How to Maximize the Potential of your Property through Renovations?
Let’s maximize the potential of your property! Read on to get some tips from Green Ocean Property Management! With every dollar that you put into your property, you want to make sure that you get a return on your investment. We can help you do that. Table of Contents Property AssessmentWe don’t…
Let’s maximize the potential of your property! Read on to get some tips from Green Ocean Property Management!
With every dollar that you put into your property, you want to make sure that you get a return on your investment. We can help you do that.
We can help you go through the property and determine what aspects would add value. Not only to you as the property owner through appreciation of property value, but through the tenants.
Tenant value can be added through improvements of the property by making it more desirable and being able to increase the rent as well as the retention of their lease. If they stay, you have less turnover cost – less turnover cost means more money in your pocket.
We don’t want to go crazy with our Renovations
We want to be able to have a suitable taste that is desirable across the board. Year-to-year trends change, but we can always guarantee that people love bright units! We’ll always make sure that the lighting of your unit is good. They’re going to love clean surfaces, so we make sure that we keep up with the trend, which is white. We do a lighter countertop and stainless steel appliances as well.
Renovation in less than a week
We have a proven strategy for this. We will go through the unit, decide, and sometimes do a renovation in less than a week. We’re able to do this in a cost-saving way instead of replacing cabinets. Below are images to show you a sample of the renovation we did in the past.
This allows us to minimize the actual turnover time and to be able to get tenants back into the unit to pay rent.
Many times, landlords don’t repair or make renovations that result in the slow deterioration of the property and would eventually become less desirable. This is not what you want.
We want you to be at the top of the market, but you need to be competitive and say that your units are nicer. If in case there are two equal-size units for the same type of rent. you want to be the one to be chosen.
Determine the Curb Appeal Improvements
We’re going to go inside the unit and the outside of the building, determine what type of minor changes can make good curb appeal improvements. We will also focus on things like the kitchen and the bathroom. These are the two areas of your unit that tenants love and will focus on to make their decisions based upon.
As we talk about the kitchens, the big things are cabinets, countertops, appliances, and lighting. In the bathroom, it is the same thing. They want something clean, functional. They want to have space to put their goods and make them feel like things aren’t cramped.
Once in a while, we’ll go through with you and change layouts, but most of the time what we’ll do is we’ll update, improve and decide based upon what the market is demanding and what other people are looking for and feeling.
Make sure to get the biggest return on Investment
As a general contractor who has done hundreds of renovations, not only for clients but for my properties, we’ll help ensure that you get the biggest return on investment on any improvement money spent. We can discuss different options, and you can work with our trusted vendors to achieve your goal.
If you have any questions about renovations and how you can improve your property to get a greater return on investment, as well as maximize the opportunities that a renovation can do for your property, feel free to reach out to Green Ocean Property Management.
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