When it comes to investing in real estate, landlords are always looking for ways to maximize their return on investment. One way to do this is by offering gardens for rental properties. Gardens can provide several advantages for landlords as well as tenants, making them an appealing option for both parties.
When considering having a garden in your rental property, it’s important to include a clause in the rental agreement that outlines Who Looks After the Garden in a Rental Property. This will ensure that both the landlord and tenant are clear on their responsibilities and help prevent any misunderstandings or disputes down the line.
But will tenants actually care about having access to a garden? Let’s take a closer look at the potential benefits of offering gardens in rental properties.
The Benefits of Gardens in Rental Properties
Gardens can provide many benefits to landlords and renters alike. Here are some of the key advantages that come with offering a garden as part of your rental property:
- Increased Rent
A garden can add value to a property and make it more attractive to potential renters, allowing you to charge higher rent. This means more money in your pocket! Properties with well-maintained gardens can be more attractive to potential tenants and may command higher rental rates.
- Improved Tenant Retention
Offering a garden gives tenants something extra that other properties may not have, which can help you retain good tenants for extended periods. A garden can provide a sense of community and connection, not just with nature but with everyone who can use this area to relax and unwind.
- Stress Relief & Community Building
Access to nature is known to reduce stress levels and promote relaxation, which is especially beneficial if your property is located in an urban area or near busy streets or highways. Additionally, gardens offer an opportunity for community building among neighbors as they share gardening tips and advice or work together on projects like landscaping or planting flowers or vegetables.
- Tax Breaks
Depending on the location and size of your rental property, you may be eligible for certain tax credits or deductions if you have a garden onsite. Check with your Property Manager whether garden costs are tax deducatable. This is one more way gardens can help you maximize your return on investment!
- Environmental Benefits
Finally, gardens offer environmental benefits such as improved air quality, increased biodiversity, reduced energy use (through shade trees), decreased water usage (through rainwater harvesting), and reduced pollution levels (from composting). These are all great reasons why landlords should consider offering gardens as part of their rental properties.
While having a garden in a rental property can have many benefits, there are also some drawbacks to consider. One of the main concerns is the added costs of maintaining the garden, including paying for water usage or a gardener if the tenant does not have the time or expertise to care for the garden themselves. Additionally, if the garden is not maintained properly, it could potentially become an eyesore and detract from the overall appearance of the property.
Takeaway
Tenants certainly do care about having access to a garden; in fact, having access to outdoor space has become increasingly important in recent years, particularly due to our fast-paced and busy lifestyles. Having access to a garden provides a quick and convenient way to connect with nature without the need to travel far. Investing in a garden for your rental property could prove very beneficial!
