It is more urgent than ever for owners and managers of multifamily and apartment housing to make renovations for high ROI. Understandably, some investors are hesitant, from either COVID-19 virus and brining workers on the property or financial concerns. But insuring increased occupancy and rents are vital.
In the midst of everything going on, there is good news. When you partner with SWET Construction Group you can expect a safe work environment and doesn’t require as much capital as you would think.
The pre-construction phase is easily done over video or zoom conference calls, if that is your preference. This can entail the budget, time frame, constructibility, design, materials, and any other details.
Improvement projects should be carefully thought out, making necessary renovations while not over-improving. Making updates that reflect the property and drive up occupancy.
2021 Renovations With The Highest ROI
Curb Appeal
As the saying goes, “you never get a second chance to make a first impression”. So, take a good look, is your building attracting renters? Is your signage enticing? What about the buildings themselves? New siding definitely drives up curb appeal, though it is more of an investment. Maybe add textural elements with maintenance free vinyl shutters. Hardscapes can be easy on the budget, but really add aesthetics.
Security
Security will continue to be a hot topic in 2021, ensure the tenants feel secure and safe. New locks or even new doors with updated security features, as well as windows, can make all the difference for a potential resident. Upgrading outdoor and parking lot lighting can increase security.
Kitchen and Bath Finishes
With most of the workforce still spending most of their time at home, updated kitchens and baths can make all the difference. While marble or granite finishes may not be in the budget, there are other materials in today’s market that really go a long way in raising the value of the building.