Car Conundrums and Parking Pickles

One of the issues that faces landlords and investors wanting to rent and/or flip properties is trying to grapple with the function and amenities that are often missing in many of the old homes in Ogden.  I purchased a fourplex once that lacked any laundry services in any of the units.  I have purchased properties where we had to deal with gray water issues and obsolete boiler systems. 

However, one of the most notorious problems (and likely the most overlooked) is the importance of parking for automobiles.

This problem manifests itself in several different ways in Ogden:

1.  The Common Driveway

The common driveway, a driveway shared by two homes, can be a hit and miss problem.  For instance lets take this home as an example.

I showed this recently to some buyers.  On a scale of 1 to 10 the home's condition and style is a 9.5.  Its very impressive.  However, as we walked around the property here is what we found.

Uh oh, this looks like quite a tight space.  The big SUV might have a tight squeeze in this space.

When going to the back we discover that the neighbor has a pad to park on but the home we are looking at does not.  In order to shorten market time and maximize the sales price, the seller of this home will likely need to install a parking pad.  My buyers loved the home but could not see themselves putting the effort into pouring a parking pad.

On the other hand, common drives can work well if there is ample room to move and to park.  Here are a couple of examples:

2.  The Abuttars Alley

The abuttars alley was a commonly used method for accessing property from the rear of the lot some 90 years ago.  Often, homes were built so closely together that abuttars alleys were necessary so parking could occur in the back yard.  Often times garages would exit immediately into the alley rather than trying to exit into the back yard to reach the front of the property.  The problem with alleys is that maintenance needs to be done to keep them up.  There are three homes that I am aware of that could utilize this alley since they have no driveways or parking off street.  However, it looks like no one has taken advantage of this opportunity.  There are probably all kinds of hidden surprises lurking in the overgrowth.

3.  Former Driveways

Finally, many homes once had driveways but have since been sodded over.  Here is a photo of a home I sold several years ago that was impeded by the lack of a driveway.

 You can clearly see where a driveway existed at one time.  We had multiple offers on this property but the driveway problem kept us from receiving many more. 

The bottom line is that parking is a big issue for buyers and renters.  Market times are shortened and prices and rents are increased when parking is adequately addressed.  Keep that in mind while shopping in the market for a property.