More buyers and homeowners are looking to their homes as a source of income. Make sure to highlight features that make a listing rentable.
In the quest to find additional streams of income, more and more homeowners want to be able to rent part of their primary residence. Just how common is it, and what are some ways to showcase rentability in a listing?
Buyers Are Looking For Rentability
According to an article recently published by NAR, over 30% of homeowners are or have rented out space or features (like a pool) of their home. This takes the shape of both long-term renters and shorter agreements through companies such as Airbnb. When surveyed, almost 70% of people who recently purchased a home said that they would rent out part of their home if they did not have to share amenities (private entrance, kitchen, bathroom, etc.).
The above data shows that the new generation of homebuyers, who now make up the majority of purchasers in the market, could be swayed by the ability of a home to be rented, but how do sellers clearly demonstrate that ability?
How To Demonstrate That A Listing Has Rental Potential
A detailed listing description outlining features that would make the home convenient to rent for owners and in demand to renters is important. Along with that information, though, should be a number of high-quality photos and supporting media like a walkthrough video or a Matterport.
Using these tools in conjunction with each other can demonstrate to buyers not only that a home has rentable features, but how they would be able to live in the home while partially renting it. Allowing buyers to get a clear idea of what the arrangement could look like could prove to be a huge asset in driving additional buyer traffic to the listing.
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