Apartment Buildings Need Curb Appeal, Too
For people selling homes, one of the most important pieces of real estate promotional advice is ensuring a property has good curb appeal. However, this rule applies just as much to apartment buildings if you want to keep your vacancy rate low. But how do you maintain curb appeal with something as large as an apartment complex? Here are three factors to keep in mind.
Maintenance Still Matters
Just as with a home, the state of maintenance on an apartment building makes a big first impression. A building with obvious, unaddressed defects, like paint chipping, doors in disrepair, or damaged roofing that looks like it could admit water during rains, will drive away many potential renters before they even set foot in the door.
Far more than private residential properties, rental properties with clear, functional lighting can be important, especially for larger apartment rental complexes. The reason for this is simple: greater safety. Well-lit public areas mean there’s less chance of criminal incidents since good lighting means high visibility and thus a greater chance to be identified. Apartment buildings with good lighting are more aesthetically appealing if arranged creatively, but it can also mean more safety for residents in common areas, such as parking.
A final factor to consider is how clean the property is. This is not just a matter of maintaining aesthetic appeal; it can also be critical to avoiding legal liability. For example, branches that have fallen from trees and landed in an outdoor stairwell could pose a risk to residents coming up and down the stairs slipping and falling. Since keeping the stairwell safe is the property owner's responsibility, any accident arising from an uncleaned mess could leave property management vulnerable to litigation. As with maintenance, this also contributes greatly to curb appeal since a dirty-looking complex often hints at neglectful management.
If you want to make sure that your curb appeal is part of a solid return on your property rental investments, contact Occupancy Solutions and let us help.