Your Levittown rental property’s backyard plays a major role in its overall attractiveness. But creating your dream backyard and producing a functional, attractive are two very different things. The latter will enable you to maximize your rental rates and increase your property’s value while the former might not do either.
Instead of investing in an extravagant backyard for a rental property, the smarter choice is to create an appealing, low-maintenance yard that tenants will love and find easy to maintain.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is to overstate the landscaping. Specialists in the field advise spending at most 10 percent of the property’s value in landscaping. But you don’t have to reach that high unless there is a tangible benefit to doing so. A house with an extensively landscaped yard won’t gain as much extra rent as you might expect. In actual fact, because of the additional upkeep required, overdoing it on the landscaping may scare off prospective tenants.
To keep your property attractive and profitable, consider backyard upgrades that offer the highest returns for the investment. The first step to a beautiful backyard isn’t even an improvement at all. As an alternative, concentrate on improving the quality of what’s presently there. A green, neatly trimmed lawn and well-cared-for greenery will increase the curb appeal and help boost the value of your property. If your property’s lawn is looking a bit sparse or dull, reseeding or adding some sod is one of the quickest ways to get your property’s backyard stand out.
Improve the property’s backyard affordably
Outdoor meeting areas and outdoor lights are two more relatively affordable backyard upgrades. Rather than filling your property’s yard with extravagant flower-filled planter beds, think about upgrading your property’s yard with amenities that could be used by your tenant for parties or after-hours events. These changes are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) can seem like a luxurious investment, but you may create more attraction by offering a rental home with a ready-made space for gathering with family and friends. Additionally, research indicates that, in contrast to 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 add, and it has benefits beyond simple appearance. The increased security and utility of backyard lighting, such as motion-sensing or energy-efficient lighting fixtures, will appeal to renters. Additionally, exterior lighting will complement any outdoor gathering spaces your rental property has, adding to the home’s curb appeal after dark.
Whichever of the improvements you choose for your Levittown rental property’s backyard, knowing which ones will yield the best return on your investment is a key element of successful property management. By concentrating on exceptional amenities with a low-maintenance design, you can attract the type of renters you want while still growing your property values. As a property owner, you have the ability to shape a backyard that tenants can enjoy and that will enhance your property’s appeal.
At Real Property Management Prosperity, we help in planning a backyard design that make the most of every dollar invested. We can assist you in getting your Levittown property ready to have a backyard that appeals to renters. We are aware of which backyard upgrades result in higher rental rates. For more details, please contact us online or call us at 267-364-5785.
Originally Published on Dec 13, 2019
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
