When owning or managing a multifamily housing building, the question of renovations always looms. While it used to be that a fresh coat of paint and new floors was all you needed, but not any more.
Today’s multifamily housing renovations not only increase the market interest in your units, but also the quality of life for your tenants. The right renovations for your property include upgrades that have a significant return on your investment, last for years, and contribute to rental growth.
The right renovations can keep your property a step ahead of the competition and draw in higher rent.
Improvement Inside The Units
In terms of traditional renovations, the addition of luxury to kitchens and bathrooms goes a long way.
Upgraded materials, such as granite countertops can change the entire feel of the room. Upgraded appliances, dishwashers, washers and dryers. Unique lighting and bold colors can be a focal point.
Sustainability
Today’s renters care about the environment and energy efficiency. Inhaling energy efficient windows, lighting with long lasting LED options, can peak the interest of new renters.
Strong Tech Infrastructure
Embrace new technology, keyless entry enforces safety, smart home accessories, and a package delivery center, are all in big demand.
Improve Curb Appeal
Since your building is the first thing your visitors and guests see, make sure the appearance is aesthetically pleasing and is a good representation of your company. Painting adds value to your property at a minimum expense, compared to replacing materials.
If you are considering a rent increase, it may be easier to justify with added curb appeal and fresh, clean interior, it will be so nice your tenants won’t want to leave.
As a leading construction group in the Southeastern United States, SWET Construction Group specializes in new developments and renovations of multi-family housing properties. Our professional team of experts gives our clients the ability to control costs and services. Our goal is to deliver a quality product in a cost effective and timely manner.