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How Outdoor Living Spaces Can Increase Your Rental Income

How Outdoor Living Spaces Can Increase Your Rental Income | CityRealtor
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If you’re a landlord in Tower Hamlets, you’re probably always looking for ways to increase your rental income while ensuring your property stands out in a competitive market. Many landlords focus on interior upgrades, but outdoor living spaces can be just as impactful – if not more so.

Did you know that a well-maintained garden, patio, or balcony can significantly enhance the tenant experience, making your property more desirable and justifying a higher rental price?

At City Realtor, we’ve seen firsthand how outdoor improvements can help our landlords attract quality tenants, reduce void periods, and command higher rents. So, if you’re looking for a cost-effective way to boost your rental income, investing in your property’s outdoor space could be the solution.

Why Outdoor Living Spaces Matter for Landlords

When tenants search for property to rent in Tower Hamlets, many prioritise outdoor areas, particularly those with private gardens, balconies, or even a small courtyard area. The ability to enjoy fresh air is important, especially as more people now work from home and are seeking additional outdoor spaces for relaxation.

Outdoor Living Spaces Attract Renters

Providing a well-designed outdoor area can make your rental property in Tower Hamlets more appealing to a wider range of tenants, including professionals who enjoy socialising outdoors, families looking for safe play areas, and pet owners in need of secure outdoor space. Properties with attractive gardens can often demand a higher rental price than those without, making outdoor improvements a worthwhile investment.

Tips for Maximising Outdoor Appeal:

You Can Extend Living Space Without Planning Permission

One of the key benefits of investing in outdoor areas is that you can effectively expand the living space of your property without needing to build extensions or get planning permission. Even a small outdoor improvement can make a rental property feel larger and more accommodating.

A simple patio or decking area can serve as an outdoor dining space, while a covered pergola or awning allows tenants to enjoy the area all year round, even in our unpredictable British weather! Adding a garden studio or summer house can create extra storage space or a dedicated workspace, which is particularly appealing to tenants who work remotely.

This additional functional space can make your property more desirable and justify an increase in rental value, particularly in areas where outdoor space is limited.

Tenants May Stay Longer – Reducing Void Periods

Void periods are one of the biggest concerns for landlords, as they lead to lost rental income and increased costs for property upkeep. A well-designed outdoor space can encourage tenants to stay longer, reducing turnover and the associated costs of finding new tenants.

Why Do Tenants Stay Longer?

Investing in an attractive outdoor area can help ensure long-term tenancies, providing landlords with a more stable and predictable rental income.

Outdoor Features: How to Target The Right Tenants

Tenants value outdoor spaces in various ways. So, by tailoring your outdoor improvements to suit your target market, you can increase the appeal of your rental property in Tower Hamlets and attract tenants willing to pay a premium for specific features.

Ideal Tenant Groups for Outdoor Spaces:

If you’re marketing your property to let in Tower Hamlets, be sure to highlight the outdoor features in your property listing to attract the right tenants.

Boosting Kerb Appeal for Faster Lettings

First impressions are crucial for your property to let in Tower Hamlets. A well-maintained front garden or driveway can significantly impact tenant interest, making your rental feel welcoming and well-cared-for from the outset.

4 Simple Ways to Improve Kerb Appeal:

As an experienced letting agent in Tower Hamlets, we recommend ensuring that your property looks inviting to attract high-quality tenants quickly.

Increasing Rental Value with Simple Outdoor Upgrades

A well-designed outdoor space can lead to a significant increase in rental income. For example:

Outdoor FeatureEstimated Cost (£)Potential Rent Increase (£/month)
Patio/Decking£1,500 – £3,000£50 – £100
Artificial Grass£1,000 – £2,500£30 – £70
Garden Studio/Office£5,000 – £15,000£150 – £300
Outdoor Seating & Firepit£500 – £2,000£20 – £50

*Zoopla / Checkatrade / Homebuilding & Renovating

Please note that these figures are approximate and can vary based on factors such as location, materials used, and your specific property characteristics. While costs vary, even minor upgrades can help landlords justify a rent increase and improve overall tenant satisfaction.

Are You Ready to Enhance Your Property to Rent in Tower Hamlets?

At City Realtor, we specialise in helping landlords maximise their rental income. Whether you’re looking for expert advice, full property management in Tower Hamlets, or help in finding the right tenants, our experienced team is here to help.

Call us today on 0207 790 7702
Email us at admin@cityrealtor.co.uk

Let us help you make your property work harder for you!

In the meantime, we’ve answered some of your common questions about rental properties with outdoor spaces.

FAQs

Do tenants really pay more for outdoor space?

Yes, many tenants prioritise properties with outdoor areas and are willing to pay extra for well-designed gardens, patios, or balconies.

What are the best low-maintenance outdoor features for rentals?

Artificial grass, gravel, and decking are excellent choices as they require minimal upkeep.

Can I charge more rent if I add a garden office?

Yes, properties with home office space are in high demand, particularly among remote workers.

What’s the best way to market outdoor spaces in my property listing?

High-quality photos and detailed descriptions of outdoor features will attract more tenant interest.

Can outdoor improvements reduce my property’s void periods?

Yes, a well-maintained outdoor space encourages longer tenancies, reducing the risk of vacancies.

What Next?

Would you like tailored advice on improving your rental property? Let City Realtor take the stress out of renting your property. Whether you’re looking to get a valuation and let your property in Tower Hamlets or need professional management, we’re here to help. Call us on 0207 790 7702 or email admin@cityrealtor.co.uk today!

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