Your Jamaica rental property’s backyard plays an important role in its overall appeal. However, there’s a considerable difference between creating your dream backyard and constructing a functional, attractive one. The second one will allow you to maximize your rental rates and increase your property’s value, whilst the first one may not achieve either.
Rather than investing in an extravagant backyard for a rental property, the better option is to create an appealing, low-maintenance yard that tenants will like and that is simple 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 exaggerate the landscaping. Experts in the field recommend spending at most 10 percent of the property’s value in landscaping. However, until there is a tangible benefit, you do not need to go much higher. A home with an extensively landscaped yard will not cost as much extra rent as you may expect. Actually, overdoing it on the landscaping can turn off future tenants due to all the additional upkeep required from them.
Invest in 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 improvement at all. Rather, concentrate on improving the quality of what already exists. A verdant, neatly trimmed lawn and well-cared-for greenery will offer instant attractiveness and help boost the value of your property. If your property’s lawn is looking a bit sparse or bare, reseeding or planting some sod is one of the quickest ways to get your property’s backyard to live up to standards.
Improve the property’s backyard affordably
Other relatively affordable backyard upgrades are outdoor lights and outdoor gathering areas. Instead of installing costly flower-filled planter beds, try upgrading your property’s yard with amenities that your tenant can utilize for gatherings or evening events. These improvements are not only cost-effective but also add significant value to your property.
Adding a simple patio (or deck) may appear to be a luxury enhancement, but you can increase attractiveness by offering a rental home with a ready-made space for entertaining family and friends. Furthermore, research indicates that, unlike other backyard amenities, 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 include, and it has benefits beyond simple appearance. Renters will appreciate the increased security and utility of backyard lighting, such as motion-sensing or energy-efficient lighting lamps. Outdoor lighting will also complement any outdoor gathering spaces your rental property has, increasing the home’s curb appeal after dark.
Irrespective of the improvements you choose for your Jamaica rental property’s backyard, knowing which ones provide the best return on your investment is an important component of successful property management. By emphasizing quality features with a low-maintenance design, you can attract the type of renters you want while raising your property values. As a property owner, you have the ability to shape a backyard that tenants will enjoy while enhancing your property’s appeal.
At Real Property Management New York Gold, we assist you in planning a backyard design that makes the best use of the value of every dollar spent. We understand which backyard upgrades contribute to rent rises and can assist you in preparing your Jamaica home to create a tenant-friendly backyard. To learn more, please contact us online or call us at 347-905-5770.
Originally Published on Dec 13, 2019
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