May 30, 2018 | Multifamily
Maintaining a family home takes work, time and money.
Being a landlord on top of this, brings the responsibilities of maintaining both your own residence and that of your rental home(s) and tenants.
Keeping your tenants happy and satisfied is key to being a great landlord and retaining renters.
Repairs & maintenance are vital for stopping those major emergencies from happening. Therefore, being on-top of potential disasters before they arise will save you time and money.
Basic Preventative Maintenance:
- Air filter changes
- HVAC checks
- Gutter cleaning
- Ducts and vents cleaned
- Inspecting smoke detectors and changing batteries
- Draining water heaters
- Replacing weather stripping
- Plumbing regularly inspected
Major Fixes and Repairs:
- Plumbing issues and leaks
- Replacing bathroom fixtures
- HVAC system breakdowns
- Drainage issues
- Replacing flooring
- Kitchen appliance repairs
Take the stress of maintaining and fixing your rental property away by hiring an honest and reliable company.
Contact us today for your free quote.
May 9, 2018 | Multifamily
As a multi-family community or hotel, you are always looking for ways to increase your revenue. This can be achieved by adding amenities that will make you stand out from the crowd and keep up with competitors.
Expanding or renovating can make a huge difference in the look and atmosphere of a property.
Adding new and exciting amenities that other properties don’t have will set your establishment apart from others. Thus helping to create hype that will bring in potential new renters & guests.
In many cases, people are willing to pay higher prices if certain features and conveniences are available in their accommodations.
Amenities & Services for Multi-Family Communities:
- Clubhouses with beverage and snack areas
- Swimming pool(s)
- Children’s play areas
- Dog park/pet spas
- Covered parking
- Fitness centers
- Garage/storage areas
- Vending machines
- Laundry services
- Valet trash pick-up
Amenities & Services for Hotels:
- Executive lounges
- Swimming pools
- Fitness centers
- Fitness retail
- Vending machines/mini marts
- Restaurants with complimentary breakfast and beverages
- Bars and outside spaces
- Laundry facilities
These extra features, services and specialty spaces can add revenue to your business that can ultimately increase your bottom line.
P&R Property Consulting Group have completed numerous projects that have created the inviting and welcoming atmosphere that pique customers interests.
Contact us today.
Feb 27, 2018 | News
One of the newest and most cost-efficient trends is converting every light in your home or business to LED lightbulbs.
5 years ago, Energy Efficient bulbs were all the rage. They were mostly inexpensive, and boasted a longevity of 7+ years.
These days, consumers have realized that these “energy efficient” bulbs don’t last as long as they stated, and haven’t really made an impact on their electrical savings.
This is where LED bulbs come in. Making this small but beneficial change can really make an impact financially.
LEDs are extremely energy efficient and consume up to 90% less power than incandescent bulbs.
They also last for a much greater duration.
The expected lifetime of different lightbulbs:
| Incandescent Bulbs |
Between 750 & 2,000 Hours |
| Compact Fluorescent Light (CFL) Bulbs |
Between 6,000 & 10,000 Hours |
| LED Bulbs |
Between 20,000 & 50,000 Hours |
Pros:
- Dramatic decrease in power costs. Over time you’ll really start to see a huge savings.
- Maintenance and replacement costs are significantly lower, due to their amazingly long lifespan.
- New color options; instead of only the glaring bright white of past LEDs.
Cons:
- Definitely the upfront cost. Spending a large amount at first can seem daunting.
- Color limitations. Although LEDs do now have more color options, they often emit a more blueish, brighter light.
Picking the right LED bulb:
LED bulbs are measured in Lumens, unlike incandescent bulbs which use Watts. The higher the lumen range, the brighter the light. So for a brighter light, look for the higher lumens. For instance; to replace a 125 watt incandescent bulb, choose a LED with 2600 lumens.
Also take into consideration the type of bulb you need. LEDs can come in a wide variety of unfamiliar shapes.
Recently, one of our multi-family community partners made the change over to all LED lightbulbs. Camden Properties LLC assessed the upfront costs as well as the projected savings over a 5-year span, and decided to make the move. Now their residents are already seeing huge savings on their electricity bills!
Whether you are in the Multi-Family industry, Hotel Management or just a homeowner looking to save money, LED bulbs are the way to go!
Jan 26, 2018 | Multifamily
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.
If you are interested in repositioning your multifamily property – contact us for a free quote.
