Flipping Units for New Tenants

When a tenant moves out of a unit, it’s a good idea to do some renovations to the unit to prepare for new residents. You want new residents to be pleased with the unit when they move in. Many property owners work with a multi-family construction company to handle many aspects of their buildings.

Kitchen-upgrade-tenantYou should thoroughly inspect the unit and make notes about potential improvements. Are there holes or cracks in the walls? Do you see water damage? What kind of condition is the floor in? Is the carpet stained or coming loose? Do the hardwood floors have dents or serious scratches? Often, rental units need a fresh coat of paint to make them look fresh and welcoming. Make note of the obvious problems so you can develop a plan for renovating the unit.

You can ask your multi-family construction company to inspect the unit for problems that aren’t obvious. Some issues affect resident safety such as mold and electrical problems. Other problems aren’t as serious but need to be addressed. These include plumbing problems, outdated appliances and cleaning issues. The multi-family construction company should inspect the health of the HVAC system to make sure it does not need updates or repairs.

When you work with a multi-family construction company over time, you will typically work with the same project manager. This person will get to know your property and your priorities so you plan projects over the long term. You may develop a system for flipping units since most properties have consistent changes in tenants. This can help you get rental units ready quickly. It will also help you develop a budget that you can rely on when an old tenant moves out and you want to prepare the unit for new residents.

Multi-family construction companies specialize in dealing with the issues that multi-family property owners face on daily basis. They can often recommend upgrades and changes that you may not think of on your own. The multi-family construction company’s experience in the industry can help you make the most of your properties so that you attract the kind of tenants that you want in your buildings.