If you are a Philadelphia Landlord, and own a rental property, you are one of our city's greatest investors. You are investing Philadelphia.
And as an investor, we need to talk about numbers. And today I want to give my opinion as someone who has owned a Philadelphia Property Management Service for some years on the value of trees.
Specifically, will a tree increase value? Will rents increase on your rental property far higher than the cost of the tree?
A very simple answer is yes.
It is generally considered in the real estate world that a tree can increase a property's value as much as 20%.
A tree in Front of a Rental Property offers:
- Increases Property Appraisal Value. An inexpensive tree will greatly increase the value a bank places on your property.
- Greatly Increases Rents. Increase curb appeal and you increase rents. Most potential tenants decide on whether they like a rental as they are walking into a property.
- Increases Neighboring Property Values & Rents. A tree increases the values for the whole block, which benefits you. The more a neighbor's house is worth the more your's is worth.
- Reduction in Utility Bills. Trees provide shade against summer AC bills and even a tree that loses its leaves in winter, can still greatly insulate against cold. Reducing tenant expenses makes your rental more likely to stay rented.
- Trees Block Harmful UV Rays. The sun and its heat can be quite damaging. It prematurely ages your property. Blocking it, even a little is important.
And they are great for our environment!
Don't waste time worrying about your property. We fret about values of things like trees for you!