The biggest market for real estate for rent is in the metropolitan areas. People go to these urban hubs for education, employment, and career success. Most of them would want to rent instead of buying a home. But investing in real estate doesn’t necessarily mean immediate returns. It would be best if you planned your units well so that they’d cater to what these urban dwellers would need.
You should note that the metropolis espouses a lifestyle that’s always on the go. So you need to make your units convenient for the urban daily grind. Here are some examples of what these busybodies and dreamers would want their space to be.
Have lots of storage space.
Your tenants would want to have ample space to move around. They wouldn’t want to accidentally knock down their plates and kitchen utensils while cooking. Neither would they want to stumble on their bags and shoes whenever they go from one side to another.
Kitchen cabinets are a must. It’s up to them if they want to go minimalist and have a plate they would like to display when not in use. A kitchen cabinet would have some shelves for plates, saucers, bowls, serving dishes, and of course, the pots and pans. It would be good if you could also provide a built-in stand for cups and glasses, but that’s not necessary. Then add a drawer for their knives and other cutleries.
If there’s no partition for a room, you could have one wall built-in with a full cabinet the tenants could use to store their clothes and other household needs. You could also use the cabinet to make a partition. If you see those Instagram posts where people use piles of books as their tables and pile painting over each other and you think they’re artsy, understand that the spaces they have are often large. A pile of magazines won’t look like clutter but art.
Provide a flexible space.
Tenants already expect small spaces, so you need not worry about that. However, being small doesn’t mean cramped. While it would be great if you semi-furnish the room, the furniture you choose to put into could make the space crowded, so you have to have it designed well. Interior designs for small spaces employ foldable everything. Tables could be transformed into shelves, the bed could be folded away into a sofa, and even doors could double as cabinets.
Different tenants have different jobs, so they would use the space according to their needs. If you imagine one kind of tenant when you have your unit designed, you might not be able to accommodate the needs of others. For example, if you have in mind a student or a young professional who would need a study table, shelves, and study lamps, these things that might be essential to them would not be that necessary for a couple who’s working in theater. Try to trim down your furnishings to the bare essentials, and as much as possible, go for the furniture that could be hidden away.
Provide natural light.
Some people are not bothered and would not even notice if their room has or doesn’t have a window. However, it’s best to have some natural light coming into the unit.
Natural light could affect the emotions of a person. It also improves the quality of sleep. Notice how waking up to the sun shining into your room is very different from being jarred awake by the blaring of your alarm. Do a favor to your tenants by giving them ample natural light. Leave it up to them if they wish to cover it with thick drapes or board it up altogether.
All of these planning would be additional work for you as a landlord, but they would be worth it. You would be providing infrastructural support to these people who are chasing their dreams in the urban jungle.