A crucial element of the overall appeal of your Clifton Park rental property is its backyard. Yet, there’s a big distinction between creating your dream backyard and making a functional, attractive one. The latter will allow you to maximize your rental rates and increase your property’s value, while the former may not accomplish either.
It makes more sense to create an appealing, low-maintenance yard that tenants will love and find easy to handle rather than investing in an extravagant backyard for a rental property.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is overemphasizing the landscaping. Industry specialists advise spending at most 10 percent of the property’s value in landscaping. However, 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 might believe. In fact, overdoing it on the landscaping can discourage possible tenants due to all the additional upkeep required from them.
Select backyard upgrades that offer the highest returns for the money to keep your property attractive and profitable. The first step to a beautiful backyard isn’t even an upgrade at all. As an alternative, prioritize improving the quality of what currently exists. A green, neatly trimmed lawn and well-cared-for greenery will boost the appeal right away 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
Additional relatively affordable backyard upgrades include outside lighting and outdoor areas for gathering. Consider upgrading your property’s yard with amenities that your tenant may use for parties or nighttime activities instead of filling it with excessive planter beds filled with flowers. Not only are these upgrades cost-effective, but they can add significant value to your property.
Adding a simple patio (or deck) may seem like a costly addition, but offering a rental home with a ready-made space for accommodating guests may boost desirability. In addition, research has indicated that, unlike other backyard amenities, a patio or deck increases property values, making it an expense to consider for your rental property.
Incorporating outdoor lighting is one of the most budget-friendly backyard upgrades and provides benefits beyond simple appearance. The extra security and utility that comes with motion-sensing or energy-efficient lighting fixtures will attract renters. Outdoor lighting will also complement any outdoor gathering spaces your rental property has, boosting the home’s curb appeal at night.
No matter the improvements you choose for your Clifton Park rental property’s backyard, determining which ones deliver the best return on your investment is an important element of successful property management. By concentrating on excellent features with a low-maintenance design, you can attract the type of renters you want while still growing your property’s worth. It is within your capability as a property owner to shape a backyard that tenants will enjoy, enhancing your property’s appeal.
At Real Property Management Capital Region, we deliver planning a backyard design that maximizes the use of each dollar spent. We can assist you in getting your Clifton Park house prepared for tenants by understanding which backyard improvements result in higher rent. For more details, please contact us online or call us at 518-290-1448.
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