Lincoln is expected to reach 100,000 residents in the near future—all of whom need a place to live. If you own an apartment complex in this area, you may be wondering how to capitalize on its steady growth—whether that involves drawing in more tenants or appealing to those with more to spend. In either case, making money almost always starts with an investment—in this case, in features that will appeal to your desired client without sacrificing effective property management. The guide below offers some suggestions.

What Will Make Your Property More Desireable?

When updating your apartments, focus on improvements with the highest ROI. Often, this starts by anticipating which amenities people are looking for the most when they are apartment-hunting. For many, that includes an in-unit washer and dryer and modernized kitchen with dishwasher. A fresh coat of paint and new flooring are also cost-effective changes that make a big impact. The most desirable community features include those that appeal to pet owners, such as a dog park or grooming station. Swimming pools and fitness centers are also sought after.

How to Plan the Addition

As great as the long-term benefits of these changes might be, in the immediate future, planning any renovations to an actively-running apartment complex can be stressful. Not only will you want to negotiate the best prices on labor and material, and minimize the disturbance to your current residents, but also, the apartments being worked on can’t be rented out until the job is complete.

To ease this strain, consider bringing in a property management professional or team, with experience coordinating construction projects and the demands of a large client base. Once the work is finished, they can also assist with finding and managing staff members to maintain the pool or the gym, as well as dealing with the influx of tenants that your measures bring in.

If you’re thinking about upgrading your complex, working with the right property management team will make all the difference in how well it works for you. NAI FMA Realty is the full-service firm specializing in commercial real estate throughout Lincoln, NE. Their team has over 80 years of combined experience and an unparalleled knowledge of the local real estate market. Visit them online to learn more about how they will help. Or call the property management firm at (402) 441-5800 to discuss your plans with a representative.