As a multi-family property manager, your goal is to ensure your property is comfortable and inviting for your current and potential residents. Gaining new renters, starts with putting your best foot forward - making curb appeal a critical investment. An attractive exterior sends a clear message to responsible renters that the property is being well maintained and cared for.
As you plan how to enhance the curb appeal of your multi-family property, take a look at our top 6 upgrades that help win over potential renters and help your property stand out from others.
I. FRESH PAINT Nothing can enhance curb appeal, as much as a fresh coat of paint. The opposite can be said for a building plagued in peeling, faded paint - making it one of the first keys to curb appeal. Potential renters may not even be inspired to stop and inquire if the property looks faded and deteriorating. A fresh coat of paint can not only breathe new life into the look of the exterior, the color scheme can also change the "personality" of the property. From a fun, eclectic feel to an upscale luxury impression, color plays a huge role in the overall feel and design of your property.
II. NEW DOORS & HINGES When units feature entry doors that have nicks and dents and chipped paint, this is a quick clue for renters to look elsewhere. Even if the door looks great, functionality matters too. If it is hard to open, makes a creaking noise, or has broken hinges or door knobs, it’s time to make upgrades that appeal to renters.
III. REPLACE AGING WINDOWS New windows subtly tell renters and potential tenants about the care put into maintaining your property. Aging windows that look old and dingy, and worse are not energy-efficient provide the opposite impression. Replacing drafty, leaky windows with beautiful, energy-efficient windows saves money, creates energy efficiency, and improves the air quality inside the units, making it a worth-while investment.
IV. IMPROVE PARKING LOTS Outside of the initial curb appeal from the road, parking lots provide a first impression to potential residents. Prospective renters and current tenants both appreciate when parking areas are well-maintained, with ample space and properly lit. A freshly paved, neatly marked parking lot could be the difference between full occupancy and vacancies.
V. INSTALL NEW SIDING Just like paint, new siding can enhance the curb appeal of a property. Cracked siding is a signal that the property is not well-maintained. Siding on a multifamily property can either be an eyesore or an eye-catching positive representation of what it’s like to live in the neighborhood. Keeping siding in good shape adds curb appeal and protects the property from damaging weather elements.
VI. ADD OUTDOOR LIGHTING It goes without saying the way a property is lit makes it safer and more inviting. People who are looking to make a new home feel secure and welcome when your property is well lit, especially in the evening or on days that are cloudy and overcast. Good lighting in parking lots, porches, at entrances, and along walkways are all crucial.