Poor Multifamily Building Maintenance Might Be Causing a Loss of Business
As we see more people building a family, multifamily housing marketing is becoming more common in the housing industry. With new builds bringing competition and old buildings maintaining structure, how are these conflicting markets affecting business? The things to consider when looking into multifamily housing range from the cost of living to upkeep and maintenance of the building and the appliances that you’ll be using during the duration of your time there. In this blog, we will be discussing how Multifamily building maintenance may be causing a loss of business.
When it comes to multifamily living, flooring is a huge aspect when considering which apartment is the right choice for you and your family. No one wants to rent an apartment with old and torn-up carpet that hasn’t been replaced in years, so keeping up-to-date on the carpet and making sure it’s replaced after each tenant is essential when it comes to building maintenance. If you have tile or hardwood flooring within the units, making sure they aren’t cracked and outdated will help potential renters to choose your location. Keeping the inside of an apartment current and on-trend is one of the many reasons future renters will gravitate toward your complex.
Depending on how long it’s been since your latest fixture maintenance walkthrough, it’s quite possible that the fixtures may be outdated (or even at times non-existent). Cabinets with no drawer pulls or handles may not be as desirable as brand the new bronze-finish style that’s been popular in new builds. Units that have been rented for a long period of time without renovations may also have residents eyeing newer builds with modern stoves, microwaves, and washer/dryer combos.
As we’ve seen rents rise across the DFW metroplex, we have seen a high churn of residents who may jump from their current residence to a newer one that will charge the same monthly rate that has the latest and greatest appliances and fixtures.
Furnishings & Appliances
It’s a widely known fact that when a family comes together it’s usually in the kitchen! So when your current and future residents gather together you want to give them a space that’s sure to impress. Updating your appliances, cabinets, and more to a more modern feel can help the inner event planner choose your community over a competitor.
Another aspect that makes multi-family living really stand out is giving your residents a sanctuary away from the hustle and bustle of the outside world. Having a bathroom with a comfortable tub and a vanity large enough to share are key components that you’ll want to think about when updating or building your community. At the end of the day, you want to make sure that your residents have a true place where they can relax and call home.
During this tumultuous time for residents and the competition for space, keeping units in a multifamily building is more important than ever. We have heard and seen multifamily residences lose residents in droves just for the lack of maintenance – which as most property managers know is one of the least desirable outcomes for a property.
Reach out to us today for a quote to recommend the best maintenance plan for your multifamily residence to keep your residents happy and attract new residents no matter the season.