We consistently look at apartment buildings and one constant theme is the poor condition of entryways and communal spaces.
Outside of servicing maintenance requests in a timely fashion, one of the biggest things owners can do to show tenants they're not sardines living in a box is to have incredibly nice common areas.
Common areas and entryways are often the first things people see when entering a building and are a reflection of you as the owner.
You want residents to be proud about their space and feel cared for.
Small things like:
-FF&E (Furniture, Fixture, Equipment): Choosing quality light fixtures, furniture, art, mailboxes, you name it.
People can sense cheap, don't stick a recycled light fixture from a previous project on the ceiling.
Nobody wants to get rained on while grabbing mail- make sure that doesn't happen.
The buildings we target don't have amenities such as pools or workout centers but the same concept applies.
-Cleaning: Having these spaces polished on a scheduled basis- straight forward but make sure that air duct 15 feet up on the ceiling is getting hit.
-Landscaping (you can actually add value to your property here): First, cut lawns and trim trees on a scheduled basis.
Next, get creative if you're able to.
A few well placed shrubs, trees, and (quality) outdoor furnishings can change the entire feel of an outdoor space.
Nobody wants to get splinters from a cheap bench while sitting in direct sunlight.
If they do, you're planting a seed of resentment and probably less likely to get that renewal request many months before the lease expires.
-Security: Straight forward but crucial.
Exterior surveillance cameras, night-time security lights, walkway lighting, etc.
You don't want people walking in the pitch black.
These little things can be a driving force in keeping residents happier and renting from you longer.