Your Bowling Green rental property’s backyard is an essential factor in its overall charm. Conversely, there’s a substantial gap between creating your dream backyard and making a functional, attractive one. The latter will help you maximize your rental rates and increase your property’s value, while the former might fail to accomplish either.
Instead of putting resources in an extravagant backyard for a rental property, it is more practical to create an appealing, low-maintenance yard that tenants will find attractive and uncomplicated to look after.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to overdo the landscaping. Business experts propose spending at most 10 percent of the property’s value in landscaping. However, there is no necessity to exceed that level unless there is a tangible benefit to doing so. You may be surprised to learn that a residence with an extensively landscaped yard will not incur extra rent. Truthfully, overdoing it on the landscaping may turn away possible tenants due to all the additional upkeep required from them.
Look for 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. Concentrate instead on improving the quality of the existing content. A green, neatly trimmed lawn and well-cared-for greenery will immediately boost the value of your property and add instant allure. If your property’s lawn is looking a bit sparse or bare, reseeding or putting 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 include outdoor lighting and outdoor socializing areas. Consider upgrading your property’s yard with amenities that could be utilized by your tenant for social events or gatherings, rather than constructing extravagant planter beds covered in flowers. These transformations are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may sound like a luxury upgrade, but you may create more appeal by offering a rental home with a ready-made space for gathering with family and friends. Moreover, research has shown 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 make, and it has benefits beyond simple appearance. Renters will appreciate the additional protection and functionality 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, improving the home’s curb appeal after dark.
Irrespective of the improvements you choose for your Bowling Green rental property’s backyard, comprehending which ones present the best return on your investment plays a major role in successful property management. In addition to increasing the value of your property, you can attract the type of renters you want by emphasizing quality features and a low-maintenance design. As a property owner, you have the power to shape a backyard that tenants will enjoy, and that will enhance your property’s appeal.
At Real Property Management Clarity Team, we help in planning a backyard design that take full advantage of the value of every dollar spent. We identify which backyard upgrades lead to rent rises and can help you organize your Bowling Green property to develop a tenant-friendly backyard. For additional information, please contact us online or call us at 567-200-2320.
Originally Published on Dec 13, 2019
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