Your Sterling Heights rental property’s backyard plays a crucial role in determining its overall attractiveness. Nevertheless, there’s a notable distinction between creating your dream backyard and constructing a functional, attractive one. The second option will enable you to maximize your rental rates and increase your property’s value, whereas the former option may not accomplish either of these objectives.
Instead of allocating funds to an extravagant backyard for a rental property, it is wiser to create an appealing, low-maintenance yard that tenants will appreciate and find effortless to upkeep.
How much landscaping is too much?
One of the biggest mistakes you can make as a rental property owner is over-embellishing the landscaping. Professionals in the industry 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 necessity to reach such a high level. A residence with an extensively landscaped yard will not incur as much extra rent as you might expect. In fact, overdoing it on the landscaping can deter prospective tenants due to all the additional upkeep required on their part.
Strive for 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. Instead, target improving the quality of what’s currently there. A green, neatly trimmed lawn and well-cared-for greenery will immediately enhance the attractiveness and boost the value of your property. If your property’s lawn is looking a bit sparse or bare, the quickest way to get your property’s backyard desired appearance is to either reseed or introduce sod.
Improve the property’s backyard affordably
Additional relatively affordable backyard upgrades include the installation of exterior lighting and outdoor meeting areas. Instead of constructing costly planter beds filled with flowers, contemplate upgrading your property’s yard with facilities that could be utilized by your tenant for social meetings or evening pastimes. These modifications 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 you may establish more attraction by offering a rental home with a ready-made space to socialize with your loved ones. Furthermore, studies have demonstrated that, unlike other backyard services, 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. Renters will appreciate the enhanced security and practicality of backyard lighting, such as motion-sensing or energy-efficient lighting fixtures. In addition, outdoor lighting will enhance the home’s curb appeal during nighttime hours and complement any outdoor gathering spaces for your rental property.
Regardless of the improvements you choose for your Sterling Heights rental property’s backyard, knowing which ones deliver the best return on your investment is an important element of successful property management. By prioritizing high-quality features with a low-maintenance design, you can attract the type of renters you want while still increasing your property values. As a property owner, you have the power to shape a backyard that tenants will love, and that will enhance your property’s appeal.
At Real Property Management Silverstone, we help in planning a backyard design to optimize the return on investment. We possess knowledge regarding the specific backyard enhancements that result in higher rental rates. We can assist you in preparing your property in Sterling Heights to establish a backyard that is appealing to potential tenants. To obtain further details, please contact us online or call us at 586-992-6419.
Originally Published on Dec 13, 2019
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