If you are deciding what to do with a building that is now defunct, apartment redevelopment is a safe and smart choice, since people will always need a place to live. However, it is important to keep in mind that your potential tenants have many choices when deciding where to rent an apartment. In order to be competitive in today’s market, consider offering extra amenities for the individuals and families who live in your building. If you are a new landlord, it may be helpful to solicit advice from an experienced professional, such as Steven Taylor landlord.
Offer a Gym
Your tenants will appreciate having a gym available in the building where they live. The amount and variety of equipment you provide will depend on your budget and the amount of space you have available. At a minimum, you should plan to have a few cardio machines, dumbbells, and a television or two. Whether you choose to charge tenants an additional fee to use the gym is up to you, but that cost should be fair and reasonable based on the size and types of equipment available.
Provide a Pool
Your tenants with small children will be especially happy to have a pool available at their apartment building. The pool can be a source of great entertainment and fun for families. If the pool is large enough, your adult tenants will enjoy swimming laps as well. Keep in mind, however, that pools can be expensive and time-consuming to build and maintain, and they may pose a liability risk. If the pool is outdoors, you may need to open it each summer and close it each winter, depending on the climate where your building is located.
These amenities should help you attract interest from people who would like to rent your apartments. Make sure to do appropriate research before making big decisions, and remember to always treat your tenants with understanding, kindness, and respect.