Your Forth Worth rental property’s backyard plays a vital part in its overall charm. However, there is a noticeable distinction between creating your dream backyard and creating a functional, attractive one. Choosing the latter option can help you maximize your rental rates and increase your property’s value, whereas the former choice may not yield the same result.
Instead of splurging on an extravagant backyard for a rental property, it’s better to create an appealing, low-maintenance yard that tenants will adore and find effortless to take care of.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to overdo the landscaping. Industry experts recommend spending at most 10 percent of the property’s value in landscaping. But unless there is a tangible benefit to doing so, there is no reason to go even that high. Having a home with an extensively landscaped yard won’t result in as much extra rent as you might think. Truthfully, overdoing it on the landscaping could repel potential tenants because of 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 an upgrade at all. Instead, spend time on improving the quality of what’s currently 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 placing some sod is one of the quickest ways to get your property’s backyard meet your standards.
Improve the property’s backyard affordably
Other relatively affordable backyard upgrades include outdoor lighting and outdoor gathering spaces. As opposed to focusing on costly flower-filled planter beds, why not upgrade your property’s yard with features that your tenant can enjoy for gatherings or evening activities? These changes are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may sound like a costly upgrade, but you may create more attraction by offering a rental home with a ready-made space to spend time with loved ones. Additionally, studies have indicated that a patio or deck increases property values, distinguishing it from other backyard features. This makes it an expense to consider for your rental property.
Outdoor lighting is one of the most budget-friendly backyard upgrades you can add, and it delivers benefits beyond simple appearance. Renters will appreciate the enhanced security and convenience provided by backyard lighting options, such as motion-sensing or energy-efficient lighting fixtures. Outdoor lighting will also complement any outdoor gathering spaces your rental property has, adding to the home’s curb appeal after dark.
Regardless of the improvements you choose for your Fort Worth rental property’s backyard, being mindful which ones present the best return on your investment is important for successful property management. By prioritizing outstanding amenities with a low-maintenance design, you can attract the type of renters you want while also boosting your property values. As a property owner, you have the ability to shape a backyard that tenants will appreciate and that will enhance your property’s appeal.
At Real Property Management Meridian, we specialize in planning a backyard design that provide the best value of your investment. We have extensive knowledge of the backyard improvements that can lead to higher rent and are here to assist you in getting your Fort Worth property ready to create a welcoming backyard for your tenants. If you need further information, please contact us online or call us at 817-678-8787.
Originally Published on Dec 13, 2019
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