Getting a high rate of return is always on the mind of the business – and renovating a multifamily property is a top consideration and one of the hottest trends to achieve it. Attracting Austin residents to the property while ensuring the highest quality of that renovation (because you know prospective residents will notice if the quality of the renovation is high or lackluster) is a must, and our team of professionals has the top list of exterior renovations that makes the short list of renovations that will make your property shine.
Outdoor Recreational Spaces
Giving your residents plenty of space to enjoy around a multi-family complex is one of the biggest things that keeps them resigning year after year. It’s important to give them spaces that they’ll enjoy with their friends and families year-round. As the name implies, “multi-family” means there are families who will be living there, which means children will likely be there too. So having a fun (and safe!) playground for them to enjoy is an essential must-have. Plenty of outdoor cooking areas, a pool, and even a hot tub or sauna are all great additions to these outdoor spaces. These are some great amenities to consider when you’re thinking about what you can add to your multi-family community.
For the Furry Residents – Bark Parks
As more people are moving into city spaces for tech jobs, there is a growing need for outdoor spaces for dogs. While a sidewalk or small courtyard might work for a quick potty break, dogs need much more room to stretch their legs and work off energy. Today’s most popular pet spaces include dog parks with all the amenities: water fountains and sprinklers, doggy waste bags, safety gates, and even big dog/little dog separation.
The Central Texas area is a hotbed for technology growth, but it’s also just plain hot. Covered areas or trees provide much-needed shade on hot days, so pay attention to landscaping and think about adding gazebos or other shade covers. In addition to shade, water fountains are a must for keeping dogs safe in the Texas heat, so look for fountains that have a spout for humans as well as a spout for pups.
Storage & Delivery Essentials
Now that working from home is standard, receiving packages at home has exploded – which means delivery vehicles and drivers going in and out of a property can create opportunities for an unsafe environment. Package lockers are one of the most convenient amenities that allow residents to retrieve packages without having to be home while allowing them to feel safe in the community.
Storage areas have also gained popularity with the rise of cycling and scooters as a form of transportation. Garages and bike storage are highly useful amenities for residents who own bikes and a wonderful remodeling option during a renovation to add that extra oomph to the property.
Renovations can be costly, but by adding popular amenities, you’ll be increasing your rate of return by garnering higher rents and keeping your occupancy rate high. Outdoor spaces are an important consideration for renters, and Gage Commercial Construction knows what it takes to make your property stand out. For renovation & reconstruction done right, contact us today!