The multifamily housing and student housing market is more competitive than ever. It is necessary to keep your community looking up to date and sharp, to attract quality renters who will take care of your property.
Construction, upgrades, and property improvements can get expensive. When upgrading your property, it is crucial to maximize your return, to helping you make the best decision, an experienced construction group will help make the best choices. Selecting the renovations and upgrades that have high returns.
There are a few things to consider
Know your market
It is important to do your homework. The property’s location, the nearby amenities, and the people who work in the surrounding area, will help dictate what features are right for your property. The last thing you want is to waste money on updates that don’t add value.
Not all communities need a bike room or dog walking area. Ask your current tenants what upgrades they would appreciate, look at what the newer properties in your target area are offering.
Make your property stand out
Differentiating your property from others should be a priority. Creating what your prospective tenants want, but unable to obtain elsewhere or not within their price range. This may be a larger bathroom, kitchen or even a walk in closet.
It could even be a unique service or common area with a resort like swimming pool. Giving your tenants the choice their own color palette, electrical outlet with USB ports, and high end appliances.
Amenities that build communities
Happier tenants stay longer, encouraging them to connect with each other through amenities. Using underutilizing or unused outdoor areas that could be converted to social gathering areas. Rooftop decks, cooking spaces, coffee bars, community gardens, swimming pools, and dog parks are all places where people gather and spend time together.
Partner With A Reliable Construction Group
The goal at SWET Construction Group is to maximize the value of multifamily housing investments. Focusing on enhancing the value of your real estate investment. Our leadership team is powered by our proven track record and key industry relationships.
Contact SWET Construction Group for more information.