If you own a rental building as a source of income, you need to keep it in tip-top condition for people to hire your services. While regular repairs and replacements are one thing, you will need a complete condo remodel for your rental building down the road. However, you will need to be smart and wise with your decisions. So, let’s discuss some important tips that will help you remodel your rental building the right way.
Identify What Matters
When remodeling your rental building, you might have several ideas in your head. Remember, all those ideas may not get you what you want. In the case of a rental building, you will need to focus and identify the practical things first. This means you should only invest in things that will offer a return.
Some people tend to focus on luxuries and accessories only to lose their money at the end of the day. For instance, if you do not have a washer and dryer, you can add them to the property. Furthermore, you can also upgrade the security system. There is a lot you can do once you have determined what your building needs before anything else.
Improve The Lighting
No matter how expensive or fancy your lighting system is, it will become outdated after a few years. That’s why it is necessary to improve the lighting system of your rental building. Believe it or not, a well-lit store or a building tends to attract relatively more customers than a building that is dark or not lit as well.
You can opt for solar lights that will help save on energy costs. Although, such lighting systems tend to be expensive since they are smart but will offer a great return on the investment.
Work On The Yard & Parking Space
Your rental building must have a yard and a parking space that needs some work. Having a yard gives a welcoming feel to the building and your renters can spend some relaxing time with their friends and family members. Additionally, it also helps build a good first impression.
You would not want people approaching your property with a filthy yard. They are most likely to turn around and walk away. The same thing is with the parking space. Your renters would want an area that is safe and clean to park.
So, you should spend some money on the lighting system here too. Make sure there are cameras and a gate, if possible, to keep thefts and prying eyes away from the expensive vehicles.
Paint The Exterior
Since the exterior has to bear the brunt of all the extreme weather conditions, there is no surprise that it will need a fresh coat of paint. If you have a well-managed yard with an exterior that is flaky and cracked everywhere, don’t expect your renters to choose you over your competitors.
Painting the exterior plays a crucial role in building the first impression and you need to get it right. Instead of experimenting with the colors, select the colors that are right for your building.
Paint The Interior
Once you are done with the exterior, it is time to focus on the interior. Remember, painting the interior of your building is going to be cheaper and less time-consuming than the exterior. Then again, while painting the interior, you should keep the colors both neutral and simple.
It is important that you consider the type and finish of the furniture and the lighting system as well. You wouldn’t want the interior paint to mismatch and make you feel everything has gone wrong. For instance, white bright lights with brown walls are going to be a silly combination.
Opt for something that brings energy and focuses on the prominent features of the building.
Patch The Holes
Finally, if your rental building is old, you will need to identify and patch the holes. Apart from the aesthetic appeal, holes can create all sorts of problems. Depending on the number, patching holes can be an expensive fix. But you neither can ignore nor rent out your buildings with such problems.
Final Word
Remodeling your rental building is all about focusing on the practicality and appeal of the building. Think from the customer’s point of view and you will make the right decisions. And for details, get in touch with commercial remodeling DC contractors.
