6 Apartment Renovation
Ideas to Increase
Your Occupancy Rate

Getting the most out of your multi tenant housing facility all hinges upon your tenants doing the same, so keeping them happy is vitally important to securing as much income as possible. Better amenities and facilities make for better and more abundant tenants, which of course also makes for more buck for your bang. The road to riches is paved with renovations, and giving a facility a wholesale reboot can lead to the realtor success that you're searching for!

From the quality apartment signage for a stunning first impression to giving your tenants all the comforts of home and beyond, a renovated multi tenant housing facility can turn any apartment, condo or dorm into a mansion on Main Street. Here are just a few of the ways that a property facelift can turn your residence into the place to be, and kick a lack of appeal to the curb.

Apartment complex with a walking path by a pond.

1
Make a Grand Entrance

Before prospects step through the door, your apartment or condo should make one heck of an entrance of its own. This means a lot more than just the foyer, however, something which many property investors forget. The first part of any multi tenant housing facility renovation starts at the curb, and it's this entry point that will set the tone for the whole environment.

Before you try to show off what's inside, make sure that the parking lot is clear, clean, and ultimately inviting. Gravel and concrete should be leveled and smooth, while potholes should be permanently banned from the premises. This way, prospects will feel that the property is calling out to them and that the welcome mat has been laid out. If there's prominent grass or other curbside growth surrounding an apartment, or more likely, a condo, this greenery should look impeccable. Finally, set out a new a-frame sign to welcome new prospects at your property management office.

Incorporating these elements presents the aura that the community prides itself on appearances and wants to maintain a certain standard of presentation and cleanliness.

2
Modern Signage

As they begin traversing what could be their new home, your prospects will need to know how to get around. The right modern apartment signs are the number one way to familiarize guests with the hallways and rooms that could become an everyday part of their lives, as well as give a bit of exclusive character to your multi tenant housing facility.

For larger apartment or dorm complexes especially, you're going to appreciate having new apartment signs. Door number signs for apartments, directional signs, and even door identification signs are a vital part of knowing where to go for a prospect-turned-tenant. These and other types of wayfinding signage should all be as accessible as possible so that you can accommodate occupants of all abilities and needs. MultiHousingSigns.com promises that all of our signs are compliant with the ADA, so you'll have no uncertainty when it comes to being inclusive.

Fire safety signs are another big deal since you'll want prospects to feel at ease in the event of an emergency. Evacuation maps should be placed throughout the facility to help assure them when something goes wrong. The same goes for elevator signs, which will remind tenants to use the stairs in case of fire. Photoluminescent stairwell signage can glow in the interior stairwells no matter how dark they become. These safety signs will help point your tenants to the nearest egress, even if the power goes out.

Apartment unit door with unit number sign.

3
All-Star Appliances

Putting on the ritz shouldn't be something you do once for a tour: it should be in your tenants' grasp to do every day! Start with appliance amenities that make prospects feel like they'd be living in the lap of luxury 24/7. In other words, rusty, crusty, and old fridges and ovens should be promptly thrown out, not to mention other kitchen appliances that match in only the worst ways. It's tempting to try to throw a proverbial fresh coat of paint on these by wiping them down and tuning them up with quick yet temporary fixes, but in the case of big appliances, this is only prolonging the inevitable. It's a much better idea to go ahead and invest in new top-of-the-line appliances that give off a sense of value, not bargains. This way, prospects will get a sense that the realtors care about who lives in their facility, as well as how much they enjoy the experience.

While larger apartment complexes and dorms will have their own laundry facilities, smaller ones are perfect for adding washer/dryer connections of their own. These automatically increase the value of a rental property, and going ahead and installing these appliances can do that even more. Likewise, prospects will feel that the hassle of worrying about laundry is already a little easier, potentially swaying their living decisions. More energy-efficient appliances can also be both environmentally and economically smart for you and your tenants.

4
Fine Flooring,
Finer Dining

The same goes for the countertops in the kitchen/dining room area. If they look like something that crawled out of the '80s, don't even think about asking top-dollar for it. Instead, take the money you probably thought you'd be saving and get some high-end countertops to make your apartment look stylish and scintillating to anyone who walks in. The best materials are cement or quartz, but granite is a more affordable option that's still classy.

Other amenities you should look into for apartment, dorm, and condo renovations include the fixtures and flooring. The best route to go with for flooring is engineered wood, as no matter what material you use, it'll typically add value to your rental property. Carpet, on the other hand, comes with a handful of hassles, and the worst kind can make your multi tenant housing feel dated or cheap. Even if you keep it up to date, carpet often has to be replaced after each tenant moves out, especially if they leave any persistent stains. Though some might prefer carpet, it's best to circumvent its issues altogether and give your floors a glossy, luxurious veneer.

With fixtures, most people assume that this category involves lighting. Obviously, you'll want to make sure that your chandeliers and ceiling fans are top quality, as these aspects have both an aesthetic and practical function. For instance, in the event that air conditioning units go on the fritz, ceiling fans can help cool off tenants until you quickly handle the problem. You will also want to consider updating any fluorescent light fixtures with recessed lighting for a more modern look.

Fixtures involve other aspects like door handles and windows, as well. Though they might be forgotten due to just how vital they are every day, this is why you should want the best of the best for your housing units. Tenants may gloss over them eventually, but when they're first looking at apartments or condos to move to, a glossy and chic set of window coverings and door handles will set the tone for the rest of the tour. Going a few dollars further for the nicer wood window blinds or post-modern metallic door handles will lavishly attract tenants and increase your property's value. The majority of these upgrades are tax-deductible, so in the long run, they more than pay for themselves.

5
Flush Away
the Competition

One room that absolutely has to be modernized, clean, and approachable in a multi-tenant housing facility is the bathroom. Many of the renovation rules for other rooms apply here, namely flooring. Your tiles should go along with the rest of the restroom's decor, and preferably be as current as possible, both in the application and style. The same goes for a bathtub that should be recaulked, though more modern abodes might eschew these for stand-in showers. No matter what type of tub you offer, it's a good idea to have some sort of shelving built into the wall. This way, tenants won't have to blindly grope for their body brush whenever water gets into their eyes.

Nothing says style more than a brand new sink, and a voguish sink cabinet will provide convenient storage space and look glamorous while doing so. Modern vanity mirrors with decorative frames immediately spruce up the room, allowing tenants to elegantly get themselves ready for any occasion. They'll need the proper lighting for this since no one wants to get dressed in the dark. Mirror sconces and other modern lighting can cast the perfect amount of illumination on any situation, allowing tenants to make their way throughout the bathroom while setting an ambient mood. While you can likely make do with simply sprucing up current toilets, it wouldn't hurt to go all out and replace what you have. Installing water-efficient toilets can add another modern touch to perhaps the most important part of any home. Be aware that low to mid-range renovations for bathrooms are a better long-term investment than upscale remodels, however.

6
Unforgettable
Facility Amenities

Reliable Wi-Fi is more and more becoming a necessity in living facilities, including apartment complexes. This amenity can either be optional or included in the rent, but if you want it to be a valuable feature, make sure that it's worth logging into. With multiple tenants and families getting online to pay bills, surf the web, game, or stream, you'll need to provide them an internet connection that's secure, speedy, and not prone to shutting off during inclement weather.

The same goes for amenities such as recreation rooms and gyms. If you're going to have these features, go all out! Ping pong, pool tables, darts, and cornhole sets in your community areas bring in most weekend warriors, but there are tons of different additions to your rec room that'll turn into a veritable boardwalk arcade. Table hockey and foosball tables are another way to bring the carnival to your multi tenant facility's second floor. If you've got gamers on the property that want to brag about high scores, 1Up arcade cabinets are widely available from most retailers, allowing you to bring multiple arcade hits from yesteryear into your community area. While some of these options might be slightly pricier than others, they're a great way to set the fun bar higher than the competition. If the rec room in your apartment complex or college campus is big enough, you can also invest in some relaxing leather sofas or even a few hammocks to let tenants swing their days away.

For those wanting to shred pounds and pump iron, it's a huge boon if they don't have to go far to get gains. Having an on-site gym with all of the trimmings could be a make-or-break feature, so get more than just a few light dumbbells. Tons of weights, punching bags, ellipticals, bikes, and fitness mirrors will give tenants all the options that they need to stay in shape and on top of their fitness. It could also be what makes them shred their gym membership card and trade it for a key to their new apartment or dorm.

All in all, the cost of your renovation needs will be determined by the current size of your multi tenant housing facility. If you have the room and means to go ahead with these full-scale revamps, you can look forward to recouping an average of 50% of what you put into the project.

To take stock of all that you need, use our room-by-room checklist to see which amenities in your multi-family complex are in desperate need of a revamp. From there, you'll want to check with local ordinances and get with an inspector to understand all that you're legally able to do. If you have any further questions specifically involving signage, MultiHousingSigns.com is here to help make your renovations as easy as possible and your property as welcoming as possible to future tenants.

If you would like to shop for new wayfinding signage, we suggest starting by browsing our Apartment Signage products.

6 Apartment Renovation Ideas to Increase Your Occupancy Rate

1Make a Grand Entrance

2Modern Signage

3All-Star Appliances

4Fine Flooring, Finer Dining

5Flush Away the Competition

6Unforgettable Facility Amenities