Attracting the best tenants is the goal of every multi-family complex owner. You want the kind of tenants that respect the property and make it their home for a long period of time. Most property owners spend a lot of money on renovations to make their properties stand out from other apartment buildings. Although renovations can be costly, if you approach them properly, they can be a great investment.
A property with an attractive gathering space has an advantage over multi-family complexes without a community room. If you are considering doing improvements at your complex, consider the advantages of adding a clubhouse or a community room. A clubhouse is an investment that your tenants will enjoy if it is constructed properly. If you encourage people to hold events at the clubhouse, it will help build a sense of community which helps you keep your best tenants. Some properties have annual or semi-annual tenant events so that new and existing tenants can get together and meet one another.
If you already have a community room or clubhouse, is it time for renovations? Evaluate the room carefully. Is it modern? Does it have it have comfortable and ample seating for a gathering like a baby shower, graduation party or a book club? Is the seating in good condition? Even if you have ample seating and tables, you should check the condition of the furniture. Shabby furnishings will make the room appear neglected.
If you are considering a remodel like adding or upgrading your clubhouse, think about your tenants’ needs while designing it. An experienced multi-family construction project manager can help you plan a clubhouse that will be attractive and functional. You may consider adding a small kitchenette or a wet bar for events. Some clubhouses have multiple rooms so that more than one event can take place at the same time. Another option is one large room that can be divided into smaller rooms with a removable wall. The more multi-functional the room is, the more useful it will be.