Your Sylmar rental property’s backyard plays an integral part in determining its overall attractiveness. However, there’s an important gap between creating your dream backyard and establishing 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.
When it comes to investing in an extravagant backyard for a rental property, it is preferable to create an appealing, low-maintenance yard that tenants will enjoy and find simple to manage.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is excessively decorating the landscaping. Experts in the business recommend spending at most 10 percent of the property’s value in landscaping. However, unless there is a tangible benefit to doing so, there is no need to reach a high level of excellence. A home with an extensively landscaped yard will not result in as significant extra rent as you might expect. To tell the truth, overdoing it on the landscaping may put off interested tenants due to all the additional upkeep required on their end.
Seek backyard upgrades that offer the highest returns for the cost to keep your property attractive and profitable. The first step to a beautiful backyard does not involve any form of enhancement. Rather, deal with improving the quality of what’s already there. A green, neatly trimmed lawn and well-cared-for greenery will quickly improve the attractiveness and help boost the value of your property. If your property’s lawn is looking a bit sparse or bare, reseeding or including 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 are outside lighting and outdoor gathering areas. Instead of producing expensive planter beds filled with flowers, think about upgrading your property’s yard with amenities that could be used by your tenant for get-togethers or evening events. Such improvements are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may sound like an unnecessary improvement, but it can enhance the attractiveness of it by offering a rental home with a ready-made space for interacting with loved ones. What is more, studies have discovered that, unlike 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 include, and it offers benefits beyond simple appearance. Renters are going to enjoy the enhanced security and convenience of backyard lighting, such as motion-sensing or energy-efficient lighting fixtures. Outdoor lighting will also complement any outdoor gathering spaces your rental property has, contributing to the home’s curb appeal after dark.
Regardless of the improvements you choose for your Sylmar rental property’s backyard, determining which ones yield the best return on your investment is a vital aspect of successful property management. By highlighting quality amenities with a low-maintenance design, you can attract the type of renters you want and simultaneously improve the selling price of your property. As a property owner, you possess the authority to shape a backyard that tenants would adore, and that will enhance your property’s appeal.
At Real Property Management Vision, we help in planning a backyard design to make the most of the return of investment. We understand which backyard developments lead to rent increases and can assist you in arranging your Sylmar property to create a tenant-friendly backyard. To obtain further details, please contact us online or call us at 818-233-8789.
Originally Published on Dec 13, 2019
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