First
impressions matter immensely, thus a property owner should never neglect their
investment property’s landscaping. A
real estate agent who is getting a property ready for sale spends time, energy
and effort making the most of a property’s curb appeal to entice a potential
buyer to buy for the highest possible price.
A rule of thumb is that a realtor who invests $1 dollar of curb appeal
improvements will gain their clients $3 of return at close of escrow. In the same vein, a property manager should
counsel his clients to invest some time, energy and effort in sprucing up their
rental property exterior landscaping to help attract more potential renters or
keep the ones they have. The art of
providing just enough curb appeal, just the right balance of attractive
landscaping, while maintaining a fixed maintenance budget can be achieved
through education, experience, and common sense. Experienced property managers should be able
to put together a plan for their owners at no additional expense.
Long Term Landscaping Planning for
Your Portfolio of Properties is Key
An
experienced property manager can and will help their clients improve their
exterior landscapes with just the right balance of attractive components while
not breaking the bank. A proper mix will
help the owner keep the property rented, while at the same time reduce the
monthly maintenance of the property, which in turn reduces costs. For example, although lush, cool, beautifully
manicured green grass is very attractive, the cost of installing and
maintaining the grass is not as cost effective as keeping a small patch of
grass with other drought resistant groundscape like gravel, bark, mulch and
wood chips. These other ground cover
alternatives also help keep moisture in the ground to reduce water consumption. An experienced property manager can evaluate
and help an owner make some design changes to improve aesthetics and reduce
maintenance costs.
Trees, Trees, and More Trees
Other than
the property’s building a well-thought out scattering of trees are by far the
most valuable asset a property exterior can have. Mature, gorgeous, and sky-reaching trees can
also help reduce cooling costs for a rental property which in turn makes the
property more attractive to rent. If
your investment property lacks trees consider having an arborist or landscape
architect suggest some different species of trees and locations to plant them
on the property to maximize their possible benefits.
Seven (7) Ideas for Low-Cost
Landscaping
When you
have an opportunity you should get together with your property manager and try
to implement a long-term plan for landscaping improvement and maintenance with
the goal being to improve aesthetics and reduce maintenance costs. The following list includes some low-cost
ideas to think about and brainstorm with your property manager:
11) City Tree Program – Some cities and towns actually give away trees for property owners as
long as the owner follows certain guidelines;
22) Look for Sales
– Wait until the end of the growing season to go shopping for trees, shrubs,
soil and mulch because the retailers that didn’t sell all their inventory will
be looking to get rid of these items at a discount;
33) Demolished Buildings – Look around your neighborhood for demolition sites as there are often
free bricks or other building materials which can be used in your landscaping
designs;
44) Work Your Existing Plants – Educate yourself to help keep and shape the trees and
shrubs you already have to give them new life and vitality, or even relocate
them.
55) Buy Small –
Buy smaller sized plants, shrubs, and trees which will be less than larger
ones.
66) Make Your Own Compost – You can easily build and maintain a composter on your rental property
where you or your gardener deposits all of the grounds clippings, waste, and
leaves. This compost will eventually
produce fertilizer which is one more thing you won’t have to purchase.
77) Use Drought Resistant Plants – Not only is water scarce, but it is getting more expensive
on a monthly basis, so a collection of drought resistant plants is important
for long-term maintenance cost reduction.
Be Patient and Watch Your Property
Exterior Improve
When you
have slowly but surely implemented a long-term plan for exterior landscaping
improvement and maintenance your reward will be improved aesthetics, reduced
maintenance and reduced costs. More
importantly your investment property will be more attractive to potential
renters and those renters who do live there will not want to leave. Finally, the improvements and maintenance
expenses are fully tax deductible provided you and/or your property manager has
saved the receipts and properly recorded them.
Remember,
first impressions make a huge difference.
A property owner should get together and implement a plan with their
property manager and never neglect their investment property’s exterior
landscaping and overall appearance. If
your property manager is not making these types of suggestions maybe it is time
to begin looking for a new property manager.
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