Blog Post

Rental Property Updates That Might Not Yield Additional Rent

Dustin Edwards • Sep 28, 2021

Some Updates Can Help Increase Property Value, But Might Not Yield Additional Rent

Rental Property Updates Might Not Add Rental Increase
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. 

If you are looking for a property management company to assist you with these updates, we invite you to call us today at (562) 888-0247 or you can check out our Free Rental Analysis 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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