It’s currently a seller’s market; however, the current state of affairs has experts on either side of the fence regarding how long it will last. That is why making sure that your commercial properties are up to date with all of the smartest property renovations.
The right renovations will help increase your property value and help your commercial property stand out against the rest. We are going to cover the top 5 ways you can instantly up your property value. So, if you are ready to learn more, then let’s get to it!
1. Rooftops
Rooftops can often go overlooked in terms of property improvements; however, faulting or failing roofing can cost thousands in damage repair. Rooftop renovations go beyond upgrading the tiling though.
Many commercial property owners are starting to see the rooftop as an additional useable space for the property. If the roof is suitable, upgrades like rooftop lounge areas or community gardens all make for excellent property improvements. Talking to an expert in commercial roofing could help you make the best decision.
2. Gyms
Whether your property is housing tenants or business owners, having access to a gym or workout facility is an amenity that renters are willing to pay more for. The concept can be a simple as yoga, kick-boxing, etc., or you could build an actual gym with fitness equipment. Either way, the initial cost will be covered by an increase in property value.
3. Interior Improvements
The little things might seem little, but a lot of little things adds up to an unsightly property! A primary aspect of property management is maintaining the interior. This includes updating and maintaining things such as:
- Entryways
- Window Treatments
- Flooring
- Ceiling Repair
- Paint Refinishing
These are just a few of the interior improvements that can make all the difference in the value of your commercial properties. Staying up to date with current design and style trends is another way to make sure your property renovations are relevant.
4. Exterior Imporvements
Your commercial property can be beautiful on the inside, but if the exterior is an eyesore you are going to see that reflected in the property value. Exterior renovations can include upgrades such as:
- Repaving
- Landscape Design
- Weekly Lawn and Garden Maintenance
- Painting
- Refinishing the Exterior
These touches will improve your tenants experience while also increasing value. Keeping up with regular maintenance will help keep the property looking clean and well managed.
5. Thoughful Amenities
In addition to having access to gyms and fitness centers there are other property renovations that can draw tenants to your property and make them feel more at ease about spending more. Depending on your type of property you should consider amenities like the following:
- Laundry Facilities
- Viewing Room
- Confrence Center
- Coffee Room in Lobby
- Internet Cafe with Fast Speeds
- Lounge Area
These thoughtful touches are not hard to do in terms of property renovations. These upgrades make your tenants feel valued all while your property in increasing in value!
The Best Property Renovations
These are the top 5 property renovations you should consider for your commercial properties. With these upgrades you will be seeing an increase in property value in no time!
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