You own a high end, luxury property and have decided that instead of selling it you want to rent it to luxury tenants. Before you list it with a Realtor or property management company you should know what those tenants expect and are looking for in a rental property.
Expensive, high end finishes
One thing that is in high demand with luxury tenants are expensive, high end finishes for floors, walls and ceilings. Things like “raw stone” on walls, glass walls, imported wood or tile paneling. Cabinetry isn’t just custom, but built in with expensive millwork.
That goes for large multi purpose rooms as well. Instead of going for a completely unified look, high end renters want a similar palette but a definite difference in character for each space. The space should have flow, but make it obvious that there are different uses for parts of the space.
Other amenities that are in demand
Things like deluxe personal at-home spa room, custom wine cellar with tasting room, full outdoor kitchen that includes things like a wood fire oven for cooking pizza, and a feature called a “wet room”. A wet room is a room, or in some cases, part of an existing bathroom, that is well-ventilated with several kings of showerheads, a steam feature, and a bench to sit or lie on. Some have LED lights, which are used for various effects. It gives you the sensation of immersing yourself in water without waiting for a large tub or spa to fill.
Let’s not forget energy-efficient features
Renters want environmentally friendly options including solar panels and geothermal heating and cooling systems. Not for the energy savings for their own pocketbooks, but because it’s all the rage. Also installing a fully-wired smart system connecting your devices, electronics and security — all controllable from your iPhone or iPad or Android device. Being able to control the whole home from one spot is expected. Using eco-friendly materials in building is also a must have. Expensive and imported should also be eco friendly.
So, now go and figure out what you need to do to update your home to attract the high end tenants you want… and income you want as well!