May 28, 2024

Property Management Tips, RYPM Resources

RYPM

Understanding tenant preferences will make the difference between property owners and managers competing in the rental market, especially in a growing community like Courtice, Ontario.

Here at Royal York Property Management, we keep our fingers on the pulse of exactly what tenants are looking for in 2024. By aligning rental properties with these preferences, landlords can attract high-quality tenants and maintain high occupancy rates.
Royal York Property Management is one of the behemoths in the Ontario property management business.

Being recognized as the best property management company in Ontario for six consecutive years, it manages in excess of $10.1 billion in assets and has leased and managed well over 22,000 properties. This blog will discuss what constitutes the most sought-after rental amenities in Courtice today.

What does the current rental market look like?  

Courtice's rental market is growing strongly with its closeness to major urban centers like Toronto and attractiveness as a family-friendly community. It offers a balance of suburban quietude and urban convenience, making it attractive to a wide variety of demographics. Know what the tenants need and prefer in this ever-changing market to stand out as a landlord. Going further, we’ll break down this in-depth blog into top amenities—indoors, outdoors, health and wellness, community, and social—tenants really want today in Courtice or across Canada.

1. Top Indoor Amenities 

Modern Kitchens and Appliances 
  

Today's tenants place great emphasis on functionality and style in their living space, and the kitchen is no exception. Modern kitchens equipped with energy-saving appliances like refrigerators, dishwashers, and ovens made of stainless steel—all are extremely popular among tenants in 2024 in Courtice, Ontario, Canada. Moreover, features like granite countertops and modern cabinetry in the kitchen not only increase the aesthetic look but also add functionality and longevity to the kitchen space.

In-Unit Laundry Facilities
  

Convenience matters. Tenants want their own laundry facilities in their rented units. In 2024, a trend tilts toward stackable washer/dryer combinations. Such space-saving machines let tenants do their laundry without ever leaving their apartments. Property owners should invest in up-to-date laundry appliances and market this as a major selling point.

Smart Home Technology
  

Smart home technology has become a standard expectation for many tenants in Courtice, Ontario. Features like smart thermostats, smart locks, and smart lighting systems—operated via smartphone apps—hold great appeal. These technologies add convenience and can conserve utility costs, therefore benefiting both the tenant and the landlord. Such features are a must-have in 2024 to try and meet the ever-changing Courtice resident's preferences.

Spacious Layouts and Storage Solutions
 

In Courtice, space will be at a premium in rental properties. Most tenants would, however, place great importance on space layouts that afford flexibility, comfort, and ample storage options in the form of built-in wardrobes, pantry space, and storage units. This keeps the living areas tidy and clutter-free, adding great value to the living experience.

2. Top Outdoor Amenities
 

Private Balconies or Patios 

Private outdoor living space is increasingly what tenants are looking for in Courtice. Private balconies and patios provide a personal retreat for relaxation and entertainment in a setting that is especially appreciated in the urban environment, where private outdoor areas are limited.

Green Spaces and Community Gardens
  

Green spaces and community gardens remain a major attraction for Courtice tenants. They afford tenants areas for rest, recreation, and interaction with the community. Properties that include or are near parks, walking trails, and community gardens are in high demand from residents.

Parking and Security 
  

On-site, secure parking options and protection from criminal activities are paramount to any tenant. Covered parking, visitor parking, and security patrols are expected. During 2024, advanced security would include the smart security features of keyless entry and 24/7 video surveillance. Property managers will find that safety should be paramount and should clearly outline security protocols for tenants.

3. Health and Wellness Amenities
  

Fitness Centers and Yoga Studios
  

Health and wellness are priorities. Access to fitness centers and outdoor areas is highly in demand. Courtice properties with on-site gyms or partnerships with local studios see great demand. Tenants also love a well-maintained courtyard or walking trails in the community that they could use to unwind or get some movement in.

Swimming Pools and Spas
  

Amenities such as swimming pools, hot tubs, and saunas offer relaxation and enjoyment to tenants in Courtice. These amenities add a touch of luxury to rental houses and may influence prospective tenants looking for something a bit more high-scale.

Pet-Friendly Features
  

Courtice residents love their furry companions, so being pet-friendly is a big draw. In 2024, pet policies are getting much more lenient; many properties will allow both cats and dogs. Not to mention pet stations with waste bags and a disposal bin. Also, proximity to dog parks, such as Bark Haven Park, may affect pet owners' choice of a rental property.

4. Community and Social Amenities
 

Co-Working Spaces and Business Centers  

In Courtice, access to co-working and business centers within the rentals is a big advantage, as remote work continues to be part of the new normal. These spaces provide an environment for work and meetings that is professional, catering to the needs of remote workers and entrepreneurs.

Recreational and Entertainment Areas
  

Other communal spaces are game rooms, movie theaters, and lounges. These spaces promote interaction among the tenants, therefore developing a sense of community; such features in Courtice rental properties are highly sought.

Community Events and Social Activities
 

Building a sense of community enhances the experience of the tenant. Shared spaces, such as lounges, game rooms, and rooftop terraces, create areas for tenants to come together. Property management companies are organizing wine tastings, yoga classes, and movie nights in 2024 to get their tenants to participate in the community. These are initiatives that will contribute to tenant satisfaction and retention.

5. Safety and Security Features  

24/7 Security and Surveillance
  

These then include round-the-clock security and surveillance systems for tenant peace of mind. Properties with these features are more attractive, with a secure living environment being one of the elements that adds to the appeal.

Gated Access and Secure Entrances
  

There are also gated access and secure building entrances. All these features are more or less important to people looking for tenancy at Courtice Place. It is because people are sensitive to issues regarding safety and privacy.

Emergency Maintenance Services
  

The great advantage is the availability of prompt and reliable emergency maintenance services. Courtice tenants appreciate the fact that issues will be resolved on time and in a professional way, increasing general satisfaction with the property.

6. Sustainable and Eco-Friendly Amenities 
  

Energy-Efficient Appliances and Systems
  

Energy-efficient appliances and HVAC systems are in high demand for their environmental value and cost savings. Increasingly, Courtice tenants are searching for properties that minimize their carbon footprint and lower their utility bills.

Recycling and Composting Programs
  

On-site recycling and composting programs are attractive features for the environmentally conscious tenant in Courtice. By providing these options, a rental property can be more attractive and show a commitment to sustainability.

Electric Vehicle Charging Stations
  

With the increase in electric vehicles, the demand for EV charging stations is also on the rise. It attracts Courtice tenants who own or are seeking to buy an electric vehicle.

7. Technology and Connectivity
  

High-Speed Internet and Wi-Fi
  

Reliable internet access is the bottom line in today's digital world. Tenants demand seamless connectivity for work, entertainment, and communication. Demand for high-speed internet is increasing, and Courtice finds that FiberNet and ConnectX are some of the providers offering highly competitive packages. Property managers should ensure the wiring of their buildings for high-speed internet and, where appropriate, partner with these providers to offer exclusive deals to tenants.

Cable and Streaming Service Packages
  

The ability to offer bundled packages with a cable and streaming service is a large benefit to tenants. Such packages offer convenience and value, making rental properties more attractive in Courtice.

We see further demand for intelligent home technologies, features of sustainable living, and amenities that promote healthy living. Being aware of these trends will be important for landlords and property managers in the future.

Tenants in Courtice are looking for modern, convenient, and sustainable amenities in 2024. Landlords who understand and incorporate these preferences into their properties can attract higher-quality tenants.

For more information on Royal York Property Management and our services, visit:
royalyorkpropertymanagement.ca