Low-Cost Upgrades for Your Outdoor Space

Among urban apartments, not all backyards are created equal
Enhance your outdoor space with these low-cost, high-yield investments

Back in 2020, renters experienced their biggest moment of reckoning in decades. For the health and wellbeing of their families, millions were forced to rearrange their priorities and reconsider their living conditions amidst a deadly global pandemic.

It’s no surprise that during the height of New York City shutdowns, a PropertyNest survey found that 20.8% of residents craved more private outdoor living space.

Now, consider the fact that 17.7% of people preferred cheaper rents, and only 10.6% voted for more room inside their apartments. The majority of renters were also willing to overlook onsite laundry and natural lighting in favor of more al fresco living space.

So, what does this mean for property owners and managers heading into summer 2021? With urban locales on the rebound and lockdowns lifting, are renters still obsessing over terraces, patios, rooftop decks, courtyards, and backyards?

Simply put: yes.

Stepping outside the box

For years, multifamily investors have prioritized kitchens, bathrooms, and the number of bedrooms in their search for higher rents. While these sought-after amenities still draw attention, accessible outdoor living space is also highly desirable in the eyes of pandemic-era renters. In fact, top realtors say outdoor space is in ‘high demand.’

The good news is, investing in outdoor living is relatively cheap compared to finishing a bedroom, renovating a kitchen, or retiling a bathroom. On the downside, owners are limited by the amount of outdoor space available and must overcome a number of obstacles depending on location.

For instance, apartments in New York City are often plagued by dark alleyways, ungainly cement walls, slabs of concrete, and other lackluster scenery. You must have a creative eye to see the potential in an outdoor space, then execute a compelling makeover with beautiful greenery, attractive flooring, comfortable furniture, and all-weather décor.

Whether you’re dealing with a petite Juliet balcony or small patch of grass, Everest has plenty of low-cost upgrades that will instantly transform your property’s outdoor appeal. With a few improvements, you’ll be on your way to higher rents in no time.

From Eyesore to Outdoor Oasis in 5 Easy Steps

1. Go big on greenery

Instead of littering your space with a couple of small flowerpots, opt for large planters, window boxes, and barrels for maximum impact. The bigger the receptable, the larger the plant—and more opportunity to hide concrete and brick in the background.

Lush green foliage and colorful flowers create an inviting outdoor space. Best of all, there are tons of low-maintenance options that can survive in skyscraper shade including heucheras, hydrangeas, impatiens, begonias, foamflowers, boxwoods, and beyond.

2. Pave the way

In small, confined spaces, any kind of natural ground material is bound to create muddy puddles and messy debris during inclement weather. This is one reason why renters will forgo using their outdoor space for days and weeks on end.

Property owners can make their exterior living space more attractive by investing in decorative pavers or outdoor tiling. Then, cover any unattractive or unusable areas with pea gravel, shells, or similar low-maintenance filler. Materials can be layered right on top of existing dirt or grass, so there’s no need for expensive installation or masonry.

3. Say yes to synthetic grass

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Having flashbacks of your Grandpa’s itchy astro turf? There’s still a huge stigma attached to fake grass, but nowadays, the synthetic stuff is so much more convincing and—best of all—effortless to maintain. It also comes with numerous advantages when landscaping a multifamily property leased to multiple individuals.

For one, you don’t have to worry about feeding, seeding, watering, cutting, or stressing over damage or neglect. Not to mention, city dwellers often desire outdoor space for their young who may eventually dig up natural grass. Using artificial turf is an all-around win-win because it’s easy to clean and always green.

Don’t skimp on furniture

For frugal businesspeople, it’s difficult to invest in non-permanent upgrades. New countertops? Sure. Fresh coat of paint? Okay. But to spend money on outdoor furniture seems like an extra. Will patio furniture really make a difference? Actually, yes.

If you’re renting a unit with a small patio, terrace, or other modest space, you really have to sell the lifestyle. Most prospective tenants won’t be able to envision a ‘livable’ space when standing on a 10’ x 10’ patch of grass or decking. Fill it up with a cute bistro table set, and they’ll soon fall in love. Experts say wrought iron is the most durable and long-lasting, while collapsible or modular furniture offers space-saving convenience.

String up some lights

String patio lights are all the rage, and for very good reason. Any time people see the darling twinkle of a vintage Edison bulb, they can’t help but swoon. This low-maintenance upgrade is practical and pretty from a lighting standpoint.

Landlords love them because there’s no hardwiring or risk of fire. Families can enjoy safe, effective illumination in areas where permanent lighting might cost thousands of dollars to install and maintain. Patio lights also infuse a dark, scary outdoor space with instant charm and romance—a simple recipe for higher rents.

Everest says: fresh air is always free