Without a doubt, your Ponte Vedra Beach rental property’s backyard is an essential bit of its overall appeal. However, there is a big difference between creating your dream backyard and building an appealing and functional backyard. One will help you maximize your rental rates and increase your property’s value, whereas the other probably won’t do both. Rather than installing the yard of your dreams in a rental property, the better way to go about it is to create an attractive, low-maintenance yard that is enticing to tenants and is also easy for them to maintain.
One of the biggest mistakes you can possibly make as a rental property owner is to overdo it on the landscaping. Industry experts usually advise going for spending no more than 10 percent of the property’s value in landscaping. Nevertheless, unless there is a clear benefit to doing so, you probably don’t even have to go even that high. A home with an extensively landscaped yard will not necessarily get you as much extra rent, as you might assume. As a matter of fact, overdoing it on the landscaping can even turn potential tenants away because of all the extra maintenance required.
To make sure that your property is kept 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. Rather, concentrate 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 more relatively affordable backyard upgrades include outdoor lighting and outdoor gathering spaces. Rather than creating lavish planter beds filled with flowers, upgrade your rental’s yard with features that could be utilized sed by your tenant for get-togethers or evening activities. Adding a simple patio (or deck) may appear like a luxury upgrade, but you may create more appeal by presenting a rental home with a ready-made space for gathering with family and friends. Furthermore, research has revealed that when compared to 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.
Regardless of which improvements you will eventually end up choosing to make to your Ponte Vedra Beach rental property’s backyard, knowing which ones will offer the highest return for your money is an integral part of managing a successful rental house. By focusing on quality features with a low-maintenance design, you can attract the type of renters you want while still growing your property values.
At Real Property Management Sunstate, we can help you plan a backyard for your rental property that tenants will love and, at the same time, one that is designed to 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 877-373-8404 for more information.
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