How a Driveway Can Help Your Long Beach and Lakewood Rental
Dustin Edwards • July 24, 2020
A Few Driveway Details Can Help your Long Beach Rental Stand Out
When you first evaluate rental property it is unlikely that the driveway is at the top of your list. After all a driveway is just where your tenants park their cars, why is it such a big deal? While it might not be a “big deal” to you, consider the following:
- If there isn’t a driveway it could result in lower rent
- If your driveway is cracked it could result in poor drainage or cause damage to a tenants vehicle.
- If a driveway is done well it can make it easy to get trash cans to the street on a weekly basis and keep a tenant happy.
- If a driveway is larger it could accommodate more cars allowing you to possibly enjoy an increase in rent.
- If a driveway offers curb appeal it could inspire tenants to stay longer
While none of these are absolute, the one absolute that remains true is that a driveway is a home feature that is used nearly daily. To help you maximize your rental for rental value and even long term value (i.e. when it comes time to sell) we invite you to consider the following aspects when it comes to your driveway.
Concrete Driveway for Your Rental
Concrete is the most widely used material in driveways throughout Long Beach and Lakewood. It is durable, has a long lifespan, and is cost effective (~$6 a ft). With a concrete driveway a key aspect is to have rebar used as part of the process. Without rebar the weight of cars will result in premature premature cracking.
Pavers for Your Rental
Pavers provide some of the most visually engaging driveways as you can have different design patterns that even enhance the curb appeal of the home. You will find these done in select homes throughout both Lakewood and Long Beach. Driveways using pavers aren’t as common due to the cost which can range from $10 per sq ft for brick pavers, $40 per sq ft for concrete pavers and $70 per sq ft for cobblestones. With the more expensive options consider the aspect that the tax code does support you investing in your rental through depreciation. When you want that cobblestone option for your rental consider asking both your CPA for advice on the expense as well as a property management company
to share their thoughts on the impact to future value and impact to the monthly rent.
Incorporating Details with the Driveway for Your Rental
When you are looking to replace your driveway you have the opportunity to invest in a few details that can help your Long Beach rental out for the long haul. Consider a few of the following options:
- Drainage - With any driveway there is a requirement for it to slope towards the street to support drainage. In some scenarios you might need more drainage support. You might want to enhance the look. Consider designer trench grates to get the benefit of drainage and a style that offers curb appeal.
- Lighting - One of the finer architectural elements that can be seen at night is that of well done outdoor lighting. Consider incorporating outdoor lighting as part of your driveway feature that makes it inviting to pull one’s car up at night.
- Plants or Hardscape - To go along with the lighting you could also incorporate small shrubbery, grass, or even rocks as part of your driveway design.
- Design Element - You don’t have to go with pavers to maximize the design impact. With concrete you could cut “ribbons” of used brick into your design on the edges or in horizontal sections to provide a touch of design that is still structurally sound.
When it comes to understanding what could be done with the driveway for your rental there generally isn’t a wrong answer. A new driveway is a new opportunity to enhance your asset. When you want to understand how the driveway will impact your rental 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.
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As California becomes more and more electric, the idea of installing solar panels becomes more enticing for many landlords. While the initial investment may be quite expensive, there are a few things to consider before making the decision. By keeping these factors in mind, you can greatly reduce the overall cost of installation as well as reduce your operational costs throughout the lifespan of the solar panels. Below, we’ve compiled three considerations you should keep in mind before making your decision to install solar panels on your rental property. Long Term Ownership For landlords whose plan is to own their rental property for a long period of time, a solar energy system can be a strategic investment with long-term benefits. The longer you own a solar panel system, the lower the operational costs can be for your rental property. Unlike a homeowner, who sees their return through their energy bill. A landlord sees their return through lower vacancy rates and higher lease renewals. The initial expense associated with installing solar panels can be offset over time through reduced energy costs, improved property efficiency, and adjusting your property’s rent accordingly. Tenants are quite receptive to features that lower recurring expenses, such as their electricity bill. With so many people working from home, a lower energy bill can result in an improvement in tenant satisfaction , as well as reduced vacancy and turnover rates. The use of solar panels fits well in a long-term investment strategy that focuses on keeping operational costs low and reliable while improving your rental property’s value . Stand Out From the Competition In a competitive rental market, such as in Long Beach, CA. Features such as solar panels can help your property stand out to prospective tenants. Features such as solar panels can increase a rental property’s attractiveness to many tenants, though, specifically environmentally conscious individuals and younger tenants tend to gravitate towards rentals with solar panels more. Properties that are energy efficient appeal to renters who prioritize lower utility bills and more sustainable living conditions. These features may influence a prospective tenant’s decision when choosing between rentals of similar characteristics and space. Additionally, tenants who are interested in sustainability often care for the rental and follow the rules better than others. They are also more likely to opt into lease renewals. This means that solar panels can improve your bottom line through a more consistent monthly rental income due to the reduced vacancy and turnover rates. Your Roof is in Good Shape It goes without saying that your roof needs to be in a structurally sound condition in order to install solar panels. In general, a roof is expected to have a lifespan of twenty to twenty-five years, If your roof still has over fifteen years of proper functionality, it's ideal for installing solar panels without requiring additional costs for repair. If your roof is in good condition and won't require repairs in the foreseeable future, you’re far less likely to face problems that would require you to remove the solar panels temporarily. This can be expensive, which is why it's important you don't properly inspect your roof before making the decision to install solar panels. Installing a solar system on your rental property offers measurable benefits to your bottom line in reducing your vacancies and turnover rates, as well as keeping your rental property competitive in the market. If you’re unsure if your roof is structurally sound to install solar panels or you need help managing your Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our Owner Application online .
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Your property’s roof is its first line of defense from the sun, rain, and wind. Which means it will eventually wear out. Many landlords overlook this since a roof is generally designed to last twenty or so years, and they simply forget until the signs begin to show. Below, we’ve compiled a short list of five signs it’s time to replace your roof for when doing property inspections. Tenant Complaints When your roof has become damaged, your tenants will likely be the first to notice. When tenants report water stains on the walls and ceilings, it's a sign that you should inspect your roof. In severe cases, your tenant may notice water dripping from roof leaks. This moisture, if left unchecked, can lead to the growth of mold and mildew, which can be a health concern for your tenants. Some tenants simply move out, assuming the odors or recurring respiratory issues are caused by the rental and not just the roof. This leaves you with a vacancy to manage, and if you’re unable to find the leak during this period, the following tenant may have a negative experience as well. Many landlords have found it beneficial to have property inspections regularly in order to preserve both the property’s value and the tenant’s trust. Roof’s Age Even with the highest quality materials, a roof still has a shelf life. Most roofs in Long Beach, CA, use asphalt shingles, and these generally last around twenty to twenty-five years. Once they've passed this threshold, the faults begin to show themselves. A sagging roof line is a sign that your roof is due to be replaced, as it's a serious concern. It often indicates that moisture has entered the underlying decking and caused some structural damage. From ground level, you may not be able to notice these problems. However, during an inspection of the property, an experienced inspector should be able to notice soft spots or contours on the roof. These forms of damage often get worse over time. Coordinating these inspections and preventative maintenance can be difficult for landlords with an extensive portfolio, which is why many enlist help. Shingle Damage Damaged shingles are one of the most obvious signs that your roof is deteriorating. If you ever notice cracking, curling, or patches with missing shingles, the roof is no longer providing adequate protection to your property. Although you can buy time with spot repairs, if the entire roof shows signs of damage, it’s likely time to replace the roof. Aside from protecting your property, the roof affects your property’s curb appeal. A patchy and worn-out roof can drive down the rental appeal. Prospective tenants will easily be able to spot the differences between pictures taken in the listing when compared to the property in person. This can not only hurt your chances of filling a vacancy, but it can also hurt your reputation as a landlord. Granules in Gutters After heavy rainfall, it's a good idea to inspect your rain gutters. If you or your property manager notice large amounts of black or gray granules, it means your roof shingles are breaking down. These granules are critical for shedding water off the roof. Once the granules fall off the shingle, the shingle begins to degrade faster under the sun and elements. If you’re not sure how old your roof may be, Loss of granules can be a strong indicator that your roof is nearing the end of its lifespan. Regular gutter cleaning and roof inspections can help catch these problems early before they become expensive repairs . Increase in Utility Bills Your tenants complaining about their utility bills increasing or poor temperature control in the rental may not realize the roof is to blame. A failing roof can result in subpar insulation and ventilation. This can lead to higher heating and cooling bills for your tenant. This can be frustrating for your tenants while putting more strain on the HVAC system. This puts more wear and tear on your HVAC system. Being aware of the warning signs and being proactive can protect your rental property, maintain tenant satisfaction , and avoid emergency repairs. If you need help inspecting your roof or you need help managing your Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our Owner Application online .
