Green Landscapes: Multifamily Building Owners’ Solution to Attract Tenants

landscaping around a multi-family residential areaTenants no longer just want a strategic location when choosing the right apartment project, as a survey showed that the immediate environment should also have sustainable landscaping designs for better living conditions.

In Mississippi, for instance, there are different commercial landscaping services in Hattiesburg and other locations where some companies offer a complete set of designs for multifamily residences. Property owners should know that potential tenants are more likely to choose a development with a great curb appeal.

Expert Opinion

A survey of landscape architects revealed that landscaping designs that use native plants rank as the most in-demand outdoor amenity among clients. Low-maintenance landscapes and flexible outdoor areas for yoga also rank among the popular choices for sustainable designs.

If you’re planning to build a mixed-use property, functional spaces for outdoor work will be a good option as well. Some experts said that outside offices might be the next trend in alternative workplaces since the introduction of coworking spaces.

Associated Costs

Those who think about the associated costs should consider the return on investment in their properties. A commercial property, such as a multifamily building, could have a 7% higher rental rate if it has a professional landscape design.

While it is quite costly to have landscaping in your property, you have the chance to recover up to 86% of the project’s cost after a resale of the property, according to the National Association of Realtors. On the other hand, those who maintain their landscapes regularly through standard care services are likely to recover 267% of the expenses after selling the property.

A sustainable landscaping design for multifamily development not only attracts more tenants but also enhances the value of the property. Outdoor areas have become just as important as interior spaces and building owners should be aware that this would continue to be a trend in the future.