While people have always enjoyed playing and relaxing outside, the pandemic sparked a greater longing for well-situated outdoor living spaces. As vacation and travel plans were postponed in favor of staying close to home, the focus turned to enjoying the outdoors. Those who transitioned to work-from-home welcomed outside living space as well. This pining for spending time outside is expected to continue as part of the new normal.
So, it makes sense that rental property owners should take note of their rental unit’s outdoor living spaces—or the lack thereof—to both draw potential tenants as well as increase the value of their property.
The key is to remember that outdoor living space is about more than just furniture. Placing a couple of lawn chairs in the backyard does not transform the backyard into a living space. So, let’s look at some specific ways that will enhance the outdoor living experience at your rental properties.
Landscaping
If dull and lifeless describe the property’s outside space, it will neither attract tenants nor do anything positive for its value. Consider adding flowers, shrubs, trees, possibly a natural walkway or two, and tending to the lawn. A visibly appealing space will make spending time outdoors so much more enjoyable.
Firepit
One of the top trends in outdoor living is a fire pit, where family and friends can gather, in some locales, nearly year-round. Whether you construct one or go the prefab route, a fire pit will see to it that those simple outdoor lawn chairs take on new meaning.
Backyard Patio
Many people look for a patio when searching for a home, making patios a valuable upgrade to consider for your property. They make a property feel larger, roomier, and as if the interior space includes an extra room. Prospective tenants envision the family hanging out, bonding, and enjoying a meal from the grill. And the ROI on patios can be up to 100%.
Wooden Deck
Some properties are better suited to a deck. Again, an excellent place to enjoy nature, relax and spend time with family and friends. Decks make great “spillover space” when entertaining. And they provide a handy place for potted plants, summer flower arrangements, and container gardening.
Privacy measures
Make the outdoor living spaces even more relaxing with some thought to privacy measures. The more folks are outside, the more they appreciate a bit of privacy from the neighbors or the street. Consider planting small trees or large landscaping plants to create a more private setting. You can also strategically place a fence or decorative screens to add a more intimate feel to the outdoor living spaces.
Before embarking on any outdoor-living-space projects, consider—
- How the improvements will impact the current value of the property.
- Whether your budget fits the size of the project.
- If the size of the proposed outdoor living space features is in balance with the yard’s structure and size.
- What city ordinances may apply to the project.
Well-thought-out additions and improvements to your rental property’s outdoor living space can pay dividends for years to come.
Rentals America offers professional services and insight to rental property investors. Contact us today.
About Rentals America
Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management and we’re here to help landlords navigate the rental market.
