When you’re a multi-family property owner, the quality of your property is the backbone of your marketing. You may have the best social media marketing in the real estate industry, but if your property leaves something to be desired it isn’t likely you’ll find long-term tenants for your building.
Fortunately, even making minor improvements to your property can have significant rewards. A minor kitchen remodel, for instance, has a return on investment of up to 81%. To help you find tenants that will happily live in your multi-family property for years to come, here are a few tips you can use to turn your property into a quality apartment building.
Update the appliances
Old appliances are not only a no-no for most tenants but they can also be a hazard to your tenants and your property. For instance, old gas stoves are more likely to leak noxious fumes and pose a risk for fire or worse. Even old electrical appliances put your building at risk for short-circuiting. New appliances are more visually appealing to tenants. They’re also energy-efficient compared to old appliances, which can be another bonus for tenants or a bonus for you if you pay for your tenants’ utilities.
Upgrade your building’s laundry room
Coin-operated washing machines and dryers are another way landlords boost their revenue. However, you won’t be making any money in your laundry room if your machines are outdated and the room is scary. Tenants need to know that their clothes will be properly washed and dried or they’ll turn to a laundromat elsewhere to do their laundry. It’s also important for tenants to feel safe and secure in your building. Make sure your laundry room has plenty of lighting and quality floors that can be easily cleaned.
Install high-quality kitchen countertops
One of the biggest mistakes landlords make is installing cheap countertops in an effort to save money. However, you won’t be saving money if you need to replace your countertops when they’re scratched and damaged by tenants regularly. Installing quality materials such as a granite countertop not only allows you to price your rent higher for an ROI, but a granite countertop will also last longer so it’s smarter investment.
If you’re looking for quartz countertops, marble countertops, or granite countertops to transform your apartment building or multi-family property, SupremeStone has what you need. We’re the kitchen design store Boston trusts to provide great countertop options for a wide variety of kitchen designs. For more information about our countertop materials, contact SupremeStone today.
