Lake Arrowhead Lakefront Properties:Dock yay or nay?

Question

Hi Everyone!!

I'm new to the forum and a fairly new investor.  My husband and I just purchased a lakefront property in Lake Arrowhead (3/2 with a loft).  My goal is to airbnb it once it has been fully rehabbed.   My question though is regarding docks for those of you that own in Arrowhead.   Do feel that a dock is necessary to attach to the rental?  Pros? Cons?

Thank you in advance.

Amanda

Amanda Alvarado · Answer

Wow!!!! Such great advice.  You are completely right.

Thanks so much!  I really appreciate it.  We have dealt with our long term rentals in LA for years now but this is our first airbnb, so anything and everything is greatly appreciated.

Really appreciate it.

Nathan Diones · Answer

Hi @Amanda Alvarado yeah they are definitely not cheap. It's always been their word against ours and they always swear they locked them back up only for us to find them missing for the next renter the following weekend.  I guess one way to change that may be to lock them up at the house and have the tenants carry them to and from the dock in the future.  Plus as you may know any argument with an AirBnb tenant may lead to a negative review and hold your potential of future tenants at stake.

Also if you throw in a BBQ, make sure the last tenant didn't use all the propane!  A few years back we literally refunded an entire 3 night stay because the tenant gave a 1 star review over having to hassle with walking to get the propane filled up and what a nightmare 100 yards from our dock to Stater Bros market was.  Oh well, live and learn!

Amanda Alvarado · Answer

Thanks so much Nathan!!  That really helps.  Gosh 3 kayaks?!  Kayaks are not cheap!!  I'm sorry. Is your renter liable for a lost kayak? I've been trying to think of ways to somehow attach a liability cost to it if it does get lost but I don't even know if that's possible.

Can't wait to personally get out on that lake!!

Thank you.

Amanda Alvarado · Answer

Thanks so much Aaron!  That really puts things into perspective.  What about for resale purposes? I personally feel that lakeside property hold their value without docks.  Thoughts?  Thank you

Nathan Diones · Answer

Since Arrowhead is a private lake with many restrictions about being able to put your boat on there, tenants would not be allowed to put their boat on the water unless they actually own improved property in Lake Arrowhead.  My partner and I have an AirBnB and a dock where we keep our boat.  We can generally obtain an extra $100 or more per night when including use of the dock (never the boat) as well as kayaks, fishing poles, etc.  It has been somewhat of a pain at times when the tenants don't lock the kayaks back up and they go floating away or missing.  I know this because we have replaced our kayaks 3 times over 5 years, not very fun.

With the average dock cost running $80,000 - $100,000 these days, it would be great pick up a dock below or within a 2 minute walk from your back door but anything longer than that may not appeal to renters that often.  Lot of money to put up for an extra $100 ± per night.  However I would definitely pick up a dock for your own personal use and enjoyment, you won't regret it! See you on the lake!

Aaron K. · Answer

Hi Amanda, Arrowhead is beautiful, but think about what your tenants would use a dock for to see if it would warrant the cost.

If they have canoes or kayaks they don't need a dock.  If they have a larger boat they need a place to put the boat in and out of the water.  Does your property have enough parking for someone with a truck and an empty boat trailer? if not then you probably wouldn't have too many people who bring their own large boat (you likely wouldn't have many anyway).  The only other reason for a dock would be aesthetics and fishing, which I think would add marginal value at best.