When allocating funds as an HOA property manager or board member, there is a tremendous emphasis on ensuring those resources are utilized in the best interests of your community. This means choosing projects that offer a strong return on investment (ROI). In other words, you want any outgoing money to pay dividends back to the community, whether that’s in the form of functionality, safety, aesthetics, or some other benefit.

Unless you’ve secretly won the lottery and made it your purpose to bless your HOA community with the winnings, you likely have a limited budget. You have to be selective with your spending and determine what is worth the investment. For many HOA properties, landscaping is an area of potential expense and possible upgrades, making it all the more important to wisely allocate funds to that facet of your community.

Is Landscaping a Good ROI?

Before you rush out and add that new dog park or upgrade your HOA sprinkler system, it’s essential to evaluate the return on investment landscaping projects can provide. Analyzing each project to determine what the expense will be, the potential return on that cost, and the other ways the money could be spent is a must.

The good news is that when effective HOA landscaping upgrades are properly budgeted, they can significantly benefit the community while providing a stellar ROI.

Prioritize Projects that Add Value

When evaluating potential landscaping projects, one of the key considerations is weighing how much potential value the project will add to the HOA property. Modernizing an irrigation system might add tremendous value, translating to a high HOA landscaping ROI. On the other hand, some projects may add little to no value, making them a less compelling option to allocate resources to.

This dynamic does not mean that those less valuable projects don’t have a place in your HOA budget or that they never get done; instead, it simply means that they are a lower priority than projects that promise a significant increase in property value. You can still do them, and your community can still benefit from them; they might just be deferred until priority projects are complete and there is flexibility in the budget.

Think of Value Differently

While no one will complain about increased property value in terms of dollar amounts, there are more ways to measure value than money. When determining the return on investment landscaping projects can provide, it is vital to consider the non-monetary return they can offer. Sometimes, these benefits can be just as compelling–if not more so–than their financial counterpart.

For example, effective HOA landscaping upgrades can include projects that add amenities, functionality, safety, and beauty to the property. While these elements might not directly translate to monetary value, they can be significant boons to residents in the community, as well as visitors and prospective buyers. Remember, an HOA community should benefit the people who live in it every day–their experience matters, and a return on investment may simply be an improvement to their standard of living.

Example of Projects with High HOA Landscaping ROI

Every HOA community is different, so it’s wise to treat yours as the unique property that it is. However, there are some landscaping projects that have traditionally provided a high ROI, making them worth consideration when evaluating your property and budget.

• Maximize curb appeal. First impressions are incredibly important, and your HOA community’s curb appeal goes a long way toward making a positive impact on anyone passing by. Not only is the visual appeal a warm welcome to residents, but it also influences public perception of your property. A strong curb appeal can actually dramatically increase the value of your property, making this first impression something to prioritize. Focus on consistency, attractive colors, interesting textures, and clear signage while keeping everything tidy and well-maintained.
• Think long-term when selecting plants and landscaping elements. While some seasonal displays can add a vibrant pop of color and excitement to an HOA community, the majority of the landscaping should strike a balance between aesthetic beauty and low-maintenance longevity. Dealing with high-maintenance plants and frequently replacing failing landscaping elements can quickly drain your budget, negatively impacting your ROI.
• Smart irrigation is a game-changer, especially in the Sunshine State. Make no mistake, the upfront cost can be substantial, but the investment is worth it when considering the ROI. Not only does smart irrigation help your landscape thrive through all seasons, but it also saves you money in the long run by reducing water usage, ensuring plants receive the right amount of water in a timely manner, and simplifying maintenance. In the end, that steep upfront cost translates into one of the most effective HOA landscaping upgrades.
• Thinking beyond plants when asking is landscaping a good ROI. Your HOA community requires thoughtful, well-implemented, and well-maintained landscaping elements that include things like walkways, lighting, entrances, and public spaces. While these aspects of your HOA property might not sprout leaves, they are nonetheless essential parts of your landscaping. Giving them the attention and budget they require to perform their roles with excellence is just as important as selecting the right type of palm tree.

Maintenance Makes All the Difference

Once you’ve made an investment, your attention should shift to fostering and protecting it. You want to ensure that the resources you’ve invested make a positive impact not only initially but also in the years to come. That requires a plan and commitment to maintenance. It’s the only way to realize the full return on investment landscaping projects.

While this principle is true of most investments, it is particularly valid in landscaping. If not properly cared for, irrigation systems will fail, walkways will deteriorate, and plants will die. HOA landscaping ROI relies predominantly on how well the elements populating your property are maintained, meaning that thinking long-term and emphasizing maintenance makes all the difference.

Work with an HOA Landscaping Service in Tampa, FL

As property manager or HOA board member, you shoulder much of the responsibility for wisely allocating funds to things that will bring a return on investment to your community. That said, there’s only the slimmest of chances that you’re a landscaping expert. As such, it’s a good idea to work with a trustworthy local HOA landscaping company to determine what your property needs and which projects could bring the greatest ROI to your community.

Landcrafters is an exceptional example of an HOA landscaping service in Tampa Bay and the surrounding areas. With over 20 years of experience, Landcrafters has a proven record of helping HOA communities turn their landscaping dreams into reality. Whether you need to invest in effective HOA landscaping upgrades or want a partnership with a team of passionate experts that will maintain your property to perfection, Landcrafters is ready to assist.

We encourage you to give us a call to discuss your HOA property and potential projects. You can also head over to our website, where you’ll find more information and a blog that we update frequently with free tips, tricks, and landscaping insights we’ve accumulated over the last few decades.