The Most Important Aspects to Complete Unit Renovations ARE!
07 May 2019
- For Rental Properties To receive the highest return on your rental property throughout the years and to attract tenants. It only takes a few weeks of vacancy to refurbish an apartment.
- For owner occupied properties
To ensure the Apartment remains in vogue and does not date. Sitting down with an Apartment Refurbishments project manager to assist in refining your ideas
There is a wrong way and right way to go about your refurbishment. For this reason, we provide you with the most important aspects.
Keep the Overall Value of Your Property in Mind during the Planning Stage
- RENTAL PROPERTIES; Understand What Tenants Look for in Rentals. Your refurbishment should not cost more than 5% to 8% percent of your overall property market value, this goes for any properties, even high-end ones. If you exceed this percentage range, you may lose money instead of recouping it with your renovation.
- Think of the features and amenities that tenants are searching for in rentals today before youplan your renovation. By doing so, you increase the chances of keeping your rental occupiedall throughout the year.
- Concentrate on Functionality and Appearance, Both are of equalimportance with a renovation of a rental unit, thou compromises may have to be made
- Limit the FrillsRemember to keep the frills to a minimum since these can cost substantially more thanstandard inclusions. Use frills for accents rather the main features or amenities.
- Repair or Replace Worn Fixtures and Features First, Always concentrate your efforts first of the worn features and fixtures before planning therest of the refurbishment. You remove the eyesores this way that can detract from the rest ofyour efforts.
- Update with the Latest Products, whenever possible, update old features and fixtures with the latest products available. Forexample, install countertops of engineered quartz instead of laminates. This material is soresilient that it will last for years without becoming outdated too soon.
- Remember the Walls and Ceilings, You should also refresh the walls and ceilings in your unit during a remodel. Add a new acoat or two of paint. As faras cost goes, redoing the walls and ceiling is the most affordable and considered a part of arefurbishment.
- OWNER OCCUPIED PROPERTIES; As this is a Renovation to your tastes the Renovation guide line is from the 8% and up
For additional guidance on the most importance aspects of a complete unit renovation
Contact Apartment Refurbishments. We specialise in these services and we will help you decide the best action to take for your rental Apartment or for that fact, your live-in home Apartment.