The Benefits of Gardens for Landlords. How to Use your Outdoor Space to Increase Rental Yield

There’s good news about gardens. Ted McKechnie, Negotiator at Clarity Property Management offers some advice to landlords and would-be landlords lucky enough to have properties with outside spaces. Are YOU making the most of yours in a competitive rental market?

In this month’s blog, we’re all about gardens.

Big or small, everyone loves a garden, don’t they?

It’s your own outdoor space. Fresh air, and a place to relax and impress your friends with your finely honed BBQ skills on warm, sunny afternoons during the summer and early autumn; even an area to grow fruit and vegetables, and win the war on weeds. Yes, it seems that the inexplicable, yet compelling satisfaction of gardening comes to us all eventually.

And, judging from some of the gardens we’ve seen in and around Brighton and Hove, some people are impressively green fingered. Others, perhaps not so much.

Are you a Property Owner Sitting on the (Garden) Fence?

It goes without saying that renters adore their gardens just as much as property owners do.

A separate external area is to be enjoyed, whether it officially belongs to you or not. If you’re a landlord, or a potential landlord who fits the bill, it’s well worth getting in touch with us. Why? Because not to put too fine a point on it, whether you have a small patio or a substantial green plot stretching back several metres, you have the Allure. 

The allure of an extra “outside room”, that is.

For families with children, a good-sized garden offers plenty of freedom for the little ones to run around in safety, and to have lots of fun. For couples, a civilised glass of wine on the patio to watch the sun go down after a busy day is a compelling draw. Yes, properties with gardens really do add another dimension. Without a doubt, once they come onto our books, they don’t hang around for long.  

Plus, there’s something to tell you about yields:

Anecdotally, in my role as Negotiator at Clarity, I can report that we’re seeing an uplift of about 10% on rental income with houses and flats with versus without a garden.

The Post-Covid Garden Rescue

Another point to consider are the knock-on effects of the Covid pandemic on the rental market.

Here at Clarity, we experienced a dramatic increase in demand for properties with gardens during 2020. On reflection, this wasn’t surprising, not least due to the draconian curbs on our freedom, and the resulting impact on our health and wellbeing during lockdown. What we took for granted was taken away, practically overnight. Everyone felt restricted. Stifled, even.

This new surge in popularity has become the norm.  Properties with gardens remain de rigeur, supported by evidence of people moving down to the south coast for a better work-life balance. Further explanation could lie in legislation announced by the government back in January this year. The new Model Tenancy Agreement allows responsible tenants with well-behaved pets to secure leases more easily:

https://www.gov.uk/government/publications/model-agreement-for-a-shorthold-assured-tenancy

Most domestic animals prefer the outdoors – and a secure, private garden is just the thing.

The Tenancy Agreement

If you’re a property owner with a garden, as experienced rental agents we’ll be advising your tenants of the following:

– In general, it will be the responsibility of the person renting your property to keep the garden in a reasonable condition, to ensure that it’s litter free and not overgrown. In effect, the garden will need to be in the same state at the end of the tenancy, as at the beginning.

– For example, they’ll be obliged to mow the lawn and keep the hedges trimmed, also to keep any concreted areas in a good state – and again, not to allow weeds to poke through too much. It’s outstanding how nature finds a way, but regular maintenance is the key to a dignified garden.

– Parties and gatherings are allowed, but the same stipulation applies outdoors as indoors about noise, damage or nuisance after 11.00am and before 7.00am. This focus is on being aware of one’s neighbours, and in a densely populated urban environment such as Brighton & Hove, being community spirited.

– You don’t have to provide garden equipment – that will be your tenants’ concern.

Some Get Ahead Tips to Prepare Your Garden

There’s a bit of work to do, however.

1. Know your market.

If you’re renting to students, they may not want to spend a lot of their time gardening. So, make the space as low maintenance as you can, with less lawn and fewer flower beds. A couple or a family may appreciate a larger green space, however – or even a patio.

There’s no need to spend a great deal of money. You may think otherwise, but expensive decorative features may not help to increase your rental income, and could get damaged.

2. Safety First

Without a doubt, the safety and security of your tenants is paramount. Don’t forget the gates, boundaries and fences. Making sure that these are in a good, solid condition sends the right message to potential tenants, and ensures that you remain compliant in your obligations to them.

3. Do Some Basic Maintenance

Before you rent out your property, a bit of elbow grease may be required to get everything lickety spit for applicants to view it. Weeding and mowing the lawn are essential, of course. For a belt and braces job, trim back the bushes and clear away any broken branches or any other garden debris that may have found its way out there. You could even employ a landscape gardener to get it into the best shape of its life.

Some landlords prefer to take on a gardener on a regular basis, so do consider this if you think it would be a good return on investment.

As you can see, properties with gardens are the new black – if you see what we mean! In our opinion, this added value element will continue to be exceptionally marketable. The good news is that our experience is your gain.

We’ve advised many landlords on all sizes and types of properties, so do feel free to get in touch on 01273 253 000.

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