One of the most attractive parts of your Cedar Park rental property is its backyard. But creating your dream backyard and establishing a functional, attractive one is two very dissimilar things. The latter will help you maximize your rental rates and increase your property’s value, while the former may not achieve either.
The best investment for a rental property would be to creating an appealing, low-maintenance yard that tenants would love and appreciate instead of spending on extravagant backyards.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to go overboard with the landscaping. Experts in the field advise spending at most 10 percent of the property’s value in landscaping. There is no necessity for you to resort to such severe measures unless it would result in a tangible benefit. Extra rent won’t be as high for a home with an extensively landscaped yard as you might expect. Actually, overdoing it on the landscaping can disappoint prospective tenants due to all the additional upkeep required from them.
Focus on 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 a development at all. As a substitute, put your attention to 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 putting some sod is one of the quickest ways to make your property’s backyard seem better.
Improve the property’s backyard affordably
Additional relatively affordable backyard upgrades are exterior lighting and outdoor socializing spots. Instead of covering your property’s flower beds with costly planters, consider upgrading your property’s yard with amenities that your tenant may utilize for social meetings or nighttime leisure. These enhancements are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may seem like an extravagant upgrade, but it really only attracts more potential tenants by offering a rental home with a ready-made space to relax and appreciate the outdoors. What is more, studies have proven that, dissimilar to other backyard amenities, a patio or deck increases property values, making it an expense to consider for your rental property.
With regard to budget-friendly backyard upgrades, outdoor lighting is ideal because it offers benefits beyond simple appearance. Renters will appreciate the inclusion of secure and practical backyard lighting options, such as motion-sensing or energy-efficient lighting fixtures. Exterior lighting will also complement any outdoor gathering spaces your rental property has, enhancing the home’s curb appeal after dark.
Regardless of the improvements you choose for your Cedar Park rental property’s backyard, it is vital to know which ones provide the best return on your investment. This is a key to successful property management. By highlighting quality amenities with a low-maintenance design, you can attract the type of renters you want while improving your property values. As a property owner, you have an opportunity to shape a backyard that tenants will be thankful for, and that will enhance your property’s appeal.
At Real Property Management Instant Equity, we help in planning a backyard design that maximizes the value of each investment. We can assist you in getting your Cedar Park property ready to make a tenant-friendly backyard by identifying the upgrades that lead to higher rental rates. To obtain additional information, please contact us online or call us at 512-500-0422.
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