Your Hansen rental property’s backyard is a critical factor in its general allure. However, there’s a big distinction between creating your dream backyard and building a functional, attractive one. The latter will help you maximize your rental rates and increase your property’s value, while the former may not accomplish either.
Rather than putting resources in an extravagant backyard for a rental property, it is advisable to create an appealing, low-maintenance yard that tenants will cherish and view as simple to keep up with.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to exaggerate the landscaping. Industry specialists propose spending at most 10 percent of the property’s value in landscaping. Yet, except if there is a tangible benefit to doing so, you don’t have to go even that high. A home with an extensively landscaped yard won’t cost as much extra rent as you might expect. As a matter of fact, overdoing it on the landscaping can turn interested tenants away because of all the additional upkeep required from them.
Prioritize backyard upgrades that offer the highest returns for the cost to keep your property attractive and profitable. The first step to a beautiful backyard isn’t even an enhancement at all. Instead, focus on improving the quality of what’s now there. A green, neatly trimmed lawn and well-cared-for greenery will add instant charm and help boost the value of your property. If your property’s lawn is looking a bit sparse or bare, reseeding or adding some sod is one of the quickest ways to get your property’s backyard to live up to expectations.
Improve the property’s backyard affordably
Other relatively affordable backyard upgrades incorporate exterior lighting and outside social event spaces. Rather than making extravagant planter beds filled with flowers, consider upgrading your property’s yard with facilities that could be used by your tenant for get-togethers or night exercises. These upgrades are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may sound like a luxury development, but you might make more allure by offering a rental home with a ready-made space for social occasions with family and friends. Besides, research has discovered that, unlike other backyard features, a patio or deck increases property values, making it an expense to consider for your rental property.
Outdoor lighting is one of the most budget-friendly backyard upgrades you can add, and it has benefits beyond simple appearance. Renters will like the additional security and practicality of backyard lighting, such as motion-sensing or energy-efficient lighting fixtures. Exterior lighting will also complement any outdoor gathering spaces your rental property has, boosting the home’s curb appeal after dark.
No matter what the improvements you choose for your Hansen rental property’s backyard, being mindful of which ones offer the best return on your investment is a crucial part of successful property management. By concentrating on quality features with a low-maintenance design, you can attract the type of renters you want while still raising your property values. As a property owner, you have the ability to shape a backyard that tenants will cherish, and that will enhance your property’s appeal.
At Real Property Management Magic Valley, we help in planning a backyard design that boosts the worth of every dollar spent. We know which backyard upgrades lead to rent increases and can assist you with preparing your Hansen property to make a backyard that welcomes tenants. For additional data, please contact us online or call us at 208-734-4001.
Originally Published on Dec 13, 2019
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