The warmer seasons of the year are the perfect time to upgrade the exterior of your rental properties. From tips on landscaping planning, outdoor amenities, to a fresh coat of paint, these improvements can add value to your rental while making your current tenants feel more at home. This roundup offers practical tips for landlords and property managers alike who are ready to boost the exterior of the rental properties in their portfolio.
Spring and summer mean there’s no better time to focus on the exterior of your rental properties. From landscaping to outdoor amenities and beyond, there are many ways to improve your property’s ROI and your tenants’ enjoyment of the space.
Whether you are a weekend warrior managing a single-family home or you are a property manager with a large portfolio of rental properties, there are ideas everyone can implement in this exterior upgrades roundup.
Upgrade With New Outdoor Amenities At Your Rental Property
All amenities contribute to tenant satisfaction, but outdoor amenities do more than improve your current tenant experience; they serve to boost your curb appeal and act as passive advertising for your property. Today’s renters are looking for rentals that offer places to enjoy beyond their apartment, like outdoor “extras” that are now becoming the norm.
Creating outdoor spaces that accommodate your tenants can serve to:
- Foster a sense of community
- Provide a mental health outlet for tenants
- Attract more tenants
- Improve lease renewal rates
From simple upgrades like outdoor lounge areas, to higher-investment features such as playgrounds or swimming pools, there’s no doubt that thoughtful care should be taken when approaching your outdoor space’s possibilities. Knowing your tenants and your budget can ensure a great ROI when adding new perks to your property.
Learn more: Outdoor Amenity Ideas For Your Rental Property
Upgrade Your Rental Property Landscaping Plans:
An appealing rental property requires good curb appeal, which often means great landscaping. However, it’s more complicated than simply picking a few popular foliage items and planting them outside. Great landscaping and a visually appealing property exterior require thoughtful planning.
Since landscaping can be low-maintenance or can require a good deal of care, it’s vital to fully grasp your budget and your long-term desires for maintenance levels when it comes to the property’s yard.
When planning your ideal landscaping at your rental property, there are a few key points to consider:
- Verify your maintenance ideals
- Reflect your brand and meet the needs of your tenants
- Use your landscaping as an opportunity to add value or amenities
Learn more: Landscaping Planning Tips for Your Rental Property
Update Your Exterior Paint:
Curb appeal is not limited to the yard surrounding your property, but also the exterior of your unit itself. If the rental is grungy or faded, you certainly are not putting your rental’s best foot forward. Additionally, your paint serves an important role in protecting your property’s exterior from damage. According to Heiler Painting, your exterior paint plays “a critical role in protecting home exterior surfaces from moisture, UV rays, and temperature fluctuations,” meaning investing in a paint service can save you on costly repairs down the road.
Are you wondering when the ideal time is to replace your paint? While your exterior paint’s life expectancy will greatly depend on your brand, landlords and owners should expect to repaint approximately every 5-7 years, your climate and property’s sun exposure can also play a role.
Remember that accent colors like trims and doors may need a retouch sooner to ensure your property looks fresh. Freshening the paint on your rental’s exterior trim, shutters, and front door, can easily modernize and liven up the exterior of that needs just a refresh or extra visual interest. Any property will benefit from enhanced curb appeal through a fresh coat of paint, but for a single-family rental property, a fresh coat of paint on the front door can have big ROI. Zillow found that homes with slate blue or black front doors can sell for as much as 6,449 more, making the front door a key area of interest when it comes to small projects with significant returns.
Learn more: Home Value Mini-Projects for Landlords