Everybody knows that your Bonita Springs rental property’s backyard is an essential part of its total appeal. However, there is a major contrast as to when it comes to creating your dream backyard and building an appealing and functional backyard. One of which will help you maximize your rental rates and increase your property’s value, on the other hand, the other probably won’t do either of the two. So, instead of installing the yard of your dreams in a rental property, the more practical option is to create an attractive, low-maintenance yard that looks great to tenants and is also easy for them to maintain.
One of the most significant mistakes you can make as a rental property owner is to overdo it on the landscaping. Industry experts say that it is better to keep your spending to no more than 10 percent of the property’s value in landscaping. However, unless there is a definite benefit to doing so, you probably don’t even need to go even that high. A home with an extensively landscaped yard will not give you as much extra rent as you might think. In fact, overdoing it on the landscaping can even turn potential tenants away because of all the extra maintenance that will be needed.
To keep your property attractive and profitable, aim for backyard upgrades that offer the highest returns for the cost. The initial step to an attractive backyard isn’t really an upgrade at all. Instead, focus on improving the quality of what’s already there. A green, neatly trimmed lawn and well-cared for greenery will add instant appeal and help 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 fastest ways to get your property’s backyard living up to expectations.
Some 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 features that could be utilized by your tenant for gatherings or evening activities. Adding a simple patio (or deck) may seem as if it is a luxury upgrade, but you may generate more appeal by having a rental home that has a ready-made space for gathering with family and friends. On top of all that, research has shown that unlike other backyard features, a patio or deck does increase property values, making it one expense to consider for your rental property seriously.
Outdoor lighting is one of the most budget-friendly backyard upgrades you can add that has benefits way past simple appearance. Renters will appreciate the added security and usefulness of backyard lightings such as motion-sensing or energy-efficient lighting fixtures. Outdoor lighting will also balance any outdoor gathering spaces your rental property has, adding to the home’s curb appeal after dark.
No matter which improvements you finally choose to make to your Bonita Springs rental property’s backyard, recognizing which ones will give the highest return for your money is an integral part of managing a successful rental house. By concentrating on quality features with a low-maintenance design, you can draw in the type of renters you want while still growing your property values.
At Real Property Management Rental Direction, we can help you plan a backyard for your rental property that tenants will love and, at the same time, one that is formulated get the maximum value for every dollar spent. We know which backyard improvements correspond to solid rent increases, and can guide your property preparations to ensure you’ve created a backyard with your tenants in mind. Contact us or call us at 239-240-8111 for more information.
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