Without a doubt, your Jamaica rental property’s backyard is one of the vital parts of its overall appeal. Be aware though, that there is a significant difference between creating your dream backyard and building an appealing and functional backyard. One will help you maximize your rental rates and increase your property’s value, while the other wouldn’t probably do either. Try to create an attractive, low-maintenance yard in place of installing the yard of your dreams in a rental property; that way, you get to make your property look good to tenants and at the same time, also easy for them to maintain.
One of the biggest mistakes you can possibly make as a rental property owner is 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 even that high. A home with an extensively landscaped yard will not work for as much extra rent as you might think. In fact, overdoing it on the landscaping can actually turn potential tenants away due to all the extra maintenance required.
To keep your property attractive and profitable, aim for backyard upgrades that offer the highest returns for the cost. The first step to an attractive backyard isn’t really an upgrade, at the very least. Instead, concentrate 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 sure-fire ways to get your property’s backyard living up to expectations.
Other relatively affordable backyard upgrades include outdoor lighting and outdoor gathering spaces. Instead of creating lavish planter beds filled with flowers, upgrade your rental’s yard with features that could be used by your tenant for get-togethers or evening events. Adding a simple patio (or deck) may seem as though it is a luxury upgrade, except that you could create more appeal by presenting a rental home with a ready-made space for gathering with family and friends. In addition, research has shown that not like other backyard features, a patio or deck does increase property values, making it one expense to seriously consider for your rental property.
Outdoor lighting is one of the most budget-friendly backyard upgrades you can add that has benefits other than mere appearance. Renters will appreciate the added security and usefulness of backyard lighting 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 eventually opt to go with to make to your Jamaica rental property’s backyard, identifying which ones will yield the highest return for your money is an essential aspect of managing a successful rental house. By directing your efforts on quality features with a low-maintenance design, you can bring in the type of renters you want while still growing your property values.
At Real Property Management New York Gold, 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 guarantee that you’ve created a backyard with your tenants in mind. Contact us or call us at 347-905-5770 for more information.
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