Vacancy can mean a reduced income from your Long Beach rental property, but it also gives you an excellent opportunity for upgrades to remain competitive in the market. Seeing what neighboring rentals are offering can give you an insight as to what upgrades you may want to consider to stand out.
To help you with a bit of inspiration when it comes to adding something new to your rental we invite you to consider four uncommon upgrades to catch the eye of potential long term tenants.
Long Beach, CA, has fantastic weather nearly year-round. The great weather gives added value to having a pool and making a pool for your Long Beach rental an asset. Pools can be a strong reason a tenant may decide to rent your property, especially if they are socially active, enjoy hosting parties, or are athletic. Many of the costs of building a pool can be offset by your tenants, including maintenance. Though we recommend that you ensure your tenant understands this when reviewing the rental agreement.
A pool on its own is excellent, and
pool safety should be top of mind. If you build a pool, consider safety equipment and even a protective fence to mitigate accidents as much as possible. Many landlords shy away from renting properties with pools due to perceived liability, though a pool’s added benefits can make it an asset in Long Beach.
Like a pool, a hot tub can be used nearly year-round in Long Beach, CA. However, unlike a pool, much less space is required to install a hot tub. Whether installed in the yard over an appropriate amount of leveled gravel (usually around 6 inches deep) or on a deck, a hot tub can be a luxury for tenants in the market for one. Some top-rated hot tubs at The Home Depot include Aqualife’s Niagara LS or Lifesmart’s LS600DX. If the hot tub is installed with complimentary hardscape and lawn decor can add curb appeal and even increase the value of your rental property.
Much like a pool, some safety precautions and discussions about maintenance are needed to offset the cost of installing the hot tub, especially if landscaping or electrical work is required to install it properly.
While having a meal outdoors can inspire relaxation and enjoyment from your tenants, consider building an outdoor cooking area. This can be as simple as a barbeque pit to provide tenants with the ability to host gatherings and serve burgers and hotdogs. Or as complicated as a custom-built outdoor kitchen with a refrigerator and plumbing.
The most significant benefit of having an outdoor cooking space is that it can be a great entertainment area. When hosting events, guests can gather outdoors and not crowd so much inside. Cooking over an open flame is dangerous indoors, and anything smokey can leave lingering smells in the living space. Outdoor cooking reduces the amount of smoke entering the rental, reducing much of the odors as well.
In recent times, many people are beginning to work from home exclusively. Many tenants are looking for dedicated office space when looking for a home to rent. There exist many options for independent office space. A popular solution is pre-built offices you can order and install on your Long Beach rental property. Studio Sheds and Work Pods are excellent solutions as they deliver everything you need in order to install their outdoor office spaces as a do-it-yourself project or, in Studio Shed’s case, offer professional installation. Depending on your city’s building code, both options rarely require building permits outside of electrical.
For more ideas on how to get ahead of the market or for help deciding what uncommon upgrades you can install in your Long Beach rental property, we invite you to call us at (562) 888-0247 or feel free to fill out our
free rental analysis to see what your rental could yield today.
