Your Austin rental property’s backyard is, without a doubt, an essential aspect of its overall appeal. However, there is a substantial difference between creating your dream backyard and building an appealing and functional backyard. One will be very helpful when you want to maximize your rental rates and increase your property’s value, while the other probably won’t do either. So, knowing this, it is then better to create an attractive, low-maintenance yard that looks good to tenants and is also easy for them to maintain than installing the yard of your dreams in a rental property.
It is one of the biggest mistakes you can make as a rental property owner—to overdo it on the landscaping. Industry experts recommend spending no more than 10 percent of the property’s value in landscaping. Except when there is a tangible benefit to doing so, you probably don’t even have to go that high. A home with an extensively landscaped yard is not automatically equal to extra rent. In fact, overdoing it on the landscaping can turn potential tenants away because of all the extra maintenance that will be needed.
To keep your property 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. Instead, focus 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.
Further relatively affordable backyard upgrades include outdoor lighting and outdoor gathering spaces. In place of creating lavish planter beds filled with flowers, upgrade your rental’s yard with structures that possibly will be used by your tenant for gatherings or evening activities. Adding a simple patio (or deck) may sound like a luxury upgrade, but you may create more appeal by offering a rental home with a ready-made space for gathering with family and friends. What is more, research has shown that not like 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 advantages way beyond simple appearance. Renters will like the added security and usefulness of backyard lightings 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.
No matter which improvements you ultimately select to make to your Austin rental property’s backyard, identifying which ones will offer the highest return for your money is an integral part of managing a successful rental house. By dwelling on quality features with a low-maintenance design, you can draw in the type of renters you want while still growing your property values.
At Real Property Management Advisors, 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 512-777-2597 for more information.
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.
