Having worked on the owners’ side for over 10 years, we have a unique perspective and refined process to ensure success when approaching a multifamily renovation project.
This is why a large portion of our clientele asks for us to handle all of their properties after our first project. Value add or purchase and hold, we will develop a design strategy to get your project completed on time, on budget, with the biggest return on asset value.
1. Research
We research the property ahead of time to understand the basics–number of units, age of the property, comparable properties within a 2-mile radius, as well as the top of the market properties within the submarket. We want to know what the units rent for so we can assess how to zone in on the existing condition of your property in order to reposition it in a way that makes the best use of your budget.
2. Initial Call
We’ll have an initial call to discuss the benefits we bring to the table, such as being a design team that understands the investor owner’s side of the process with the ability to create asset value for their properties–existing assets and ones they plan purchase along the way.
3. Onsite Visit
We’ll schedule an onsite visit to meet with either the owner, regional manager, asset manager and the property manager. During this visit, we’ll sit down and discuss your needs, strategy, and budget. We assess overall property condition and ask questions about the current year’s capital expenditures so we can plan around them accordingly. We’ll walk the property to visit all areas in need of attention including exterior paint, model unit, clubhouse, fitness center, dog park, laundry rooms, interior units–whatever the project entails. During this time, we’ll snap pictures and take notes.
4. Local Research
After our onsite visit, we’ll drive around the submarket and get a feel for the neighborhood. We’ll shop the direct comparable properties as well as one or two that are superior and top of the submarket. We’ll view the clubhouse and leasing center, walk the model unit and a vacant unit, ask about their interior upgrade plans and view the finish outs, gather rents on non-upgraded vs upgraded units, and drive around the property to assess existing conditions from our perspective.
5. Estimate
Once we’re back to the office, we’ll come up with an estimated budget proposal for your project(s). Once the estimate is accepted and the initial payment is submitted, we’ll begin the design phase.
6. Design & Revisions
After we complete the design process, we’ll send you line item specs, images, digital mood boards with these specs, and the associated costs. We’ll have a meeting or call with the stakeholders to review and refine as needed.
7. Project Management
When the project is ready to begin, we’ll communicate with key decision-makers and contractors, if necessary, to ensure the project is fully understood and all tasks are completed in a timely manner. We make sure the project gets done according to your timeline and needs for overall efficiency. At the end, we follow up to make sure everyone is happy.
8. Completion
We’ll come back to the property to take after photos to showcase the amazing transformation!
Ready to get started on your exterior paint, clubhouse, model unit or another renovation project?
Schedule a free, no-obligation consultation with us today so we can go over our approach in more detail.