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Frank Roessler on Multi-Family Property Design Trends

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Renters can be tough critics, but the key to successful multi-family properties is having people actually want to live there. Frank Roessler from Ashcroft Capital discusses three design trends that are all the rage in multi-family properties.

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Frank Roessler on Multi-Family Property Design Trends

  1. 1. DESIGN TRENDS FRANK ROESSLER MULTI - FAMILY PROPERTY
  2. 2. When it comes to doing upgrades on real estate investment properties, some upgrades will allow you to charge top prices for your rentals, attract the highest quality tenants and ensure your properties never sit empty for long. Conversely, however, there is always going to be a natural cap set by the market as to what you can charge. The goal is to do smart upgrades that will bring you the best ROI. Here are 4 multi-family design trends to help you have the most in-demand building on the block.
  3. 3. SMART HOME FEATURES Smart devices like smoke alarms & CO2 detectors, thermostats and even smart door locks are becoming more and more economical and even easy to install. Not only can they help you command a top price for your rentals, but they can also help you better manage them when or if they are ever empty. Smart door locks, in particular, tend to pay for themselves over time because you don't have to replace the locks every time a tenant moves.
  4. 4. COMMON AREAS In a world that is becoming increasingly connected, humans are feeling more disconnected than ever before. Human beings, on the whole, tend to experience a deep longing for community, so providing areas for them to gather together can have a significant value. Some high-value communal areas include space for a community garden, a co-working space for the rising number of people working from home or even picnic tables and a grill.
  5. 5. MODERN KITCHENS AND BATHROOMS Kitchens and bathrooms are not just utility spaces, but areas where tenants will spend a great deal of time performing a wide range of daily tasks. They need to not only be beautiful but functional. You might be surprised at how much turnover you can have from tenants from really simple inconveniences like always having to close one thing in the kitchen before opening another. Today, there are a wide range of design options to make even the smallest spaces supremely functional, so take advantage of them.
  6. 6. STORAGE The self-storage industry in the US is a $38 billion a year industry that offers more than 1.7 billion square feet of personal storage space. People have a lot of stuff and no matter how avidly they adhere to Marie Kondo's principles, they still want places to store their extra stuff.
  7. 7. THANK YOU READING! FOR MORE GREAT REAL ESTATE CONTENT: @Frank_Roessler on Twitter AshcroftCapitalRenovations.com FrankRoessler.net

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