rental.

The reason why many people tend to lean more towards condos as opposed to houses is that nowadays houses are often located far from the city, making it difficult for those without private cars to travel while some areas may lack convenient amenities. Condos, on the other hand, are a type of property that attracts attention because they are located near convenient amenities and public transportation, making them easy to travel to and suitable for many workers, especially new graduates and those who do not yet want to start a family.

The Checklist

The following are the selling points to consider if you are looking to get your condo rented out quickly.

Complete Furnishing

When looking for a rental property, one of the key considerations is whether the room is fully furnished or not. This means that the room comes with all the necessary furniture and decorations, ready for immediate use. Ideally, the room should also include electrical appliances such as a refrigerator and washing machine.

Why is it important to have a fully furnished room? Well, tenants have a different mindset compared to property buyers. They are only looking for a temporary place to stay, so it is more convenient for them to move into a room that is already furnished, rather than having to spend time and money on buying furniture and appliances. Therefore, having a fully furnished room can make a rental property more attractive to potential tenants.

Location

The next important factor to consider when looking for a condo is its location. Just like the unit itself, the location plays a crucial role in a tenant's decision-making process. It can even be the primary factor to consider. Thus, it's essential that our condo's location has exceptional features that stand out, such as being situated only 300 meters away from the BTS station or being close to various amenities, including restaurants, shops, department stores, and community malls. Moreover, it should be accessible to hospitals and parks, both within and near the project area. Furthermore, it should be easy to travel to different places, both for those with and without private cars.

Common Areas & Facilities

The availability of common areas is a crucial consideration for prospective condo tenants, as these spaces often contain facilities that make daily living more convenient and comfortable. Condominium developers typically provide well-designed common areas, which have become even more popular since the onset of the Work from Home era. Tenants usually prioritize amenities that are generously sized, well-maintained, secure, and private.

Fortunately, there are numerous condo projects that offer a wide range of facilities, from basic features like fitness centers and gardens to more specialized offerings such as co-working spaces, co-kitchens, theaters, game rooms, and even meeting rooms.

Parking

It's no secret that a lot of condo dwellers nowadays own their own cars and motorcycles. This is due to the fact that some projects are not conveniently situated near public transportation options like buses or trains. As a result, the condo projects that renters are interested in must provide ample parking space. Furthermore, legal measures must also be put in place to ensure proper parking arrangements, as many projects operate on a first-come, first-served parking system. As a result, inadequate parking spaces can be a major issue, especially during late hours.

Being situated near the BTS sky train system

Living near a BTS station can be a significant advantage for tenants who don't own a car. The BTS network has grown and now covers nearly all parts of Bangkok, and with new lines continuously being developed, it has become an essential mode of transportation for those without private vehicles. It not only saves time and energy by avoiding road traffic, but also provides easy access to neighboring provinces and other means of transportation for reaching important destinations.

The View

The topic of scenic views may appear to be of little significance, but it is actually quite essential to many tenants who want to enjoy a stunning and comfortable view from their living spaces, rather than being greeted by the sight of another building right outside their window. As a result, high-rise condominium projects are often preferred as they offer a broader and uninterrupted view.

In contrast, low-rise and mid-rise condos need to provide sufficient surrounding space to create a more extensive and pleasing view. This can be achieved through well-planned gardens and strategically allocated open spaces that are both appealing and organized, ultimately reducing the impact of unsightly views.

A well-positioned unit

While we have discussed the building's exterior at length, let's shift our focus to the interior. One crucial aspect to consider is the location of your unit, which is usually indicated on the project's floor plan. This information includes details like the unit's orientation and nearby amenities.

For instance, the direction your unit faces, whether it's north, south, east, or west, can significantly impact its desirability. Units facing west, for example, can receive intense sunlight and heat during the afternoons, making them less attractive to potential tenants. Therefore, units facing north are often more popular. Also, tenants generally avoid units located near the garbage chute or elevators due to unpleasant odors and noise.

Corner units, on the other hand, are typically more coveted since they share a wall with only one other unit, providing greater privacy. Moreover, some corner units may have more space than others, which can make them even more desirable to potential tenants.

Detailed Unit Plan

Ultimately, most renters typically prefer floor plans that have well-defined partitions. Whether it's a studio or a two-bedroom unit, their lifestyles can be quite distinct. Therefore, having clear partitions in the living spaces can provide them with a sense of orderliness and privacy.

One common area where renters look for partitions is in the kitchen. Many renters prefer having a door that separates the kitchen from the rest of the unit to avoid cooking odors from permeating the living spaces. Additionally, if your condominium includes a designated balcony area, it can be utilized as a drying area to keep laundry out of the living spaces.

Conclusion

In conclusion, as a condo owner, it's important to understand the needs of potential tenants in order to ensure that your condo's selling points align with their preferences. By paying attention to factors such as location, amenities, and floor plan, you can make your condo more appealing and increase your chances of finding a great tenant. Remember, investing in your condo now can lead to long-term benefits in the form of higher rents, lower vacancy rates, and ultimately, a higher return on your investment. So, take the time to understand your tenant's needs and tailor your condo accordingly. Your efforts will pay off in the long run.

Interested in getting an excellently located condo surrounded by various amenities and get exactly what you pay for? Click the links below: