In the bustling property market, landlords continually seek ways to enhance their rental offerings, making them more appealing to tenants while simultaneously increasing the property’s value. Recently, I sat down with Oliver Saunders, an experienced landlord based in the South of England, who shared his journey of transforming his rental properties, with a particular focus on creating attractive outdoor spaces. His insights offer valuable lessons for fellow landlords looking to maximise their investments.
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Oliver Saunders has been in the rental business for over a decade, managing a handful of properties scattered across the scenic counties of Surrey and Hampshire. Despite his extensive experience, Oliver recently embarked on a renovation journey, inspired by the increasing tenant demand for outdoor living spaces.
“It all started with a conversation I had with a tenant last summer,” Oliver recalls. “They mentioned how much they missed having a garden to relax in after a long day. That got me thinking about the potential I had right under my nose.”
The Outdoor Transformation
One of Oliver’s properties, a modest two-bedroom cottage with a neglected garden, became his first project. “The garden was just an overgrown patch of grass,” he admitted with a chuckle. “I knew I had to create something inviting and functional.”
With a clear vision in mind, Oliver hired a local landscaper to help bring his ideas to life. “We decided on a mix of decking and paving,” he explained. “The decked area became an instant hit – it was the perfect spot for tenants to place outdoor furniture and enjoy the summer evenings.”
The transformation did not stop there. Oliver added raised flower beds filled with low-maintenance plants and installed a small water feature. “The idea was to create a retreat,” Oliver said. “Somewhere tenants could unwind without having to worry about too much upkeep.”
More Than Just Aesthetics
While the visual appeal of the garden was undeniable, Oliver was keen on ensuring the outdoor space was practical. “I noticed tenants often struggle with storage, especially for bikes and gardening tools,” he shared. To address this, he installed a sturdy, lockable shed at the far end of the garden. “It’s secure and gives tenants peace of mind when storing their belongings.”
Moreover, Oliver was mindful of the environmental aspect. “With the changes in energy efficiency standards looming, I thought it was prudent to incorporate sustainable elements,” he said. Solar lights now pepper the garden, providing an eco-friendly lighting solution.
The Impact on Rental and Property Value
The results of these outdoor renovations were almost immediate. “The property’s rental value increased by around 10%,” Oliver revealed with a satisfied smile. “What’s more, I noticed a significant uptick in interest from prospective tenants.”
For Oliver, the investment was not just about immediate returns. “It’s also about future-proofing,” he explained. “By enhancing the garden, I increased the property’s capital value. Should I decide to sell in the future, these improvements will certainly add to its appeal.”
Lessons Learned
Reflecting on his experience, Oliver shared several key takeaways for fellow landlords:
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Understand Your Market: “Knowing what your tenants want is crucial. An outdoor space is increasingly becoming a must-have for many.”
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Balancing Aesthetics and Functionality: “It’s important to create a space that’s not only beautiful but also practical. Tenants appreciate a garden that’s easy to maintain.”
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Long-term Thinking: “Consider how your improvements will affect your property’s value in the long run. Sometimes, a little investment now can yield significant returns later.”
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Sustainability Matters: “Incorporating eco-friendly elements can not only cut energy costs but also attract environmentally-conscious tenants.”
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Adapt and Evolve: “The rental market is always changing. Staying attuned to trends and tenant preferences ensures your properties remain competitive.”
As the conversation drew to a close, Oliver emphasised the importance of taking that first step. “Don’t be afraid to invest in your properties,” he urged. “Creating an inviting outdoor space has been one of the best decisions I’ve made as a landlord. It’s a win-win for both me and my tenants.”
For landlords like Oliver Saunders, the key to unlocking a property’s potential lies not just within its walls, but in the often-overlooked outdoor spaces too. By transforming these areas into appealing retreats, landlords can significantly boost their property’s value and appeal, reaping rewards for years to come.
Diana Tahjmir
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