“The grass is green, the shrubs are pruned, and no one complains about my property’s curb appeal. Why should I spend any more on my landscaping next year, than I did this year?"
When things are going well, it's easy to assume that your landscape budget is working for your property. But every year, your landscape budget could always use a closer look. Setting the annual budget amount without taking the time to evaluate your investment means that you could be leaving some big improvement opportunities on the table.
Here are 3 things to consider before you pencil in next year’s amount for landscaping in your property’s budget:
1. Has my property’s value increased this year because of my landscape’s appearance?
Yes. If your landscape presents well for residents, employees, and visitors, it is adding value. It may be hard to put an exact number to it, but your landscape’s appearance is a major contributor to your property's overall value.
What could you add to your landscape next year to make an even bigger impact? What if your commercial landscape contractor could work within you to add new plant material to update one of your amenity areas? What about designing a new annual flower display at your property’s entrance? An attractive landscape welcomes visitors to your property and adds real value to your community. Value that is reflected through higher property values in homeowner associations and through higher occupancy rates for commercial properties.
2. Can I make my life simpler by consolidating related services with one vendor?
Are you spending half your day tracking down contractors to deal with all the needs that your property has? One day there’s a plumbing emergency to attend to. The next, an AC unit goes out. Then there’s a problem with the security provider. If you’re using multiple vendors to care for your landscape’s different needs, you may be adding more work for yourself.
Professional landscape companies employ specialists with skills that extend beyond basic landscape maintenance services. Look for a contractor that uses an integrated approach, consolidating your landscape maintenance, irrigation, fertilization, and pest control. An integrated services provider saves not only time, but is often less expensive than using multiple contractors with single service offerings.
3. Are my property’s residents (or tenants) better off this year than last year?
While your title may be Property Manager, make no mistake about it, you are in the People business. Whether they are homeowners in a community association or tenants leasing office space, keeping them happy is job number one. Adding maintained green spaces to your property will positively impact the wellbeing of everyone, including you. People are increasingly looking for outdoor spaces in urban and suburban areas as a retreat from their digital lives. Taking care of people’s needs, as well as the property’s needs, will continue to set exceptional communities and commercial properties apart from average ones.
So, before you carry over last year’s budget amount, or think about reducing services, give an honest evaluation to the role your landscape really plays for your property.
Is it an asset that’s growing the value of your property, or is it just breaking even?
Landscaping is one of the easiest places to demonstrate return on investment for your property. Considering the three questions above will help determine what this year’s budget should include for your property’s landscape services.
Photo credit: minimography.com