Does having a pool help the value of my rental property?
Dustin Edwards • March 20, 2020
Understanding if a House Rental or Condo Rental with a Pool Truly Helps
Having a pool or spa at your house is a nice item to have. When most people think of a pool or spa at their property it conjures up images of Summer gatherings, BBQs and enjoying the water. For those owning single family homes in Long Beach, CA you might think of neighborhoods such as Los Altos or the Cliff May neighborhood where pools are more common. For those who own condos it could be a stunning rooftop pool or the ever practical pool in the middle of the complex. Regardless of whether the pool is in your condo development or part of your HOA’s amenities it begs the question, is this good for the value of my rental?
Single Family Homes in Long Beach with Pools
When you have a single family home for rent with a swimming pool it can be an added amenity for many renters. For example when you own a home in the Cliff May neighborhood (just north of El Dorado park) that architecture is typified by indoor/outdoor living and those who would like to rent there would nearly expect a pool and be willing to pay a monthly rental amount that would accommodate pool maintenance.
Of course not all renters would view a single family home with a pool as an added amenity. With typical lot sizes throughout Long Beach ranging in size from 5,000-6,000+ (yes there are smaller beach lots and larger lots too) a pool takes up most of a backyard and not all renters view that as a positive.
Having a pool a pool as part of your single family home rental in Long Beach really means taking the time to understand when the maintenance of the pool is included in the monthly rental fee is your home still competitive to attract renters. If the answer is yes then you will generally be in good shape to attract great tenants.
Long Beach Condo Developments with Pools
If you have a Long Beach condo for rent and the complex has a pool then this is a different scenario compared to a single family home. For many of the luxury condo buildings in Downtown Long Beach (think West Ocean Towers, the Pacific, etc.) renters are very happy to rent in these buildings because they do have a pool! In fact a pool may be one of the main reasons they focus their energies in neighborhoods such as Downtown Long Beach.
One of the unique aspects about condos is that the HOA prices in care for the pool. The fact that pool maintenance is priced in to the HOA and that, for the larger developments, there are generally other condos that have been rented means understanding the monthly rental amount for your condo is more straightforward because as we analyze the comparable rents within the building we know that they all include the amenity of a pool.
When it comes to knowing if a pool will help the value of your rental the answer truly is going to be “it depends”. Each neighborhood and property will be different and it takes a bit of analysis and understanding of the local rental trends to determine how it will impact the monthly rent that is collected. When you want to understand how the pool at your property (whether it be a single family home, condo, or multi-unit) impacts the rent we invite you to fill out our Free Rental Analysis
or call us today (562) 888-0247 and we will be happy to share more.
Share this post
Tenants comfort is very important to keep them happy and renting for long periods of time. Follow these quick ideas to help all your tenants stay cool without breaking the bank.
As Summer starts to roll around, it's important to start looking at must do items to keep your property in great shape for the incoming heat
ADUs are a great to expend your current rental property and increase unit count for rent, find out the different ways to convert existing structures into ADUs
