Feature 1: A Large Balcony



The number one feature that my wife and I looked for when we were choosing a Unit to rent was the size of the balcony. Many older style units built in the 60's and 70's have incredibly small balconies. In many cases the balconies can only hold a single chair and a small coffee table.

In talking with a number of tenants, we found that the majority of tenants told us that they would pay more for a unit with a larger balcony than one with a smaller balcony. For example, our unit we are renting has an outdoor balcony area of 25 sq m which means that much of our life is spent outside during the summer. As we are located in tropical North Queensland, we tend to use our deck as much during summer as during the winter. One of the other key features that we looked at was whether the balcony was in fact covered. This has also influenced when we use the balcony.

If you spend time looking at units without balconies you will notice that the quality of their outdoor settings go off in a short period in time. We chose a unit which had a covered balcony so that our outdoor settings would last, especially since the deck setting is timber. The other core reason, we chose a unit with a covered balcony is that it is much easier to warm during winter than an open air balcony.

Feature 2: An Internal Laundry

I cannot believe in the Year 2007, there are still developers around the world who do not provide brand new units with an Internal Laundry. I recently travelled overseas and found that one of the brand new units we were renting for a period actually did not include an Internal Laundry, you still had to go to a common laundry that you had to pay between $5 AUD and $10 AUD per load.

I have seen a number of really well structured laundries that do not take up a lot of space. The unit we are currently in actually has the laundry built into a cupboard. Essentially the laundry comes with a small dryer, front loader washing machine and sink. For a couple such as my wife and I this is sufficient. The downside I have found to this style of internal laundry is that you have to make sure that there is physical space for your existing washing machine, if you have to supply your own. When we moved into the unit we found that our top loaded washing machine was to big for the space provided and we actually had to give away our old machine which was only 2 years old.

Feature 3: Lots of Cupboard Space

I reckon one of the best units is those with lots and lots of cupboard space. Most people when designing their own homes or units do not invest in enough built-in cupboard space. Built-ins are a must in any high rise, multi-story units or town houses. Many tenants avoid units or town houses that are multi-story with out built-in cupboards simply because it is to difficult to get them up and down the the stairs plus many removalist companies charge more for going up the stairs.

Feature 4: Two Bathrooms

It does not matter whether you are building a house or a unit, any property with two bathrooms is a must. Having lived with my wife for 5 years now, having two bathrooms is a God send. It means that regardless of whether either of you are running late you can both get ready at the same time. The other advantage is that if you have friends or family visit, having a second bathroom means that you are not all going to be lined up waiting to get ready.

One of the issues developers and people looking to buy Investment units need to be careful of is not making the bathrooms to small. One of our bathrooms in our latest unit is so small, that when you are on the toilet, you cannot close the door properly or if you do and something happens, your partner will not be able to easily access the bathroom. As they say, size counts!

Feature 5: A Great View

The last feature that I believe is the most important feature of any unit is the view. A great view will always surpass any other feature. Nobody wants to come home to a brick wall out of their window every day like I have seen in some apartment blocks. A great view though does not always mean that we are talking sea views or city views. My wife and I recently found a unit in which its views were not magnificent, like overlooking the ocean or a beautiful rolling hill scene; in fact the views from the balcony were of a simple garden area that was well manicured. The interesting part about these units was that they were all rented out in only two weeks.

If you are thinking about buying a unit for an investment purpose, these five basic features will certainly affect whether the tenants will want to rent your property. The bottom line is this, the more attractive your unit is, the more likely a tenant will rent or lease your property.