Multifamily Renovations

Multifamily Renovations

RenovationsPlus understands that an upfront investment in renovations can transform your property’s look, yielding significant returns. As the innovative leader in large-scale multifamily and commercial interior/community space renovations, we transform your property with expert solutions through total project management backed by the power of The Home Depot®.

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Reasons to Invest in Multifamily Renovations

Currently, the multifamily housing industry has 38.6 million residents with growth predictions of 7 million residents over the next decade.1 Stay relevant in this booming industry by investing in strategic renovations. As new multifamily properties rapidly enter the market, it’s critical for existing properties to maintain a competitive edge by renovating aesthetic features, structural elements, and amenities. Not only that, but renovations are a solid investment to grow revenue and increase property value.

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Let's Get It Started: A Guide to Apartment Renovation Success

Renovation success means understanding the market you serve. The multifamily housing industry serves more than 38 million residents in the United States.1Of this, the majority are part of two massive generations, baby boomers and millennials.1In order to stay relevant with these groups, invest in renovations that modernize and upgrade in-unit features and property amenities.

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Ways to Boost the NOI of Your Rental Property

Net Operating Income (NOI), defined as the difference between total revenue and total operational costs, is a key determinant of the health of a property and the multifamily industry. Because of strong fundamentals in demand and pricing, NOI is enjoying an upward trend across the industry.More NOI means more cash available for renovations and capital improvement projects, which can translate into more perceived value in the eyes of current and potential residents.

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Remodeling Your Units Without Wrecking Your Budget

Staying on target with your multifamily renovation budget can be difficult, especially when budgets are tight. Before committing to renovations, determine your required return on investment (ROI). Renovations usually have a lifespan of five to 10 years.1 Your required ROI helps determine the level of upgrades you can afford right from the start.

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Winning Strategies for Managing Your Capital Project

Capital improvements preserve property value and, in many cases, increase rents, reduce attrition, and lower expenses. Well-managed capital projects can be a smart investment for property owners. The key to any successful project is to first understand what project management strategies work best.

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The Future of Multifamily: Trends to Track

The multifamily industry continues to grow and change. Disruptive shifts in demographics, technology and lifestyle changes of residents are shaping the future. Paying attention to trends within these shifts will help you become more predictive, proactive and subsequently, more competitive.

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Photo Gallery: Before & After

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The information provided in these articles do not, and is not intended to, constitute legal advice; instead, all content is for informational purposes only. These articles do not create an attorney-client relationship between the reader and Home Depot Pro. You should consult your attorney to obtain advice with respect to any particular legal issue or problem.