When you invest in a multifamily apartment building, you want to make sure you get the highest return possible for your investment. Besides location, an attractive building is one of the main draws to potential tenants. Landlords and property management companies that look to always improve the exterior of the apartment building will find that such an investment can boost the occupancy rate significantly. What are some ways you can increase an apartment building’s curbside appeal? Read on to find out.
Exterior Power Wash
This is one of the most cost effective ways to give your apartment building a freshly painted look without having to actually splurge for a paint job. The whole process only takes up to a day and costs about 1/8th what it would cost to paint the entire building. Just make sure the power wash team also does windows. It is also a good idea to verify that the current paint job is in good shape otherwise the high pressure water will blast it right off. But if the water strips the paint off, it is probably a good time to repaint anyway.
Exterior Paint Job
If pressure washing isn’t an option because the current paint job is too old, it’s time to book a crew to do a professional paint job of the whole building. Planning this correctly means the owner or management company should set aside a 4 to 6 month budget to pay for the job. It is important to only hire a licensed, bonded and insured paint contractor so that you are protected if and when one of the workers falls off the scaffolding and hurts himself.
Replace or Update Property Signage
A new or updated sign in the front of your apartment building can do wonders for bringing in new prospects. Giving your sign the equivalent of a face lift can just require a fresh coat of paint or you can go as far as rebranding your property with a new logo and look. Whatever option you go for, just remember to keep a “vacancy” placard attached to the sign that encourages walk by traffic to stop in for information.
If the grass in front of the property has dry spots or dirt areas and the flowers are looking too bare and ragged, it’s time you consider giving your landscape contractor a call. Few things frame an apartment building as well as a manicured lawn and flowerbed. Dead grass, wilted plants and un-kept trees may give prospects a bad impression of the landlord or property management company, which is why it’s important that the property greenery be colorful and inviting.