Adding value to your property may seem like a daunting task but it doesn’t have to be. In fact, there are some easy, cost-effective renovations you can make to your property today to help add value tomorrow.
For example, one of the most commonly overlooked renovations is soundproof windows and walls. According to the NMHC 2018 Consumer Housing Insights Survey, a whopping 91% of renters said that soundproof walls are important to them, and 92% also said they wish they had an environment that would promote better sleep. You can help to create a more peaceful sleep setting for your tenants and prospective tenants by renovating your walls and windows to prevent outside noise from coming in. On average, it can cost around $400 to soundproof one room, however this is a good investment that will add substantial value to your property.
Additionally, you can renovate your amenities by upgrading to things like electronic parcel lockers to help provide a more convenient lifestyle for your tenants. According to the NMHC 2018 Consumer Housing Insights Survey, the vast majority of renters – 63% – said their lives are so hectic that they look for ways to make things easier. Moreover, 72% expect companies to understand their unique needs and expectations. This is where electronic parcel lockers come into play.
Online shopping is booming, and apartment communities nationwide are struggling to keep up with the surge in resident deliveries and packages. That’s why many multifamily properties are turning to electronic package lockers, like those offered by Parcel Pending, to enrich their resident’s experience.
Electronic lockers enhance the resident experience by making it quick and convenient for them to retrieve their packages at a time that works for their schedules. Additionally, they also add much-needed resident personalization by making their lives easier since they no longer have to rush home to pick up a delivery from their management office during business hours. Residents also value the fact that parcel lockers keep their packages safe and secure.
What renovations do you think add value? Comment below.