Your Hixson rental property’s backyard is an important factor in its overall appeal. However, there’s a big dissimilarity 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 achieve either.
As opposed to investing in an extravagant backyard for a rental property, the smarter option is to create an appealing, low-maintenance yard that tenants will like and find easy to maintain.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to overdo the landscaping. Professionals in the field suggest spending at most 10 percent of the property’s value in landscaping. But unless there is a tangible benefit to doing so, you don’t need to go even that much. A home with an extensively landscaped yard will not earn as much extra rent as you may imagine. In fact, overdoing it on the landscaping may disappoint potential tenants due to all the additional upkeep required from them.
Choose 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 improvement at all. In its place, pay attention to improving the quality of what’s already there. A green, neatly trimmed lawn and well-cared-for greenery will add prompt appeal and help boost the value of your property. If your property’s lawn is looking a bit sparse or bare, reseeding or placing 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 are exterior lighting and outdoor gathering spaces. As opposed to making extravagant planter beds filled with flowers, think about upgrading your property’s yard with features that could be utilized by your tenant for assemblies or evening activities. These advancements are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may sound like a luxury renovation, but you may create more allure by offering a rental home with a ready-made space for gathering with relatives and friends. Besides, research has shown that, dissimilar to 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 like the added safety and usefulness 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, adding to the home’s curb appeal during night hours.
Irrespective of the improvements you choose for your Hixson rental property’s backyard, figuring out which ones offer the best return on your investment is a key factor in successful property management. By paying attention to quality features with a low-maintenance design, you can attract the type of renters you want while still boosting your property values. As a property owner, you have the power to shape a backyard that tenants will love, and that will enhance your property’s appeal.
At Real Property Management Your Home, we help in planning a backyard design that make best use of the value of every dollar spent. We see which backyard enhancements lead to rent increases and can help you prepare your Hixson property to establish a tenant-friendly backyard. For more details, please contact us online or call us at 423-704-9944.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
