Owning a rental property is a great investment, especially when you are able to keep your vacancies to a minimum by working with your tenants to find a renter before they leave. While this will maximize your profits, you also have the ability to increase rent over time, naturally bringing you in more money. If you would like to invest in another method that helps you improve the property and increase its rental value, you should grow low-maintenance trees, which you can do at any time without disturbing tenants.
Avoid Making the Tenants Responsible
While native plants and trees are typically the ones that require the least maintenance, you can still find non-native trees that fall into this category, such as the Kousa dogwood, Black tupelo, and White Fringetree. When you first put them in, you do not want to put this responsibility on any tenants that live there. The best thing to do is set up an irrigation system or alter the one you have to water the trees. It is also possible to make a stop there every day or every other day to water the trees yourself while in their youth.
Increase the Value of the Property
By planting trees in general, you will increase the value of the property, which will in turn help you increase your rent. It can take a while for trees to grow to the point of producing these results, but it is an inexpensive venture to buy seedlings or saplings and nurture them until they do. A potential $1,000 to $10,000 value increase is not something to underestimate with such a small investment cost.
Get Future Shade Coverage
Over time, as your trees grow, they will begin to provide more shade to the property. It can help you create an outdoor living space that naturally obtains shade from the trees, as opposed to needing a pergola. This kind of addition will only make your rental property more appealing to renters. Eventually, the trees will shade the walls, windows, and doors of your home, which will lead to lower energy costs. Whether you or the tenant pays the utility bill, one of you will be happy with the results.
Minimize Chance of Failure
By opting for low-maintenance trees in the first place, you are making sure that the chance of failing is kept low, which is a good rule to follow for anything related to your rental property investment.
If you want to improve your rental property with minimal spending, trees are the way to go. Contact a local outlet, such as Green Shadow Tree Service LLC, for further assistance.