7 Remodel Investments Worth the Time and Money
Digested from Property Management Insider
Adding the amenities your residents want will drive new leases and renewals. To help you make those critical investment decisions, NAA has just released a new research report, Adding Value in the Age of Amenities Wars.
Similarly, investing in the right unit and community remodeling jobs will both attract new residents and increase resident retention. Kaitlin Krull from Home Improvement Leads lists the top seven remodeling investments that apartment residents want most in a post on Property Management Insider.
1. New windows. Double- or triple-pane windows not only help regulate temperature in the unit, they also cut down on outside noise. No wonder residents appreciate them so much.
2. Energy-efficiency investments. Consider installing smart home technology in units so residents can better track and moderate their energy use. If you invest in any renewable energy sources (solar panels, solar water heaters, etc.) make sure you market that—it might turn a potential resident into an actual resident.
3. More storage. Adding floating shelves throughout the unit and modular storage in closets and kitchen areas can be a small investment with a very happy resident pay-off.
4. Kitchen upgrades. You don’t have to tear out the kitchen to give it a fresh look. Installing new faucets; cabinet and drawer pulls, knobs and handles; light fixtures; and backsplashes can make a big a visual difference.
5. Bathroom upgrades. Even if it’s not yet time to replace tile, flooring, tubs or toilets, consider upgrading faucets, fixtures and shower heads.
6. Landscaping and entryway. Curb appeal will always matter. Make sure landscaping is always top-notch and repaint at the first sign of wear and tear.
7. Good paint. Use good quality, mark-resistant paint when turning a unit. And be sure to always give the ceiling a new coat, too.