Multi-Family properties can take advantage of various outdoor living space features. These include BBQ or picnic areas, Patios and balconies, and Community gardens. Each of these options has different benefits for residents.
Learn more about them and how they can benefit your properties. After reading this article, you will be well-equipped to choose the best outdoor living space for your property.
Adding features that encourage renters to keep their outdoor areas clean and clutter-free is also advisable. Furthermore, these features will ensure tenants invite visitors to their property, leading to free marketing for you.
Traditional designs for outdoor living spaces were uncommon decades ago. However, things have changed. Outdoor living rooms are becoming increasingly popular these days, and people are branching out in various ways with their exterior features. Undoubtedly, having an outside living area will provide you with many advantages.
Benefits of Outdoor Living Space Features
Multi-family properties with outdoor living space features can have a variety of benefits. For example, these living spaces can be used for entertainment or relaxation. In addition, outdoor living spaces can increase the property's resale value.
A swimming pool is a great outdoor living space feature. It not only provides an opportunity to relax, but it can also offer cardiovascular and resistance training benefits. This can make a multi-unit property even more attractive to potential buyers.
Additionally, the added value will hold over time. If you want to improve your property's value and make it more appealing to tenants, choose outdoor living features that are both aesthetically pleasing and functional. A well-designed outdoor space will increase your property's financial value by helping you retain tenants and generate a higher return on investment.
Another benefit of outdoor living space features is that they make a property feel like home. Many renters look for properties with outdoor spaces that allow them to relax and entertain. These spaces can be equipped with a barbecue grill or an outdoor kitchen.
Barbecue or picnic areas
Barbecue or picnic areas can be great additions to multi-family properties. They can improve the quality of life for residents. For example, adding a built-in gas barbecue to an existing pool area can enhance the overall experience of the community. Also, adding natural gas BBQ grills near a tennis court, bocce ball court, horseshoe pit, or volleyball area can increase the use of these outdoor areas.
Communal grilling and commercial barbecue areas are great ways to unite neighbors. The collaborative atmosphere creates a sense of community and improves the quality of life for everyone. Friends share resources and help one another. It also provides an opportunity to introduce new neighbors to one another.
Patios and balconies
Multi-family properties can benefit from balconies and patios that offer a range of features. These features include a vertical garden, upholstered seating and pillows, patio heaters, and ceiling fans. Adding a water feature to a balcony will also attract birds and increase the enjoyment of the space.
Besides enhancing the quality of tenants' lives, having an appealing outdoor living space can boost the value of your multi-family property. It is essential to design a beautiful, inviting outdoor space that appeals to your market segment and attracts a variety of renters.
Patios can serve as lovely, common areas for all residents of your apartment building to enjoy. At the same time, balconies promote a sense of privacy and belonging unique to each unit. The space can easily accommodate other community amenities as well.
Balconies and patios can be found in multi-family properties of all price ranges. They are available in multi-family properties, from low-income communities to luxury dwellings. Moreover, balconies are great for extended living and provide a place for working or socializing.
Community gardens
Community gardens are an excellent way to offer residents a place to spend time outside. You can create a community garden as a volunteer project or charge an annual membership fee.
If you decide to create a community garden, consider the benefits to your tenants and staff. According to a recent study by New York University, a community garden can increase property values by up to 9.5 percent in five years. To ensure a thriving community garden, develop a set of rules and policies to prevent potential problems.
Playgrounds
Playgrounds can enhance the outdoor living space of multi-family properties. They bring neighbors together, creating a sense of community and promoting health. Additionally, playgrounds can increase property value. Studies show that homes with a playground tend to have higher resale values than those without.
According to the National Apartment Association, properties with playgrounds are typically worth eight percent to twenty percent more than properties without them. They also encourage outdoor play and get parents out of the house.
When planning a playground, property owners must consider the size of the playground and the number of children who will use it. Ensure that the area is big enough to accommodate the children of all residents.
Also, consider the safety of the playground equipment. It should meet strict safety standards, with safety surfacing extending at least six feet beyond the equipment. It should also be situated in a location where drainage is good.
Bottomline
There are several advantages to expanding your living space into the great outdoors. It will add value to your house and provide a large return on your investment.
It'll also improve the appearance of your property. That's only the start of things. The benefits get even more interesting from there.
So if you're interested, we, at Green Earth, specialize in making sure that our landscape management services are the perfect fit for each of our clients. If you live in Maryland, New York, Virginia, or Washington D.C., please contact us today to provide an estimate and more information on how we can help take care of your landscaping needs.