Your Clearwater rental property’s backyard plays a major role in its general appearance. Yet, there’s a huge gap between creating your dream backyard and constructing a functional, attractive one. The latter will help you maximize your rental rates and increase your property’s value, while the former may not attain either.
In contrast with spending in an extravagant backyard for a rental property, it is more prudent to create an appealing, low-maintenance yard, which will be highly valued by tenants and find easy to upkeep.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to embellish the landscaping. Business experts advise spending at most 10 percent of the property’s value in landscaping. However, if it is not a tangible benefit, there is no reason to go that high. A house with an extensively landscaped yard won’t bring as much extra rent as you might assume. Actually, overdoing it on the landscaping can dishearten prospective tenants due to all the additional upkeep required from them.
Search 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 doesn’t involve any kind of enhancement. Instead, devote time to improving the quality of what’s already there. A green, neatly trimmed lawn and well-cared-for greenery quickly improve the beauty and 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 anticipations.
Improve the property’s backyard affordably
Other relatively affordable backyard upgrades include outdoor lighting and creating inviting spaces for socializing. In contrast to focusing on overpriced planter beds filled with flowers, consider upgrading your property’s yard with features your tenant will be pleased about for gatherings or evening activities. These upgrades are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) might seem like an extravagant renovation, but offering a rental home with a ready-made space for socializing with relatives and friends can enhance its charm. Also, studies have indicated that a patio or deck increases property values, setting it apart 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 has benefits beyond simple appearance. Renters will love the enhanced protection and usefulness provided by backyard lighting, such as motion-sensing or energy-efficient lighting fixtures. Outdoor lighting will also complement any outdoor gathering spaces your rental property has and improve the home’s curb appeal after dark.
Without regard to the improvements you choose for your Clearwater rental property’s backyard, grasping which ones present the best return on your investment plays a key role in successful property management. By addressing excellent features with a low-maintenance design, you can attract the type of renters you want while still improving your property values. As a property owner, you have the potential to shape a backyard that tenants will like and that will enhance your property’s appeal.
At Real Property Management Sunshine City, we help in planning a backyard design that makes the most of the value of your investment. We have a solid understanding of the backyard upgrades that can lead to higher rent and are here to assist you in transforming your Clearwater property into a welcoming space for tenants. If you need more information, feel free to contact us online or call us at 727-625-4351.
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