Typically, landlords invest in property updates to increase the rent for their Long Beach rental. However, there are many other benefits to updating your property, such as adding curb appeal and intriguing potential tenants. Even if they do not increase your rent, the following additions can make your property stand out amongst competitors.
New Windows
Installing the latest Energy Star qualified windows is a wonderful investment for your Long Beach rental. Not only can they boost the look of your property, but their superior sealing and insulation can also lower energy bills. Though tenants pay the electric bill, this discounted price will act as an added incentive for potential tenants looking at your property. In fact, Energy Star
estimates
that their single-pane windows save Southern Californians an average of $319 (or 31%) annually on heating and cooling costs. Similarly, they estimate that their double-pane windows save Southern Californians an average of $108 (or 14%) annually.
Energy Star is the government-supported leader in testing and certifying energy-efficient products to reduce energy bills and greenhouse gas emissions. As such, their catalog is the best place to find your Long Beach rental’s next windows.
Front Door
A charming and tasteful front door can act as an inviting precursor for tenants taking their first step into your
Long Beach rental. Although it will not yield a rent increase, a new front door can certainly raise curb appeal. Furthermore, some tenants highly value having a pristine entrance for guests, and a lovely front door can provide that for them.
Home Depot offers a variety of front door options, including steel, wood, and fiberglass, and has a
Door Finder
questionnaire to discover the perfect choice for your property.
Paver Stone Driveway
Similar to an artful front door, a paver stone driveway has excellent curb appeal and makes a fantastic first impression on potential tenants. It can pique their interest, even get them to schedule an appointment to view the property but it is unlikely to provide the yield on rent that you would expect. Driveways are considered more of "functional" items and a paver stone driveway is a nice upgrade to an aspect that most renters feel should be functional anyway and as a result aren't likely to pay a premium on their rent for it.
If you are still interested in installing a paver stone driveway, we do want to caution that it is an extensive project best done by professionals, such as a local landscaping company.
Insulation
Many properties in the Long Beach and Lakewood area do not have ceiling insulation as the era that they were developed in did not require it. Insulation can help better regulate your rental’s temperature, thereby lower your tenants’ need for heating and air, which takes some of the pressure off your HVAC system and can improve its longevity. Additionally, the decreased use of heating and air will inevitably reduce your tenants’ electric bill.
Thus, installing ceiling insulation can be a beneficial investment for both you and your tenants.
Home Depot has many types of ceiling insulation and also offers free in-home consultations where they can discuss your tenants’ monthly energy costs and give you a quote for the installation. There are plenty of benefits to professional ceiling insulation, such as saving you time and money spent on renting out equipment and safety supplies.
While they may not be the first property updates that come to mind, the above additions have the potential to make your Long Beach rental unique and distinct. For potential tenants, these improvements can be the deciding factor that makes them choose your rental over another one.
