Avoid these 4 Mistakes during Multi Family Housing Renovation

Published on: 26 November 2016 Last Updated on: 04 September 2024

Given the volatile nature of the economy, the demand for affordable housing has increased by leaps and bounds. Consequently, multifamily housing investors are facing stiff competition. Multifamily housing investors are not leaving a stone unturned to turn a profit from their existing or newly acquired rental properties. Many of them are undertaking occupied property renovation programs to gain a competitive edge. Renovating a rental property not only adds value to the existing property but also plays a key role in influencing renter’s willingness to rent more for the property. That being said, when investing in any construction or renovation of occupied property, it is important to come up with a plan that helps you realize seizable returns from your investment.

This blog post lists four common mistakes that multifamily housing investors/owners must avoid to make the most out of occupied property renovation program. Read on!

Going for the Cheapest Bid

Once you have decided to get your multi-family rental property renovated, the first thing you need to do is to approach several contractors and ask for their renovation quotes. Though the cheapest bid may sound enticing to many, choosing it may cost heavy on your pocket in the long run. A contractor may not be efficient in getting the job done or may cut corners and use poor quality material during the job. That being said, straight away going for an expensive bid is not a sensible decision either. To pull off a great deal, you must contact at least two to three contractors and get written estimates from each. Ensure there is no hidden cost involved in the project.

Hiring the Wrong People

Renovating a rental property is a complex process, and therefore, requires professional assistance. Before embarking on the renovation project, the professional contractor conducts due diligence to help control cost and eliminate potential obstacles down the lane. Nonetheless, as a property owner, you should not overlook the little details about the people you are hiring. There have been instances of fraudulent renovation practices in the past, which is why it is important to hire a reputable contractor and ask for their certification or record of their previous work.

Bossing Around

Though many housing contractors work in collaboration with property owners to provide customized renovation services, many property owners are in a habit of poking their nose in every step of the project. Making changes every now and then in the middle of the project can delay the renovation project, thereby stalling the rentability of the units. Always remember that you have chosen an experienced contractor with a record of successful projects in the past. It is important to let your contractor do what they think is best for your business. Having said that, it is also important to keep a check on what is being done so far and what is about to be done to complete the project.

Setting Unrealistic Budget

Budget plays an important role in the completion of your rental property renovation project. Before hiring professional multifamily, it is important to have contingent fund ready to meet unprecedented needs in the middle of the project. In projects as big as multifamily housing renovation, it is likely that you may want to spend a little extra to add value to your project. That’s when having a contingency budget in place ensures seamless renovation.

Wrapping up

A properly planned and executed multi-family housing program not only helps you gain a competitive edge, but also helps you achieve your ROI goals. Always hire a reputable contractor, known to provide quality services. Go through their work portfolio to get an idea of their previous work. Lastly, ensure that there are no hidden fees involved in the project, before you sign on the dotted line.

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Choosing the right roof for your home – Types to select from

When thinking about how to select the best roofing for your home, you need to take into account several issues and have to research various different elements. A roof which is well designed and perfectly made with materials of good quality increases the value of your house giving it a new dimension. While thinking about choosing the best roofing possible for the house, you will come to know about various processes and various materials which were not known to you before. It is one of the most difficult areas to construct in a building and needs the guidance of a leading roofing contractor. It is easy to replace your existing roof if any with the same process and with the same materials. But this will make you lose the chance of upgrading your roofing. Given below are various points which will help you to choose the best roofing for your house: Fighting the weather : Your roof is generally a barrier which guards your home against various climatic warriors like sun, rain, and snow. Thus it should be taken care of that you use materials which are strong enough to protect your roof from these climate changes and do not wear out easily. So researching and consulting the roofing contractors about which materials are to be chosen is very important for the longevity of the roof as well as the house. Usually, the metal roofing or tiles roofing lasts longer than the roof made with shingles. Design : For different houses, roofing of different styles and designs are needed. For example, for an original Tuscan home, authentic clay roof tile is best suited. The Dutch houses are known for their steep-sloped roof sides and shingles is a better option of rooting for this kind of houses. Type of roofing : You need to think and confirm what kind of roofing you will need. There are various types of roofing from where you can choose the best one according to your needs. There are clay tile and concrete flooring, metal flooring, asphalt shingles flooring, etc. These roofing types vary in costing, weights, durability, longevity. The metal roofing is far more beneficial than the asphalt shingles one. The asphalt one is easy to install and is lighter and is less complicated. The metal roofing process is a more complicated one which cost more but also provides better performance and stays for a longer period without wearing out very early. They are stronger and are able to fight the climatic changes better than others. Asphalt shingles : Choosing asphalt shingles is very beneficial with respect to price as it is less costly than others and probably will give the best value to your roof while fitting the budget. The best type of shingles is laminated and architectural shingles. They are thicker and more textured and will serve about 20 years and will keep you tension free. Weights : You need to take care of the fact that the weight of the materials you use in the roofing process must not exceed the limit or else they can put pressure on your ceiling. Lightweight materials are also easy to install and materials like shingles and composites can be laid and installed directly over the top of the existing roof. The metal roofing is heavier than shingles and also than the tile roofing. Comparison : Comparing the price, quality, and weights of the materials are also very important as it makes you sure about which company you should buy the materials. If you note the prices and weights of the materials from various dealers and compare the prices from the quotations, it will be beneficial and will cost you less for doing the job. Colors : There is always a debate about whether to choose roofing of dark color or a light color. This will influence the heating of the roof as well as the rooms down under. Studies conclude that when ply sheets were placed under black or dark-colored shingles, they kept the temperature about ten degrees warmer than the same kind of shingles but white in color. Thus it is a difficult but important choice to make whether to focus more on the color or more on the heat retention. The advice is to go for a color that you like and prefer as you will have to keep it for a long span and you will have to live with it. Hence, we can see that while choosing the type of flooring for your home, you should take into account many aspects and do proper research about it. The various types of flooring offer various kinds of features and you may choose from them accordingly. The price may vary, the longevity may vary and their strength to tolerate the weather may also vary. Thus finding the best roofing which will protect the roof from leakage, mosses, molds and other substances will be beneficial. Click here roofing prices and choose the right roofing for your home. Read Also : Professional Roofing Services And Different Decorating Styles Pressure Washing- Why It Is Necessarily Important For Your Home? Professional Roofing Services And Different Decorating Styles

The Key Benefits of Using SIPs to Build a Home

Construction methods have changed drastically over the years. Fortunately, every new technology developed aims to improve on past processes to ensure that each completed building is not only structurally sound but also provides the best comfort, functionality, aesthetic value, and sustainability. To further ensure that building methods do not result in more significant damage to the environment, more contractors and builders these days opt to use SIP panels. Structural Insulated Panels are typically installed as walls, flooring, and roofing for residential homes, commercial buildings, and public projects such as schools and community halls. There are many benefits to using SIP panels. These are: Superior thermal insulation: Insulation is key to ensuring that a building or home does not waste energy used in cooling and heating. One of the key advantages of using SIP panels over traditional building methods is the excellent insulation they provide. The solid foam core inside each SIP panel is responsible for even insulation, thus preventing cold spots and reducing HVAC system energy consumption. Additional roof space: When you use SIPs instead of roof trusses, the additional space created is ideal for converting into another living area such as an attic, or an extra room. Added floor space: SIPs houses have more internal floor space than traditional wooden frame houses. If you compare two houses with similar dimensions, the one built using SIPs takes up smaller sections of the wall, and there is extra floor space in most areas around the house. Sustainable and environment-friendly: Most of the wood used to produce SIPs come from plantations and not forests. Using wood from plantations ensures that production remains sustainable and is better for the environment. Some manufacturers also fabricate SIPs from a combination of recycled material and farmed wood. It is also notable that even the foam insulation core inside a SIP panel does not contain any CFC or other harmful chemicals. Faster construction: Constructing a home using SIPs is approximately three times faster than traditional construction methods. Since you won’t be working with wet cement or laying down concrete blocks and bricks, the contractor can easily calculate how long it will take to complete an entire project. Versatility: Architects can use CAD software to design using SIPs and create a variety of applications whether it is residential or commercial. SIPs are also customisable to meet specific building requirements concerning structural strength. Compared with wooden framework buildings, SIPs buildings appear more robust and stable. The rigid surface also allows for hanging indoor fixtures such as kitchen cabinetry without requiring additional fixings. Conclusion: Building with SIPs is a trend that is only bound to increase in popularity as more people are becoming increasingly conscious about saving the environment and saving money at the same time. The benefits outlined above are only a few of the reasons why SIP panels should be considered for every construction. Although traditional building methods are still popular today, you can easily combine SIPs with conventional construction and start enjoying the additional benefits of a well-insulated and structurally sound home. Read Also: Interiors To Reduce The Heat Build-Up In Your Homes Five Ways To Improve The Air Quality Inside Your Home

Top 7 Home Security Mistakes That Homeowners Need To Avoid Making

We all are excited about buying our first home! But, in that excitement of owning a new space that is entirely our own, we make some rookie mistakes when it comes to security. Initially, you do put a lot of effort into the ironclad safety of your house, like putting in alarms, sensory cameras, etc. But, you are also prone to make some mistakes down the line. We have surveyed and found out most of the common mistakes that are done by homeowners in terms of security. As the 7 top home security mistakes that homeowners need to avoid making are presented underneath, take them as a fair warning and make sure you avoid them at any cost. Rookie Home Security Mistakes That Homeowners Need To Avoid These mistakes will sound harmless at first, but they can lead to serious problems when you least expect them. The reason why you should be aware of them is that intruders and burglars keep looking for these loopholes to enter your house. These actions are taken in haste and should be avoided, especially when you live alone or have kids in the house. 1. Leaving The Windows Unlocked To ensure full safety when you leave, you should carefully check all the house doors and windows, especially the bolts of the window and the backdoors. This is a mandatory measure for all the valuable items that are locked in your house. Especially if you have left your kids alone with a babysitter who isn't quite well accustomed to the map of the house, checking the windows is a must before you exit, but sometimes windows do break in because the material is mostly glass. This is why you need a strong alarm system that will prevent breaking and entering. Click https://smiththompson.com/security-systems-san-antonio/ to get the best home security services for installing an alarm system today. 2. Not Locking Garage Door This is one of the biggest mistakes, which is so common that it is scary. We have all heard horror stories about stalkers and intruders easily entering the house with just an open door. There is a door in your garage that leads to your house, at any circumstance that should be locked with a proper locking system unless someone opens it from inside. Unfortunately, this door is the biggest attraction for people for breaking and entering. A garage should also have installed a security system, proper lighting, and most importantly, an ironclad door that cannot be opened from outside. 3. Keeping The Garage Gate Open When Not Needed This is again another mistake that happens very often. The garage is mostly opened from the inside, even when it is not used. Even if there is a need to use the garage, one could enter from the gate inside the house. Avoid keeping the garage gate open at night; this is probably the easiest and the biggest entrance for the intruders and stalkers out there. Instead, an excellent suggestion is to put an intrusion alarm inside the alarm or motion sensors to detect anyone’s presence, even if you are in the other corner of the house. 4. No Perimeter Security When we talk about security, if you are going to have a strong security system inside your house, then the same should be given to the outside part. This is something that should be considered if you are getting a professional to install your security equipment. General people forget to get proper lights for the porch or the long drive—even a camera for the space outside or a motion sensor for the backyard. The interior of your house is not the only place that you need to protect, but the entire exterior until your property lasts. The lack of outside security can also fail to intimidate the burglars or intruders waiting to commit a crime. 5. Leaving A Ladder On The Side Of The House Leaving a ladder outside your house is literally inviting suspicious break-ins. You have to be careful about these tools and equipment, which can easily give anyone access to enter some of the most private areas of your house. Every time you work with them, do not keep them in places that can allow people to use them. Instead, this equipment should be kept inside the house, locked in the basement or attic. 6. Leaving Places For The Intruder To Hide When was the last time that you cut those ‘human height’ hedges from your backyard, or since when have you kept that equipment room outside the main house unlocked? These are very easy hiding places for the people waiting to intrude, open your valuable belongings, or even you. You cannot be careless because it is only through your strong preparation for security, the intruders will get intimidated. Just like a garage (which is also another excellent hiding place for burglars), you should always keep your utility room, garden room, greenhouses locked. Plus, get some help and cut those hedges today. 7. Hiding A Key Outside The House This might be the last one on our list, but that doesn’t make it any less important. In fact, it is the most important one since it is so common. Forgetting your keys is like an everyday habit for some people, and in order to fight them, we always find new and innovative ways to hide a spare outside our house. This is not only dangerous because the literal weapon of entering your private property is left unattended, but every intruder can anticipate all the hiding places. So, take your keys! But, if you are prone to forgetting, then you can keep a spare with your neighbors. But, seriously, stop keeping your keys underneath the mat. Final Note Home security should be our first priority when we own property. Besides these few common and big mistakes, we should also stop sharing our whereabouts on social media. This just lets people know that you aren’t at home. Installing a proper security system is essential. Although some might be a little on the costlier side, it is an excellent investment for the long term. Read Also: WiFi Security: Mediocrity To Excellence The Guide to Understanding Your Home Value 3 Home Upgrades to Make Your Property Unique

Avoid these 4 Mistakes during Multi Family Housing Renovation

Going for the Cheapest Bid

Hiring the Wrong People

Bossing Around

Setting Unrealistic Budget

Wrapping up

Home Decor is an Art Itself – Things To Know

Close Look at Top 5 Roofing Materials – Pros and Cons

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Choosing the right roof for your home – Types to select from

The Key Benefits of Using SIPs to Build a Home

Top 7 Home Security Mistakes That Homeowners Need To Avoid Making

Avoid these 4 Mistakes during Multi Family Housing Renovation

Going for the Cheapest Bid

Hiring the Wrong People

Bossing Around

Setting Unrealistic Budget

Wrapping up

Share this Article

Home Decor is an Art Itself – Things To Know

Close Look at Top 5 Roofing Materials – Pros and Cons

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related