Blog Post

What to Expect in a Property Rental Analysis

Dustin Edwards • Apr 23, 2021

An Analysis of Your Long Beach Rental Can Help You to Maximize Your Investment

Property Rental Analysis
The age of information. Information at your fingertips. It seems easier and easier to get the answer. When you find an answer have you wondered about the quality? Have you asked if it's the right answer for you? Your situation? Is it the best answer for your property?  

You can input your property address in a website to see what if your Long Beach rental income is inline with market rents, but is it right?

Properties Compared by Size and Configuration
The most common comparable that is used by both human analysis and algorithms is that of size (i.e. square ft) and configuration (i.e. number of bedrooms and bathrooms). This is the initial baseline with which by nearly all properties are compared whether for sale or for rent. Quite often we will even normalize the square footage to determine a rental value per sq ft to help us account for properties that are similar in configuration but may be different in square footage (for example both are 3 bedrooms/2 bathrooms but one is 30 sq ft larger).  

Starting with these basic metrics is where many people will stop; however, we challenge you to explore in greater detail on how your property could be evaluated to help you maximize your rental investment.

Adjustments Based on Unique Differences
There are items that can add value to a property that might not be calculated into the algorithmic approach. Property aspects such as recent upgrades (i.e. kitchen/bathroom) or location on a given street (corner vs. interior street) can have a dramatic impact on the monthly yield of your rent. As you consider interviewing, property management companies offer up the unique aspects of your property to help the prospective property manager give you a full picture on what your property could yield in rent.

Adjustments Finely Tuned for Your Neighborhood
This is one that is particularly challenging for today’s algorithms to handle. I requested that my marketing team research compare rental analysis reports from other companies to ensure we remained competitive.  

In one example (I won’t share the company) they compared a property in the 90808 vs. the 90815. While these two zip codes are certainly close in proximity we know, as those local to Long Beach, that they are very distinct neighborhoods within each of those zip codes. Long Beach is incredibly unique, where the difference of one street east or west could mean more than $100 per month in rent and comparing by distance (which most algorithms do) isn’t going to help you get the most for rent out of your Long Beach investment property.


Recommendations Based on Days on Market
When a property is priced right, whether that be for rent or for sale, it won’t last long on the market.  

As you evaluate different property analysis reports take a look at the days on market with the comparable rents. Even if you own your property outright each day is costing you money (i.e. insurance, property taxes, etc.) which means the longer you stay on the market the more you are losing.  

You don’t want to leave money on the table by overpricing your property! Overpricing can be a mistake that can stick with you for months.  

Take time to ask your prospective property management company how you can position for a maximum yield on rental income while minimizing the days on market.

If you’d like guidance on if a rental property is fairly priced we invite you to call us today at (562) 888-0247 as we’d be happy to help. When you want a quick check to see how much your property could fetch in rent we invite you to fill out our Free Rental Analysis where we perform a comprehensive comparison to share your rental stacks up to the competition.

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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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