Blog Post

Desirable Property Features for Luxury Rentals

Dustin Edwards • Jul 20, 2023

If you are a real estate investor in Long Beach, CA, you've likely come across luxury rentals as an investment opportunity. Luxury rentals are only a tiny part of the overall rental market, and while they have a higher initial investment cost, they are often exclusive properties with the potential for a high return on investment (ROI)


Luxury comes in various avenues and isn't limited to just one thing. Aspects of luxury rentals include the neighborhood, the property's condition, the architecture, and other features. Today we’ll review a list of desirable property features your luxury rental should have to generate more passive income.


Outdoor Area

Many luxury homes often include an expansive outdoor area. In Long Beach, they’ll typically provide areas for gatherings, entertainment, and cooking. It's not uncommon to see luxury rentals with swimming pools and other water features with dedicated maintenance companies to ensure they always work in good order. Large gathering areas such as gazebos, large BBQ areas, and patio furniture essentially welcome the tenants to have get-togethers. Some luxury rentals even have pizza ovens for more variety. Landlords will provide these items in luxury rentals to warrant a higher asking price for rent.


Appliances

Many rentals nowadays include a number of appliances, such as an in-unit washer and dryer, to help the property stand out. When looking at luxury homes, you’ll often have higher-end appliance packages such as Miele, Thermador, or Thor. These often include refrigerators, stoves, dishwashers, hoods, etc. Not only will tenants at a luxury rental expect the highest quality appliances, but they’ll likely also expect every item to match in brand and aesthetic. This is why buying package deals makes the most sense.


Appliances for luxury homes don’t end in the kitchen either, and with luxury rentals, it’s recommended to provide as many appliances as possible for your tenant. This includes air conditioning, heating, televisions, built-in speakers, and other electronics.


Nuanced Touches

Alongside many amenities provided in luxury homes, there are some nuanced items to consider. These are typically items to help make things easier for the tenant and help them feel more secure. High-speed wireless internet throughout the home is usually required for any luxury rental. With it, providing smart home features in the rental is much easier. Modern smart home features allow your tenant to control many aspects of the home through their phones, such as the speaker volume, climate controls, doors, lighting, security cameras, and window blinds. This allows tenants to keep the rental to their ideal conditions while being able to access security cameras can help them feel safe if they’re ever out of town. 


An additional feature many luxury rentals provide now includes EV chargers. Recently, more and more people are going electric, providing a convenient way to charge their vehicle at home without needing to drive out to a charging station.


Pet Friendly

Many people treat pets like family and will be searching for specifically pet-friendly homes. While allowing pets in luxury rentals may seem counterintuitive, not doing so can limit the pool of potential tenants. There is always a risk to allowing pets. There are ways of vetting pets, much like there are for tenants. This can lower the risk of property damage caused by the pet though it cannot guarantee any damage. Many investors, however, believe the risk is worth the reward as many potential tenants for luxury rentals wouldn’t part ways with their “fur babies.”


A luxury property being a considerable investment shouldn't be a deterrent. Luxury rentals are an amazing investment opportunity. If you are interested in luxury rentals or need help managing your Long Beach rental properties, we invite you to call us today at (562) 888-0247 or fill out our
Owner Application online.

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By Dustin Edwards 01 May, 2024
Everyone wants to feel safe in their homes. As an investment property owner, it's up to you to decide whether or not to include security measures in your property. Many of the costs associated with the security measures can be included in the rent, meaning not only can you keep your property safe, but you can earn more income in the long run. However, you would still want your tenants to have renters insurance to protect their assets. Today, we’ll discuss the top five security measures you can add to your property and why they're beneficial to you and your tenant. Security Cameras Cameras are probably one of the first security measures people think about when asked about security. Cameras provide more benefits than just surveillance. They provide an extra level of security for the safety of the tenants and their belongings. Additionally, security cameras can be useful when repairs are required. Cameras can aid in supervising repairs and maintenance to ensure you’re receiving the agreed-upon work. During vacancies when the property is empty, security cameras can help keep the property safe from potential intruders. Doorbell cameras are incredibly popular now. They provide the aforementioned safety of a camera that can be accessed remotely, as well as the ability to communicate with visitors. Although one must be careful never to say you're not home, just say you're unavailable to strangers. Security Lights Security lights with motion detectors are another effective tool when adding security measures to your property. These lights brightly if a potential intruder attempts to get near your home. They can provide enough illumination to see the intruder or, at the very least, scare them off. Nowadays, you can find a combination of security cameras and motion-activated security lights, such as the floodlight cam wired plus from Ring . Additionally, because these lights only turn on when motion is detected, they’re more cost-effective than traditional lights with a switch. Illuminate the Property Light generally deters intruders as it's more difficult to hide. Adding lighting to the landscaping can increase the security of the property while creating a relaxing atmosphere. Lights can also be used in other areas of the property to accent features such as trees, benches, or artwork. This can help your property stand out while giving your tenants an additional feeling of safety. Keyless Entry Keyless entry is seen as both a convenience feature and a security feature. They usually use an electronic passcode, biometric data, or grant access through a smartphone app. Physical keys can be lost, stolen, or duplicated. You reduce the risk of unauthorized entry by eliminating the need for a physical key to enter the property. Many keyless entry systems include several features, such as remote locking and monitoring. Although keyless entry is a great new technology for keeping your tenants and properties safe, they’re best used with other security systems. Security Company Nothing beats having an extra pair of eyes on your property for security. This is where security companies like ADT and SimpliSafe come in. While companies may deal with security in varying ways, they aim to protect your investment. While safety is the primary role of a security company, remember that many tenants may be willing to pay more for a premium amenity like a home security company. Keeping your property and tenants safe is incredibly important to the longevity of an investment property. If you’re looking to improve the security of your Long Beach rental property or need help managing your beach city rental property, we invite you to call us today at (562) 888-0247 or fill out our Owner Application online .
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