Your Columbia rental property’s backyard has a significant contribution in its overall charm. However, there is a noticeable discrepancy between creating your dream backyard and creating a functional, attractive one. Selecting the latter option can help you maximize your rental rates and increase your property’s value, whereas the former choice may not yield the same outcome.
Instead of putting resources in an extravagant backyard for a rental property, it is advisable to create an appealing, low-maintenance yard that tenants will appreciate and find simple to deal with.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to overact the landscaping. Industry specialists advise spending at most 10 percent of the property’s value in landscaping. Yet, unless there is a tangible benefit to doing so, there is no cause to go even that high. Having a house with an extensively landscaped yard won’t bring about as much extra rent as you might believe. Truthfully, overdoing it on the landscaping could dissatisfy potential tenants because of all the additional upkeep required from them.
Seek 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 advancement at all. Instead, focus on improving the quality of what’s currently there. A green, neatly trimmed lawn and well-cared-for greenery will add immediate appeal and help boost the value of your property. If your property’s lawn is looking a bit sparse or vacant, reseeding or putting some sod is one of the quickest ways to get your property’s backyard meet your standards.
Improve the property’s backyard affordably
An additional relatively affordable backyard upgrade is to include outdoor lighting and create inviting gathering areas. As opposed to prioritizing costly flower-filled planter beds, why not upgrade your property’s yard with amenities that your tenant can use for meetings or night activities? These adjustments are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may sound like a major enhancement, but it may create more attraction by offering a rental home with a ready-made space to spend time with relatives and friends. Also, studies indicates that a patio or deck increases property values, distinguishing it from other backyard amenities. This makes it an expense to consider for your rental property.
Outdoor lighting is one of the most budget-friendly backyard upgrades you can do, and it brings benefits beyond simple appearance. Renters will find backyard lighting options a great addition, as they offer improved security and convenience. These options include motion-sensing or energy-efficient lighting fixtures. Outdoor lighting will also complement any outdoor gathering spaces your rental property has, contributing to the home’s curb appeal once the sun goes down.
Disregarding the improvements you choose for your Columbia rental property’s backyard, knowing which ones present the best return on your investment is imperative for successful property management. By paying attention to excellent features with a low-maintenance design, you can attract the type of renters you want while also increasing your property values. As a property owner, you have the capacity to shape a backyard that tenants will love, and that will enhance your property’s appeal.
At Real Property Management Renowned, we excel at planning a backyard design that offer exceptional value for your investment. We have extensive knowledge of the backyard enhancements that can result to higher rent and are here to assist you in getting your Columbia property prepared to create a welcoming backyard for your tenants. If you need more details, please contact us online or call us at 410-442-6589.
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