You might not know it, but your tenant is possibly a remote worker. Or, the next tenant you rent your home to will be a remote worker who does not have to go into the office very often.
This is quickly becoming the new normal.
It might have felt like a trend when the pandemic required more people to stay home, but companies have realized that their employees are happier and even more productive when they don’t have to commute into the office. Many remote jobs stayed remote.
This is good news for the Roseville rental market.
If you can position your rental property in a way that makes it attractive to this tenant demographic, it’s good news for you, too.
Professionals from all over California are realizing that they don’t have to spend a lot of money living in more expensive markets. Roseville is more affordable than San Francisco or Los Angeles or San Diego. They also enjoy a better quality of life in communities like Roseville, and they can live where they want even while they collect their high salaries.
Our rental market has benefited from the remote work trend, and we can help you attract these tenants who are moving into areas like ours for the short and long term.
Why Is Remote Work Good News for Roseville Rental Property Owners?
This new normal works in your favor because Roseville provides a desirable quality of life.
Back in the day, nearly all workers had to live where they could find jobs. That was good for large cities, which attracted major companies and employers. Everyone who worked in tech would have to live in San Francisco or Silicon Valley. If you were in entertainment, New York or Los Angeles were the only places you would reasonably be able to live.
That’s not the case anymore. Tenants can hold onto their jobs and not necessarily live within commuting distance of their employer. This opens up a lot of doors for rental markets such as Roseville.
Roseville and the surrounding areas have a lot to offer remote workers. Tenants are still enjoying what life can provide in California, and they’re still close enough to those major cities if they want to get there in a day. But, it’s not overwhelming in terms of crowds and traffic and cost. The housing market is hot, but it doesn’t stay as inaccessible as other larger markets. There’s still a way in for people who would not be able to afford homes – or rents – elsewhere.
Increasing Rents and Growing Populations in Roseville
The remote work trend has had market-specific impacts, especially when we talk about demand.
There are a lot of reasons that rents are going up. There’s inflation, the rising price of homes on the sales market, and the general demand for rental housing.
Rents are higher now because more tenants have moved into the Roseville rental market.
More tenants are here because remote workers make up a lot of the tenants who are looking for rental homes. The population is growing in our area, and there’s no reason to think that growth will stall.
Attract Remote Workers to Your Roseville Investment Property
The remote work trend works well with the high demand for well-maintained rental properties. You’re going to want to attract tenants who are not only living at home, but working there, too. Remote tenants tend to be well-qualified and responsible. They’re self-motivated and they care about the space where they’re spending most of their time.
Here are some of the best ways to position your rental property to attract remote workers.
- Set Up Some Space
Your remote working tenants in Roseville will be looking for a dedicated work space. They’re working from home and they might be taking classes from home, too. They’ll be most attracted to homes that have an office space or a den. If you don’t have those extra rooms, consider creating some space for them. This might mean converting a formal dining room or even providing a built-in desk.
- Provide High Speed Internet
Strong internet will certainly be as important to remote workers as all the other utilities that are available in your rental property. You might leave it up to your tenants to choose their own internet providers, but be prepared to make some recommendations on which local providers offer the best packages and the strongest speeds. They’ll be doing Zoom meetings and streaming content. Internet services have to keep up.
Another way to help your property stand out in the market is by offering Wi-Fi in the rent. This doesn’t have to be forever, but if you offer it as an incentive for the first three months, you’ll get the attention of tenants who may be grateful that they don’t have to worry about establishing their own account after moving in. They’ll have the internet available and working so they can get started as soon as they pick up the keys.
- Smart Home Tech
Think beyond the internet services that are provided and implement some smart home technology at your rental property. This will attract remote workers and tenants who value ease and convenience. When you can provide a digital keypad, your tenants won’t have to worry about stepping out without keys. If you have a smart thermostat, you’re not only saving energy but also keeping the temperature comfortable inside the home while your tenants are working. Tenants want video doorbells and other security features, especially considering the amount of equipment and technology that most remote workers have to keep at home.
You’ll find that remote workers generally want all the same things that your other tenants want. Providing a good location, a well-maintained home, and flexibility when it comes to things like pets will make your property especially attractive. When you can add some extras, such as smart home tech, good internet, and a comfortable working space, you’re likely to stand out for them in the market.
The remote working surge is good for the Roseville rental market, and it can be good for your property, too. Let’s make sure you’re leveraging your space. Contact us at Action Properties.
