Your Goddard rental property’s backyard is a notable section of its overall appeal. Nonetheless, there is a significant contrast between creating your dream backyard and building an appealing and functional backyard. One will help you maximize your rental rates and increase your property’s value, while the other likely won’t do either. Rather than installing the yard of your dreams in a rental property, the more useful choice is to create an attractive, low-maintenance yard that looks amazing to tenants and is likewise easy for them to maintain.
Perhaps one of the biggest mistakes you can execute as a rental property owner is to overdo it on the landscaping. Industry experts advise designating no more than 10 percent of the property’s value in landscaping. Therefore, except if there is a material advantage to doing so, you probably don’t even need to go that high. A home with an extensively landscaped yard will not earn as much extra rent, as you may anticipate. Overdoing it on the landscaping can actually turn potential tenants away due to all the extra maintenance expected.
To keep your property attractive and profitable, aim for backyard upgrades that offer the highest returns for the cost. The primary step to an attractive backyard isn’t really an upgrade at all — instead, center around improving the quality of what’s now there. A green, neatly trimmed lawn and well-cared for greenery will add instant appeal and help boost the value of your property. On the off chance that your property’s lawn is looking a bit sparse or bare, reseeding or adding some sod is one of the most durable ways to get your property’s backyard living up to expectations.
Other relatively affordable backyard upgrades include outdoor lighting and outdoor gathering spaces. As opposed to creating lavish planter beds filled with flowers, upgrade your rental’s yard with pieces that could be utilized by your tenant for group functions or evening activities. Adding a simple patio (or deck) may seem like a luxury upgrade, but you may generate more appeal by offering a rental home with a ready-made space for meeting with family and friends. Besides, research has revealed that unlike other backyard features, a patio or deck does increase property values, making it one expense to consider for your rental property.
Outdoor lighting is one of the most budget-friendly backyard upgrades you can incorporate that has advantages past mere appearance. Renters will welcome the added security and convenience of backyard lightings such as motion-sensing or energy-efficient lighting fixtures. Outdoor lighting will also complement any outdoor gathering spaces your rental property has, adding to the home’s curb appeal after dark.
Notwithstanding which improvements you finally determine best to make to your Goddard rental property’s backyard, knowing which ones will yield the highest return for your money is a significant part of managing a successful rental house. By centering on quality features with a low-maintenance design, you can attract the type of renters you want while still growing your property values.
At Real Property Management First Choice, we can help you plan a backyard for your rental property that tenants will love and, simultaneously, one that is designed to get the maximum value for every dollar spent. We know which backyard improvements correspond to solid rent increases, and can guide your property arrangements to guarantee you’ve created a backyard with your tenants in mind. Contact us or call us at 479-242-0791 for more information.
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