Here are the do’s and don’ts when considering a dream backyard for your Miramar rental property. Undoubtedly, a backyard is an invaluable component of a Florida rental property and it positively influences its value. However, it helps to understand the difference between creating your dream backyard and a simple and functional backyard.
The two obvious benefits of a dream backyard in a Miramar rental property are that it can maximize your rental rates and also increase a property’s value. Something a simple backyard probably cannot, but going down that route, has its benefits. Perhaps, rather than installing the yard of your dreams in your Miramar rental property, creating an attractive, low-maintenance yard is more workable. For one thing, a simple and functional backyard appeals to renters because it is easy for them to maintain. And it comes in at a much lower cost as well.
One of the more common mistakes a property owner makes is going overboard on the landscaping. As a rule of thumb, landscaping costs should not exceed ten percent of a property’s overall value. And unless there is a genuine and visible benefit to doing so, you don’t even need to go that high. One of the common misconceptions is that a Florida house with an extensively landscaped yard will generate significantly higher extra rent. However, realistically speaking, overdoing the landscaping can potentially drive renters away because of the additional maintenance and cost involved.
Do’s And Don’ts When Considering A Dream Backyard
To make your property attractive and profitable, aim for backyard upgrades that offer the highest returns for the cost. Sometimes, the best action for an inviting backyard does not require an upgrade, but rather just focusing on improving the quality of what’s already present. A green, neatly trimmed lawn and well-cared-for greenery will add instant appeal and easily 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 speediest approaches to get your property’s backyard living up to its potential.
Outdoor lighting, water features, and outdoor gathering spaces are some other relatively affordable backyard upgrades, you can consider. Give the lavish planter beds filled with flowers a pass, and consider upgrading your rental yard with outdoor furniture instead. Go for low-maintenance furniture that renters can use for get-togethers and evening parties. Adding a simple patio (or deck) may appear like a luxury upgrade initially, but with a ready-made space for a gathering with family and friends, your rental property is set to rate higher than other properties missing these elements.
Outdoor lighting is another budget-friendly backyard upgrade you can consider, with practical rewards. Most tenants fancy the added security and advantage of backyard lighting features. Motion-sensing lights and energy-efficient outdoor lighting fixtures complement the appeal of your outdoor gathering spaces in your Miramar rental property, adding to its curb appeal after dark.
How We Can Help?
Regardless of which improvements you choose to enhance your Miramar rental property’s backyard, knowing which ones will offer the highest return for your money is most important. Investment in quality outdoor features with a low-maintenance design, like a simple and functional backyard, helps to attract the right kind of tenants, all the while growing your property’s values. At Real Property Management Premier, we can guide you to plan the right backyard for your Miramar rental property. One that renters will appreciate, and at the same time extract the best value for every dollar spent, through consistent rent increases, over time.
Contact us or call us at 954-362-5235 for more information.
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