Ever wish you had a second chance to make a first impression? In the world of commercial real estate, that first look is vital. When a potential buyer or tenant pulls up to your property for the first time, little things mean a lot.
A good first take can deliver a higher selling price or increased rent. However, you don’t have to break your budget to clean up your property. Industry statistics confirm that. You can add great value from updates like a new coat of paint, freshening up the landscaping or fixing up an old fence.
Here are five suggestions that will liven up common areas of your property at a reasonable cost, and add value to your multifamily property
A New Coat of Paint
A new coat of paint can make a world of difference. If a complete paint job is too much for your budget, painting only the doors and window trim in a pleasant and complimentary color can also boost curb appeal while decreasing expenses.
Neutral and understated is the best choice when it comes to choosing paint colors. That new, fresh look will also please your existing tenants, resulting in higher and longer occupancy rates.
A Well Manicured Lawn
A patchy lawn full of weeds will mar the overall upscale image of the front yard of a property. If you can afford to, put sod on empty patches or areas where lots of weeds grow. Be sure to water any new sod or new seeding every day for the first 10 days.
After you’ve seeded the yard, cover the seeds with peat moss. Don’t use straw, it’s full of weed seeds. This can cause weeds to grow along with your new grass.
For the rest of the investment property, a good lawn care service is not too expensive, and the results can be amazing. Cut and edge regularly (weekly, in high growth seasons) to maintain a neat, manicured appearance. Even a lawn with a few weeds here and there looks great when it is newly cut, edged and trimmed.
Appropriate seasonal fertilization and aeration will keep the lawn healthy. Over time, your lawn will become one that potential buyers and renters will admire.
Spruce Up the Yard
Nothing adds more to the overall beauty and ambience of your property than a stand of healthy trees. Trees look great on your property but failing to provide regular care and maintenance will reduce the lifespan of the tree.
A good arborist can keep your trees healthy by providing the right annual trimming and feeding at a very reasonable cost. An arborist is significantly less expensive than the removal of a dead tree. Not to mention the possible liability issues if a tree falls anywhere on your – or your neighbor’s – property.
So take care of your trees and they will improve the curb appeal of your property. Highlight their beauty by adding some benches or a small picnic area in their shade. Doing so will be a surefire way to increase your rent and property value.
Fix Old Fencing
An old, faded fence can be a drain on your property’s curb appeal. If it is leaning or broken, it can even lower the value of your property. Hire a professional if it needs repair. They will know how to replace broken boards correctly, keep the fence straight, and properly aligned.
Power washing and a new coat of paint or wood stain can help to freshen up a fence that is already in good shape. It will look like new and stand for several more years providing security and privacy for your tenants or potential buyers.
Freshen Up the Landscaping
As with landscape design, the trees, condition of the shrubs, bushes and plantings around your property speak volumes to potential buyers or tenants. Remove old, broken plants and replace them with young, greener ones. Plants at big box home improvement stores are usually very competitively priced.
However, call the local nursery if you can afford to. They will be happy to handle all of your planting needs. Give a nice trimming, and fresh mulch to any existing plantings that are in good shape. The mulch keeps the plant roots moist while highlighting their beauty and adding rich color contrast.
Partner With Lynchburg Commercial Landscaping (CLC)
Whether you need your lawn meticulously cared for, or your plantings freshened up – CLC can get the job done right. Their commercial landscaping service pros can add curb appeal to your multifamily property. Partner with CLC, Incorporated today to increase the rent and sale value of your commercial property.