Are you thinking of renovating your apartment complex? Any renovation can be a big task to undertake, but working with a multi-family property makes updating a building and units more challenging. However, there is no way to avoid many of the renovations needed over the years to keep your apartment complex in tip-top shape and your units full of new tenets.
Here at Ascension General Contractors, we want to share with you some of the things we have learned to help you figure out the best way to go about apartment complex renovations.
What to Do When Starting Apartment Complex Renovations
Making Your Plans
In your planning stage, there is a lot you’ll need to cover to ensure your renovation plans are completed to your satisfaction. From making your budget to ensuring your timeline is accurate and expected, the planning stage is essential to success. Remember that major renovations will usually take 20 percent to 30 percent more time to complete than you think and you should also plan to increase your budget by that amount in case there are any unforeseen challenges or complications during construction. Additionally, use this time to ensure that you get all permits and licenses needed for the project.
Selecting Your Contractor
Once you have a plan in place, you’ll need to reach out to a contractor to make the renovations on your apartment complex. Beyond checking insurance, licenses, and reviews, look at the past work of the contractors you find to make sure they have experience with the type of renovations you are looking to complete. Renovating an apartment complex is a big project, and a professional contractor will be able to answer any questions that you may have and give you accurate information to move forward with the project. As a best practice, try to get three estimates for the project from three different contractors to compare. In the end, trust your gut on who you think is best to complete the job and who you know you can work well with.
Managing Your Tenants
Sometimes, you may have to make necessary renovations with tenants still in your apartment complex. As a landlord, you’ll want to make every effort to ensure that you minimize the disruption or inconvenience caused to your tenants. During these updates, you need to keep your long-term relationships with your tenants strong. Be sure to familiarize yourself with all legalities surrounding renovations with tenants still on your property and keep your tenants informed and involved in the process! They will appreciate the open communication and are likely to feel more comfortable throughout the course of the project.
Are you ready to make apartment complex renovations? At Ascension General Contractors, we are committed to completing renovation and remodeling projects in a timely and professional manner. We are a full-service general contractor and proud to serve Nashville business owners and operators.