Design Trends You Need in Your Multifamily Property

Source: Elle Decor

Source: Elle Decor

While having your updates and renovations be cost effective is always a priority, you also want them to stand out from the competition to draw in prospective tenants. By incorporating new design trends into your units you will be able to catch the eye of tenants and create a timeline look for years to come. Here are a few of our favorite design trends to incorporate into your multifamily property:

Dark Cabinets

While the majority of properties keep their cabinetry some sort of wood finish, you can stand out from the competition by incorporating darker cabinets. We would suggest something like a navy or charcoal black cabinet. This will give your units a sleek, modern feel helping to increase the value add and rental prices for each of your units.

Two-Toned Cabinets

Another option you can try with cabinets is a two-toned look. Not only is it on-trend but it also adds dimension, giving your kitchen an elevated, modern appeal that others in the area may not have. We recommend going with darker cabinets on the bottom and white or a lighter color on the top. The different colors will create a strong visual contrast to make your property’s kitchens pop!

Pendant Lighting

While lighting might seem like a minor detail, it can really pull a space together. Strategically placed pendant lighting over a breakfast bar, kitchen island, or dining room table can be a great way to add a unique touch to your units. There are plenty of options choose from meaning you can find just about anything to work for your property.

Dark Walnut Colored Floors

Replacing carpets between residents can become rather costly over time. Opting for a wood laminate plank or a luxury vinyl can give you the same feel of hardwoods for a fraction of the cost helping you avoid the continued cost of replacing carpet. We love a dark walnut color for an instant luxurious feel in your units. The darker floors will contrast nicely with traditionally lighter colored walls or even a colorful accent wall if you opt for that. Future residents will happily pay a premium for the elevated look of hardwood floors.

Shaker-Style Cabinets

Clean, minimalist design isn’t going away any time soon if you ask us! If you’re doing upgrades to your unit kitchens, consider using shaker-style cabinets. These provide clean, modern lines future residents will love. Plus, you can get them in a variety of colors to suit your property’s style.

Waterfall Edge for Counters

If any of your units have a peninsula or island in the kitchen, you should consider upgrading the countertops to have a waterfall edge. The feature has been featured in upscale properties across the country and will definitely help you attract a higher rent per unit.

Out-of-the-Box Backsplash

It’s easy to install standard backsplash in your units but that doesn’t do much to help make your property memorable or modern for residents. You don’t have to go crazy but trying something with a geometric pattern will combine a graphic interest with a classic outline making your property stand out from the rest.

As you can see, there are several trends you can incorporate into your property to help give an updated, modern look to your units. While some may have a larger upfront cost, they will all help attract a premium rent boosting your bottom line. Interested in including any of these trends in your renovations? Contact us today!

Part II: 3 Tips for Completing Your Multifamily Property's Rebrand

In Part I of this blog series, we addressed some of the signs that you might want to consider rebranding you new multifamily property including:

  • Your multifamily property currently doesn't have an identity
  • You want to improve the previous poor reputation
  • You are planning on renovating or adding amenities to your property
  • Your revenue isn’t where you want it to be and you want to attract a higher price point
  • You’re losing tenants to nearby competition

Now that you’ve decided it’s time to rebrand, we’re sharing our top tips to make your property image overhaul a smooth and successful process.

Know your community’s strengths and define your target market

Your community’s strengths are essentially what makes your property unique compared to your competition. Maybe your property has a perfect location or you offer amenities that other nearby properties do not. Whatever it is, knowing your property’s unique value proposition is paramount when it comes to rebranding and appealing to your target market.

Similarly, you’ll want to consider who you are targeting with your new property image. Young professionals? Families? Students? By defining your market, you can build your new brand with this audience in mind. Not only will this help with your new marketing plan but this will also help when it comes to renovations.

Cosmetic repairs are important in rebranding your multifamily property

Most rebranding projects also include some renovations. This will ultimately help attract more future tenants in renting out units of your multifamily property. To evaluate where your property needs the most updating, take a quick scan and evaluate what your target market values most. This will help guide your renovations. Typical renovations that are included in an image overhaul include:

  • Paint schemes (interior and exterior)
  • Clubhouses
  • Outdoor living space
  • Leasing center
  • Fitness center
  • Model units
  • Common areas
  • Business centers

Don’t forget your landscaping. While repainting the exterior of the property improves the overall impression of the property, you should never overlook your landscaping. Pair a freshly manicured lawn and beautiful landscaping with a new coat of exterior paint and your property will certainly stand out to future residents.

Hire experts to set your new brand up for success

There are a lot of moving pieces when it comes to an image overhaul so bringing on help to handle each of these pieces will not only alleviate some stress but also help set your new brand up for success. You’ll want to consider hiring:

  • A graphic designer to help with your new logo and marketing materials
  • A copywriter for your marketing materials and website copy
  • A photographer to take quality photos to show off all the new improvements you’ve made to the property
  • A design renovation firm to help coordinate all the renovations that need to be done

Hiring these professionals can help with some of the heavy lifting so that you can focus on getting the best ROI for your property.

If you’re looking for help with your property image overhaul, contact us today!

Easy Ways to Decorate Your Clubhouse for the Holidays

With the holidays just around the corner, now is the perfect time to talk about how getting in the holiday spirit can make an impression on your current and future residents. How can you do that? We’re talking about adding some cheer and happiness to your clubhouse! You don’t need to go all out and spend a huge chunk of cash either. A little decorating can go a long way making your clubhouse feel fun and festive throughout the holiday season. Let's take a look at how you can achieve this in a simple, tailored and cost effective way.

Touches of nature always look cozy and inviting. I love blending natural elements with a clean monochromatic color scheme of white, black, silver and gold metallic. This way, you can have some fun with bolder colors by adding décor pieces with vibrant tones. This will help create an overall balance that combines minimalism with a certain depth and sophistication. It’s important to keep it looking clean and fresh yet festive without creating a cluttered environment. Get inspired with these standard, inexpensive items that can be styled in a variety of ways:

  • Natural wood accessories
  • Magnolia or Fir tree wreaths. Keep it natural or spray paint it to add some pizzazz
  • Rustic lanterns
  • White candles – tapered, votive or standard sized
  • A white colored fir tree garland or a pre-lit spruce tree garland
  • A bright message banner in metallic colors
  • Pine cones, tree branches, bright berries, and/or mistletoe
  • A variety of fun ornaments – vintage, modern, fabric, glass – mix it up! As long as they are colorful and unique
  • A variety of glass jars, vases, and votives
  • Decorative natural or metallic bowls, cake stands, and decorative platters

An easy way to add a touch of the season is by filling the vases, jars, bowls, or platters with different decorative elements that reflect the holidays. For Thanksgiving, consider filling them with unshelled nuts, dried wheat, small gourds, ornamental corn, and even bundles of twigs. For Christmas/Hanukkah, you can fill these with anything from ornaments, pinecones, holly or berries, and other greenery (use plastic greenery that you can use year after year to save on cost too!) to candy such as candy canes or ribbon candy.

Placing these around the clubhouse on various tables and on your mantel (if you have one) will add a touch of the holidays and create a warm and inviting space, which is what the holidays are all about! It is important while decorating for the holidays to also keep your colors and tones in mind. Selecting neutral tones for decorative pieces that are metallic, white, or neutral wood tones can be a great option for creating an inclusive feeling no matter which holiday your residents celebrate!

A wreath is another easy decorative element that can be changed for each holiday. You can easily change the ribbon or add ornaments, pinecones, burlap, faux berry branches, or greenery to take your wreath from holiday to holiday. Hang it on the front door to your clubhouse to welcome residents and future residents in a festive and easy way!

A few other fun, cost effective ideas?

  • Line any doorway with a pre-lit Spruce or Pine garland to create a welcoming walkthrough
  • Fill a cornucopia with small pumpkins, gourds, and dried wheat
  • Line the front door with piles of pumpkins and gourds
  • Add Mums and potted croton to fill in the color at the entrance
  • Dress up your fireplace with greenery and festive votives
  • Tie ribbon around pillows to transform them into presents

Not only is changing up your decor an easy way to get in the holiday spirit, but it may even inspire you to host a resident event! You could host anything from a gift exchange to cookie decorating to a cocktail hour. Hosting an event is not only a great way to show your appreciation for your residents but it is a great opportunity to get to know your community members in a fun and informal way.

If you are looking for some help transforming your clubhouse for the holiday season and beyond, contact us today for a consultation.