Steps, Timeline, and Rules to Follow During a Multi-Unit Complex Renovation Project

Planning a multi-unit complex renovation project for a commercial property or rental community is not something that should be taken lightly. There are many essential steps you must follow prior to even establishing a project timeline. If you do not take the time upfront to work carefully through each of the steps, then your project could easily be derailed, delayed, and go well over budget.

Step 1: Decide exactly what you want to renovate.

Are you looking to change the entire appearance and décor of the unit or just make some enhancements like installing divider walls? With a multi-unit complex, it is not uncommon to have some units which will need an entire overhaul and others that just need some minor updates.

Step 2: Make a “To Do” list for each of your units.

Your project begins the moment you start building your “To Do” lists for every unit. The reason you want individual “To Do” lists is so you will know the exact quantity and types of materials you need to order for the entire project.

Step 3: Get estimates on materials and contractor costs.

Once you know which materials you need and what types of renovation work are being done in each unit, now you are ready to start getting estimates. Make sure any contractors that supply estimates provide you with their estimated timeline to complete the project.

Step 4: Create your project budget.

Once you have your estimates in order, now you are ready to create a project budget. You need to make sure you will have sufficient funds available to complete the project.

Step 5: Order your renovation materials.

It is better to order all of your renovation materials at the same time to possibly get a bulk ordering discount. Do not start renovating a single unit until you have all of your materials to complete the entire project.

Step 6: Build a timeline for your project and compare to the ones provided by contractors.

While you are waiting for your materials to arrive, you will want to start building your own project timeline. Your timeline will often be different from that provided by contractors. This is because you know the turnover on your units, which the contractor does not.

Additionally, if you are using multiple contractors, you may be able to schedule their specific work tasks simultaneously rather than one after another, which will alter your overall timeline.

This is also the perfect time to select a start date for your project. When selecting the state date, choose one that will be after you have received all of your materials and which coincides with availability from the contractors you want to hire.

Step 7: Send out announcements to your occupants.

It is a good idea to notify all of your tenants, renters, etc. of your upcoming renovation project. Make sure to include an overview of the renovations being made, hours the work will be taking place, and other such details.

8: Renovate your units.

You will want to start with any vacant units and take care of those first. From there, just stick to your project timeline and follow it until your project is complete.

Please keep in mind, this is just a general overview of the steps, guidelines, and rules to follow with planning a multi-unit renovation project. Your exact steps, timelines, and other such details can vary.

For further information about divider walls and privacy walls for your multi-unit renovations, please feel free to contact Space Plus, a division of The Sliding Door Company, at 888-869-1850 today!


How Apartment Renovations Can Improve ROI

Whether the goal is to increase rent or the demand for a property, some renovations can offer more in terms of ROI than others. If you’re beginning renovations on a property soon, it’s important to understand the impact that these apartment renovations can have on your ROI.

Identify the Reason for the Renovation

Apartment remodeling happens to either ensure future rent increases or to prepare a property for sale. Both reasons will require an understanding of market demand and value vs. cost.


Market Demand

Demographics are a great place to start with determining market demand. Older tenants, for example, may prefer an original look. Therefore, the demand in this scenario may be different from a younger demographic who may place a higher value on stylish amenities.

Value vs. Cost

The cost to renovate will depend on your budget—more on that below. Once you’ve crunched these numbers, you will need to consider whether the renovations you’ve chosen will increase property value and, ultimately, ROI or cost you more.

Determine Budget

You need to know how much money there is to work with. Once you have this number, you’ll want to consider needs vs. wants. Anything that needs fixing should be done before adding luxury items like big-screen TVs.

Top Renovations for ROI

As stated previously, some renovations can get you a higher net profit than others. That being said, here are some of the most profitable.

Adding a Bedroom

Adding a bedroom is a popular choice. However, you will earn a greater ROI by turning one bedroom into two than by adding a bedroom when there are already two or more. Therefore, a large bedroom space can be easily and cost-effectively split into two private rooms by installing frosted glass panel dividers.

Improving the Kitchen

Kitchen improvement is another popular choice. However, complete kitchen renovations can be expensive. Instead, you can dramatically change the look in other ways by installing movable panel walls between the kitchen and dining room. This can have the same visual impact as a complete renovation while adding far more functionality and versatility.

Bathroom Upgrades

Renovating a Multi Unit Apartment to Increase ROIUpgrading outdated bathrooms or adding carefully chosen amenities can result in added value. Glass walls can enclose a bathroom shower and a soaking tub can be added or a glass privacy wall can be used to discreetly and stylishly separate the two.

Money-Wasting Renovations

The wrong renovations and upgrades can end up costing you money. Avoid materials that wear poorly and show scratches and chips, as well as those in darker colors which can advertise wear. In addition, purchasing new instead of re-facing and repairing will also raise your costs, but not your property’s value.

Transform Your Property

Glass is a timeless yet trendy addition to an apartment that increases ROI. Space Plus, a division of The Sliding Door Company, offers top-quality dividers, panels, and walls, along with a wide variety of completely customizable options to suit the style of every apartment property. Call 1-888-869-1850 and claim your free consultation.