As demand in the rental market grows, landlords must keep up with the competition. When you’re ready to sell your apartment building, there are a few key upgrades you can make to help increase its value and appeal to potential buyers. Keep reading to learn about the top property upgrades that will help you sell units in your apartment building.
Invest in high-quality appliances.
No one wants to rent a unit with old appliances that have been through hundreds of previous tenants. To stay ahead of the rental market competition, consider investing in some high-quality appliances can help attract and retain tenants and help increase the resale value of a property. Quality appliances don’t have to be costly, but it’s crucial to replace them often enough to keep the apartment looking modern and clean.
Bathrooms are often used, so appliances tend to get dirty and worn quickly. Consider getting a beautiful tub replacement that will have your tenants wanting to take relaxing baths. Not only does this entice new residents, but it’s a fantastic selling point. You may also want to consider a separate shower area with an upgraded showerhead, lighting and storage options, and high-quality tile. Additionally, consider upgrading old washers and dryers, ovens, and refrigerators.
Make your building safer.
Whether your building is in a big city or a small town, safety is a big priority for renters. If your units don’t already have some type of security system in place, your tenants may be left covering the costs themselves. To help mitigate apprehension, take the time read some Swiftlane reviews and find the best security system for your units. Updated systems offer video intercoms, touchless access control, and convenience. Plus, a security system will give you added peace of mind that your building is safe and secure.
Replace old hardware.
One of the easiest and most cost-effective ways to improve your building is by replacing old door hardware with new and modern hardware. New door knobs, levers, outlets, and hinges can give your units a fresh look and make them more appealing. Plus, it’s a relatively cheap upgrade that can greatly impact the space. If your budget is low, consider focusing on kitchens and bathrooms. These rooms have the most hardware, so you’ll make the most significant impact with these choices.
If you’re looking to replace old door hardware in your apartment building, keep a few things in mind. First, you’ll need to choose the right type of hardware for your doors. There are various styles and finishes available, so you can find something that will match the existing decor or create a new look. Once you’ve selected the right style of hardware, it’s important to make sure that the measurements are correct. You don’t want to purchase hardware that is too small or too large for your doors. It’s also important to pay attention to the weight rating of the hardware; some pieces are designed for lighter doors while others can handle heavier ones.
Install energy-efficient appliances.
Installing new energy-efficient appliances is an excellent way to make your apartment building more appealing to potential buyers. By replacing old, outdated appliances with newer models that are more efficient, you can save money on your utility bills and show prospective buyers that you are taking steps to improve the property. Additionally, energy-efficient appliances tend to be quieter and have a longer lifespan than older models, making them a wise investment for any property owner.
Upgrading your apartment building is a great way to sell units, but it’s also an excellent long-term investment. By making these small but notable improvements, you can make a big impact on potential buyers and increase the likelihood of a sale.