Making an investment into repositioning your multi-family property can increase its value, lead to happy residents and increase cash flow. It can lower the management burdens; creating a happy and fulfilled team, and lower expenses all around.
Take into account your budget & the scope of work you’d like the renovations to achieve.
Cosmetic:
This consists of making a dramatic change, in the easiest and least involved way.
Landscaping, resurfacing and re-striping parking lots, new signs, a fresh coat of paint inside or out, new exterior/interior light fixtures and revamping interior and/or exterior finishes. Making some of these small changes can help impact how your potential tenants feel when they arrive at your property looking for a new home.
Structural:
This option is usually more in-depth and involved.
Full kitchen remodels, structural changes to balconies and interior walls. Adding new common areas and/or swimming pools and decks, and club house or fitness center remodels. These changes can have a huge impact on how your property compares to others in the area, therefore how much rental income you can expect.
P&R Property have established ourselves as a trustworthy and hardworking team for all multi-family reposition needs.
We’ve worked with many large communities over the years, including Greystar, PRG Property Management and Camden Properties.
If you are interested in repositioning your multifamily property – contact us for a free quote.