If you own a multi-family building and are looking to attract potential tenants to rent out your spaces, you must keep up with the remodeling trends they’re interested in. It’s the little details that will make your property stand out from the rest!
The following remodeling trends are details that potential tenants will keep an eye out for. Most of these trends are affordable updates that will improve the quality and overall value of your space.
1. Wallpaper
Wallpaper is an excellent and affordable way to modernize your decor and make a statement in your space. This is a popular trend that would be a perfect accent for a clubhouse, lounge, or other common areas. Additionally, if you can learn how to hang wallpaper on your own, this will be a more cost-effective decor solution for your space than hiring a professional painter, or even interior designer.
Wallpapers are now available in a variety of materials in addition to paper, such as vinyl and fabric wall coverings. With the growing popularity of wallpaper, choosing a wall covering that meets certain environmental, economic, and social standards can earn LEED credits. This is because choosing wallpaper over other wall decor options has the potential to reduce air contaminants that can negatively affect the health of individuals in indoor spaces.
Additionally, many tenants are finding creative ways to customize their rented spaces using wallpaper that will be easily removable upon moving out. A multi-family building that allows tenants to hang wallpaper will be a very appealing feature to many potential renters.
2. Board and Batten Shutters
Board and batten shutters are definitely a hot trend at the moment for any type of property, from homes to multi-family buildings, to larger apartment buildings. They can be a great way to freshen up the exterior of your multi-family building. They’ll also appeal to potential tenants looking for a combination of classic and trendy styles.
Board and batten shutters are highly customizable, too, as they come in a variety of shapes and colors. Opt for a classic neutral color scheme with black or brown shutters, or create an eye-catching look when you choose a brighter color that will complement the overall look of your building.
3. Magnetic Acrylic Soundproof Windows
Magnetic acrylic soundproof windows are a type of storm window that is installed over the existing window pane in a space. They are held in place by a magnetic strip and create an airtight seal. This seal creates a layer of air between the two windows which can soundproof a space by distorting any sound that comes through the existing window. Additionally, magnetic acrylic windows can contribute to improved thermal insulation as well.
The feature of magnetic acrylic windows in your rented spaces will be extremely appealing to potential tenants, especially if your multi-family building is in a busy location with a lot of outside noise. And of course, everyone enjoys saving money on their electric bill. So, added thermal insulation to prevent heating and A/C from escaping through drafty windows is an added bonus.
Installing magnetic acrylic windows in your space is affordable, and if you own an older building, this will be much more cost-effective than completely replacing the windows. It will also convince your tenants of a few key points:
- You care about the quality of life of your tenants.
- You’ve taken the time and money to provide necessary and useful updates to your space.
- You’ve put thought into the design, functionality, and quality of the space.
4. Dutch Lap Vinyl Siding
Dutch lap vinyl siding is meant to resemble the hand-carved wooden siding used on houses and buildings during the Colonial era. Its origin makes it suitable for east coast buildings, especially in the northeast where inspiration from colonial-era architecture and design is very common and appealing.
Dutch lap vinyl siding features overlapping horizontal rows which create shadows, an interesting detail that will bring attention to the exterior of your space, as compared with flat siding that contains no texture.
Vinyl siding is also very durable, making it a worthwhile investment that will last for years to come. It is also easy to clean with a simple powerwash, which will keep your building looking fresh and new over time.
5. Brick Accents
Industrial decor is all the rage right now, and space with brick accents will make potential tenants swoon. If you’re lucky enough to have space with exposed brick on the interior, take advantage of it! Select decor that will complement an industrial style, and draw attention to the brick. Or, if you’re going for a more neutral color palette in a clubhouse or lounge space, you could paint the brick white.
If you don’t have brick accents in your space, you can easily add them using wallpaper as described above. However, you’ll want to take care to apply the wallpaper properly to avoid noticeable lines or uneven patterns to make the brick pattern look as authentic as possible. This is another reason why allowing your tenants to hang wallpaper will be appealing.
Alternatively, you can also create a faux brick wall using brick panels, or by installing thin brick flats as you’d install real brick. Brick flats are probably going to be the most authentic-looking option and most appealing in a rented space. Brick accents and industrial-style decor will be most appealing in urban settings.
Why Should I Add Remodeling Trends To My Multi-Family Building?
The remodeling trends described above are cost-effective ways to increase the value and appeal of your space. It’s no secret that tenants shop around to find the space that best fits their style and needs, and the above trends just might persuade tenants in your favor by showing them that you’ve put thought and care into their future home! If you’re looking for more ways to improve your rental property, an experienced property management company will guide you through the process and help you get the best return on your investment.
Sam Willis is a contributor to Innovative Building Materials. He is a blogger and content writer for the real estate industry. Sam is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that increase property value, maximize energy savings, and turn houses into homes.