How much is a view worth?

Question

I have a rental townhome that I'm trying to determine the rent for.

There's a comp in the same complex that's the exact same model so everything is more or less the same except I have views from my rental and that rental doesn't.

With these views, how much more should I be asking for in rent compared to that comp?

Or, does the view really not add anything in rent but just makes it easier to rent sooner?

Those are the best views of the ocean on the upper deck and lower deck. The view from the kitchen looks better in person, although the layout of the kitchen doesn't really optimize that view.

And, in the rest of the rooms, there are ocean views but they are peek-a-boo views where you have to be in the right spot to see it:

Colleen F. · Answer

A view will get you a rental sooner or make people decide in your direction but it is location they pay for.

We have a rental a block from the beach with a nice ocean view from the hill and it is always the selling point for the rental. The students and parents spend more time out on that deck then the entire rest of the house. That being said it doesn't do really get us more money, they still have to live in the space that is in the house and that is what they are renting.  It might however in a condo get you a bit better rental amount all things being equal but I can 't see it being a lot.  When did the comp rentals rent?  That might also have influenced the price, also remember listings aren't leased they are listed at that price, so if the above are just listings see how long they stay listed for that price.

Bill Gulley

I certainly related to your purchase story. When we looked at our current lakefront home my husband just stood at the edge of the pond studying the fish and was ready to make an offer... this after I nixed the lakeview house he wanted to make an offer on with no bedrooms for the kids.... those views can be distracting.

Josh L. · Answer

The biggest reason I was reluctant to bring in a pro to take the pictures was that the city's been threatening to build a new park for several years and how that would change what the pictures of what the view would look like.

All that dirt is the construction work the city's doing for the park.

I wanted to know how much a view is worth

1) to help get a better idea what the value of my rent was

2) to have this information so I could approach the city about this park and how that might diminish the value of my unit.  Yet, it sounds like I should be looking at units for sale, and not units for rent.

But, that probably should be the subject of another thread.

Bill Gulley · Answer

I'm telling you what you don't want to hear, know, right  now that is the view and it's not great, guessing too that it's dusty too. I would get the  city on the ball

BP not responding....

Lower pics R nice

Elizabeth Colegrove · Answer

I paid my photographer $100 to take the pictures Honestly you can get an and coming amateur to do your pictures. . Honesly if you are going to charge more for "views" you need to make them stunning. So even if you have to retake them again, if you can get another $100-$200 a month, I think your pictures will pay off quickly.

Personally from your "picture" the view isn't all that good. That one that is charging for the view has amazing photography.

Joel Owens · Answer

Yep if you have a ground unit and the park is being slammed in right in your front yard that can be a negative blocking the view. On the other hand a family might like being right next to the park. Just like all buyers what one likes another can't stand.

On your pics you can add an overlay on the pics that says " Content/views deemed reliable but not guaranteed and views subject to change " or other wording. You can use mice type so it's really small in a corner of the pic.

No legal advice.

Josh L. · Answer

I know my picture and the comp view aren't good pictures; the view looks much better in person.

My pictures are more than ten years old taken with a basic point and click digital camera. Back then, just having pictures was a step up on craigslist.  I know I need a better camera and I've been thinking about buying a used DLSR camera.

My place is located half a mile from the beach, albeit on the other side of PCH. But, from what people are saying here, it looks to them  like its several miles away from the beach in the pictures.

Here's some better pics from a unit that's for sale with the spectacular ocean views and that's actually not as close to the ocean as my unit. Again, they would look better in person:

I've always thought about bringing in a professional to take the photos, but my issue is that the pictures wouldn't show any updates/improvements such as wood floors that would be done after those pictures were taken and thus I couldn't keep re-using the same pics.

Matt R. · Answer

When I rented a place across the street from the beach the ocean views were about $200 more. The views were elevated and unobstructed. This view would be less but that was 20 years ago so maybe adjusted the same $200 in this case.

thanks,

Matt

Sam B. · Answer

@Josh L. Make sure you maximize your view when marketing...a few bucks for a professional photographer to come in, especially at the right time (early sunset, the less attractive view of dirt/etc will be darker and overshadowed by the sun going down on the Pacific) will go a LONG way.

Joel Owens · Answer

I think being on the ground level could detract from rents versus up higher. You get all the foot traffic and noise that is unwanted.

If the complex only has stairs instead of an elevator then being on the ground floor could be a plus. What you have is a "peek-a-boo" view as they call it. You can see some remnant or slice of the ocean. Better than nothing at all but will not make people jump up and down for it. Also depending on the weather there if it's clear a lot you can see it better than with constant fog etc. That dirt in front is anything going to be built that obstructs the peek-a-boo view??

You have to test the market. Might get maybe another 100 bucks or so if your lucky but it doesn't compare to a full on view.

Aly W. · Answer

I have to agree, that's a spectacular view of a dirt lot with a dark blue smudge in the distance. My feeling is to rent it sooner for less. If you can see, hear, or smell the ocean, that might be worth a slight premium, but that far away....

How much is a view worth?

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