The rental market may be a highly competitive market. And, as the property manager or owner of an apartment or office property, you know the importance of some important updates. There are many potentials for remodeling projects and current tenant hopes, and knowing what they can really help you gain a place in the competition. The following is a brief overview of the most frequently required tenant improvements and the reasons why potential tenants are looking for tenants at the rental location.
Windows - First, when considering any large-scale tenant improvements before renting your property, new and improved windows should be at the top of the list. Especially older properties will benefit from updated windows. Newer insulated windows are one of the primary functions that potential tenants look for, especially if they are responsible for paying for heating and cooling. New windows will adjust the internal temperature to increase energy efficiency.
Storage - How about the closet? In this era, ample storage is essential for any home or office. Potential tenants want to make sure there is enough space to store clothes, toiletries, documents, etc. Although you can't increase the size of your property, there are several ways to increase storage. You can create storage that didn't exist before and make the most of your existing storage area.
Clean the walls, new paint - this is essential. Whether you have enough time and budget to make large-scale tenant improvements, you should not hand over a rental property without painting the entire site. The newly painted walls make the overall look cleaner and show tenants that you spend time and energy preparing for future residents.
Kitchen and bathroom renovations - Small but influential details such as new faucets, luminaires, tailgates and energy efficient appliances will update the look of the unit to make it more attractive to potential tenants. If you can only focus on one or two areas during the next round of tenant improvements, use it as a kitchen or bathroom.
Facilities - Add tenants' attractive facilities to other areas of the building. Join a new fitness center, public area or laundry room to increase the rental potential of your building. With today's emphasis on healthy living, having an on-site fitness center is an attractive feature of your building; whether you rent an apartment, office or other way.
Moreover, these are just some of the transformation and renovation projects that should be considered to attract new tenants. So start collecting inspirations and ideas and call your local contractor to renovate your apartment, office or apartment!
Orignal From: What tenants want: the transformation and reshaping of commercial real estate
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