If you own an apartment or multi-housing complex, you know how important it is to keep each unit occupied. An empty unit is a loss of revenue for you. However, in many cases, in order to make money, you need to spend some money. To keep tenants coming to your complex, you need to keep the apartments updated as much as possible. That’s where we can come in. We can assist with apartment remodeling in the Twin Cities to make your units more marketable.
If you own an older multi-housing complex, this is especially important. New apartment buildings seem to be going up almost daily. In order to compete with these new places, some major upgrades may be required. With the growth of renters in the Twin Cities area, we have seen the increased need for apartment renovations.
Apartment remodeling can take many forms. It can be a complete overhaul of the entire unit or it can be one upgrade at a time. Here are some examples of apartment renovations we can handle for you.
- Kitchen – new cabinets, countertop, hardware, sink, backsplash
- Bathroom – new cabinets, countertop, hardware, accessories (towel bars, shower rod, etc), sink, shower/tub
- General for one room or multiple rooms – new flooring, lighting, paint
Here is an example of an apartment remodel we did.
We can upgrade units that are empty between tenants or even while the unit is occupied. Most tenants will be willing to put up with some minor inconvenience in order to get new flooring, cabinets or lighting. In many cases, current tenants might even agree to an increase in their monthly rent with these upgrades.
Just a few updates can go a long way to making your apartment more appealing to potential renters. Great first impressions are a must. You want to create that “Wow” factor. Depending on your budget, you can do several major upgrades at one time, or you can make several updates over time.
You might consider starting with the updates that seem to make the most impact. Is the carpet getting old and worn? Consider switching to hardwood or vinyl flooring. Maybe the kitchen countertop is outdated? This may be the first update to make. Find out what renters seem to be looking for and try to make those upgrades to your current units.
In addition to the individual apartment units, it’s important to keep other common areas up-to-date as well. This can include the office, entryways, laundry room and any other shared areas. The outside of the apartment complex is important as well. Signage, shrubbery and landscaping can have a major impact on your ability to attract new residents.
If you would like to learn more about apartment renovations in the Twin Cities, call Building Maintenance Management at 763-541-4886 or you can Contact Us.