What Renters Are Looking for in a San Mateo Property Post-Pandemic

Rental Housing in a Post-Pandemic World

There has been a significant drop in the number of people living in rental spaces over the last year, as they could not afford to pay their rent and had to leave to find affordable accommodation.

The resulting imbalance in the rental property market, as the number of properties was higher than the number of tenants meant that property owners in cities like LA, San Francisco, or San Mateo have had to struggle a lot to find a tenant who is willing to rent their property.

Since property owners have to pay their bank mortgage, it becomes essential for them to get their property occupied and generate income. If you are a property owner in San Mateo, here are some things that renters are looking for, in a post-pandemic world.

Concessions and Affordable Housing

The financial instability due to the pandemic has left tenants wanting affordable housing or concessions on existing rents. As a landlord, you will need to accept the circumstances and try to find a way around them.

At present, earning slightly less is better than keeping your property vacant for months. You can talk to your existing tenant and work out a mutually-agreeable solution.
Grant them extra time to meet their pending rent or charge them partial rent and take the remainder after the situation gets better. Offer flexible 6-month leases, pets at no extra charge, or free parking spaces.

The tenants will appreciate this kind gesture as it relieves some of their immediate financial burden. At the same time, you get at least partial rent now and can expect total rent at the end of their lease.

If your property is vacant at the moment, you can even consider reducing the rent to attract a broader set of potential tenants.

Amenities and Perks for a Work-from-home Generation

The pandemic has created a work-from home culture that is here to stay. As more and more people work from their homes, future tenants will expect all essential amenities to be functioning properly, with some additional perks, if possible.

If your budget allows it, now can be a great time to make aesthetic changes to your place. A fresh coat of paint or new carpets can enhance the look of your property, which in turn can attract better tenants and give you an edge over competitors.

Since the pandemic has restricted outdoor movements, tenants will be spending most of their time indoors. This means they will certainly enjoy extra amenities in their apartment. You can upgrade utilities like ovens, dishwashers, washing machines and dryers, and install a better security system to make your property more appealing than your competitors.

Since most of the tenants will be working from home, they would be looking for an office that isolates them from the noise that their kids may make during the day. Incorporating a small office/workstation can go a long way in renting your San Mateo property.

Social Distancing for the Long-term

If you are the owner of a multi-family property in San Mateo, you may want to focus on upgrading the common areas of the property, such as elevators, lobbies, entryways, and so on.

Since social distancing has become an integral part of our lives, tenants would value efforts made to adhere to the rules. You can address potential health concerns in advance by placing a hands-free sanitizer dispenser or implementing periodic sanitization of common areas.

These precautionary steps will assure tenants that it is safe to live in the property. If possible, you can even provide each home separate access to entrance/exit, limiting the people in the common areas.

In the post-pandemic scenario, property owners need to focus on providing spacious, sanitized, safe homes to their tenants, which combine personal and professional living spaces. Bayside Management is a renowned property management company in San Mateo that helps you handle your San Mateo rental with ease and efficiency.

Founded in 1982 in Marin County, Bayside Management has expanded to offer full-service San Mateo property management to the entire San Francisco Peninsula. We manage single-family properties, multi-unit complexes, commercial properties, and homeowner associations. Contact us for any San Mateo property management needs.