Apartments not only require cleaning and upkeep between residents, they should also be renovated when needed. Not only will it keep apartments looking nice, renovations will attract better applicants and give the property owner the ability to raise rent.
While interior renovations are what most people think of, exterior renovations also make a huge difference. The first thing any potential renter views is the outside of the building, the parking lot, and everything surrounding it. If this looks dreary and unkempt, they will have a lesser opinion before even entering the building.
Some exterior renovations that might need to be made are:
Concentrating on interior renovations, kitchens and bathrooms are probably the most important. Just like in houses, these are two renovations projects that could help to increase what the owner can charge. Here are things to focus on during interior renovations:
- Laundry facility
- Painting Walls
- Ceiling fans
Having updated kitchen appliances can have a huge impact on potential renters. They don’t need to be too fancy, depending on the neighborhood, but should be in working order and look like new. Bathrooms can tend to get dirty fast. Stained showers, bathtubs, and sinks can turn renters off. Having the bathroom fixtures refinished or replaced can make a difference.
What property owners put into apartment renovations, they will get back through rent increases and more promising tenants. The nicer the apartment and higher the rent, the more bad applicants get filtered out.
Building Resources Inc. has years of experience renovating apartment buildings and multi-family housing. They understand the importance of a timeline when it comes to these projects, as well as budget. Building Resources Inc. works to provide personalized services at an affordable price, making them a great choice for apartment building renovation projects.