As a property manager or owner of a multi-housing property, you know just how competitive the market can be. There are many remodeling projects renters look for, and wish their property managers would invest in. At Titus Contracting, we are often asked to help with tenant improvements in Woodbury and the surrounding areas. Here is a brief rundown of what the most commonly requested tenant improvements are and why potential tenants seek them out in a place to lease.
One of the first things potential renters look for in a new home or office space is ample sized closets for clothing, toiletries, files, and more. While you cannot increase the size of your property, there are several ways to increase the size of your storage. You can create storage space where it didn’t exist before, as well as make the most out of the storage areas you already have.
If you are considering any large-scale tenant improvements before renting your property, new and improved windows should be at the top of your list. Older properties, in particular, will benefit from upgraded windows. New windows will regulate the inside temperature, therefore increasing energy efficiency. Often, tenants have to pay for their heating and/or cooling and want to know that their money isn’t leaking out through old, faulty windows.
Updated Kitchens & Bathrooms
If you can only focus on one or two areas during your next round of tenant improvements, make it the kitchen or the bathroom. Small but impactful projects, such as new taps, faucets, light fixtures, backsplashes, and energy efficient appliances will upgrade the look of the unit and make it more appealing to potential tenants.
A Fresh Coat of Paint
Whether or not you have the time and budget for larger scale tenant improvements, you should never turn over a rental property without giving the entire space a fresh coat of paint. It lends an overall cleaner look and shows you put the time and effort into getting it ready for future residents.
Offer More Amenities
Add a fitness center, laundry room or common area to increase your building’s appeal. With today’s emphasis on health-consciousness, having an on-site fitness center is an attractive amenity to a lot of prospective renters. Titus Contracting has constructed plenty of fitness centers throughout the years, so we can help add this great amenity, and many others, to your building!