Monthly Archives: February 2014

Renovating an Out-of-date Multi-family Property

If you’ve recently purchased an out-of-date property or are planning to renovate a complex you already own, it’s common to feel overwhelmed by multi-family construction project. It’s important to work with a contractor that has expertise in a variety of fields. Multi-family construction renovations involve a range of solutions including painting, electrical work, plumbing, general contracting, roofing and a variety of other types of work.  If you work with a contractor who can provide a variety of services, you’ll find that your renovation projects are more achievable.

When it comes to multi-family construction projects, it’s important to set priorities early. You can work with your contractor to make a long-term plan for improving your multi-family property. This way, you can plan your budget over the long-term to make your goals achievable. Many property owners begin by renovating the exterior of the property because it’s difficult to attract tenants if the property looks run-down. Exterior renovations can be completed in phases. Painting can dramatically improve the look of a building. In some cases, the exterior may have deteriorated too much for paint and new siding or repairs may be necessary.

balconiesYour multi-family construction project may involve a variety of other external renovations to improve its curbside appeal. One strategic multi-family construction approach is to focus on issues that people quickly notice. Replacing out-of-date fencing can considerably improve the appearance of the area. Your contractor can help evaluate the exterior of the property and recommend the multi-family construction projects that will make the most immediate difference. The contractor may recommend fixing shabby balconies, replacing gutters or replacing seriously damaged roofing.

Interior renovations are an important part of renovating out-of-date buildings. Old paint, shabby carpeting and old plumbing fixtures make the property much less attractive. A contractor experienced with unit upgrades can help you plan for the most important improvements. Often, contractors can recommend unit upgrade strategies that are both cost-effective and effective. Consider a contractor that offers unit make ready services. The contractor comes in and finishes the unit before showings or rentals so that it looks its best. This is especially helpful after a major multi-family construction project. The contractor will clean, remove dust, vacuum, polish and eliminate all signs of recent work so that the unit looks clean and brand new.

The Most Important On-going Repair Issues

Property maintenance is an ongoing concern for multi-family property owners. Whether through small commercial construction projects or large undertakings, taking care of your property maintains its value over the long run. You’ll attract and retain the best tenants. If you decide to sell the property, you’ll get the best possible price for it. Best of all, you aren’t likely to be overwhelmed with projects at one since you have kept up with repairs.

professional-contractorA long-term partnership with a commercial construction company may be the best way to handle ongoing repairs. It’s ideal if you can find a commercial construction company that has expertise in a variety of areas. These include roofing, welding for balconies and other metal structures, plumbing, HVAC and concrete. Some commercial construction companies specialize in multi-family construction companies so they have particular expertise on dealing with the ongoing issues property owners face.

You can build a relationship with a project manager at a commercial construction company. This will enable you to make a long-term plan with an experienced individual. The project manager will likely recommend a variety of ongoing maintenance projects. These may include painting, stair repair, unit upgrades, roofing repairs, general contracting and upgrades to clubhouses. Often, an experienced project manager can point out issues you might not notice on your own.

Upgrading energy efficiency should be a consideration for all property owners. You may not think of it as an ongoing repair issue, but you can slowly improve your property’s energy efficiency as a part of other projects. Replacing old appliances with new, energy-efficient models can be a significant cost savings. Your commercial construction project manager can recommend other energy-efficiency repairs such as roofing and siding. Often, you can upgrade your energy efficiency during routine repairs.

The most important ongoing repairs are those that affect the attractiveness of the property and the convenience of tenants. The exterior of the building should appear new and clean. Fencing should be in good shape. All stairs, balconies and other exterior features should be regularly repaired to maintain their integrity. Indoor integrity is important as well. Paint should be fresh, windows should be in like-new condition and all plumbing should be up to date. A partnership with a commercial construction company will help you manage all these details so your property is in the best possible shape.