Potential renters are often pulled in by the immaculate landscaping or the welcoming look and feel of your apartment community. Read More…
Boost Your Apartment Community’s Curb Appeal – Top Three Ways to Invest in Outdoor Living
Potential renters are often pulled in by the immaculate landscaping or the welcoming look and feel of your apartment community. The curbside appeal of your apartment community is as important as the amenities and upgrades inside of each unit. As the summer approaches and flowers, shrubs, and trees are in full bloom, now is the time to consider how your apartment community looks from the street view as potential renters pass by.
At Top Floor Insurance, we have over 20 years of experience working with apartment building communities of all shapes and sizes. Over the years, one principle seems to hold true: invest in your curb appeal and renters will come. We highly recommend investing in this three must have outdoor upgrades to boost your rental foot traffic.
Set up welcoming outdoor sitting areas. As the weather warms up, renters like to have congregating areas outdoors to enjoy the weather. If your apartment community does not have balconies for each unit, consider investing in benches and stationary picnic tables. These are great outdoor pieces to have to make your apartment building feel like an apartment community. If you have space, transforming an open grassy area into a small gathering spot with picnic tables can be a major selling point for renters, especially those with children. To ensure your renter’s safety, be sure that all outdoor furniture is well maintained and replaced often to prevent injuries. Avoid using furniture that is designed for indoor use outdoors. Instead, invest in durable outdoor furniture that will be able to handle the weather conditions in your area. Likewise, make sure all gathering areas are well lit and within public view. This will deter crime and vandalism and make renters feel more safe when using these areas.
Have outdoor grilling and eating areas. Setting up outdoor kitchen options throughout your apartment community is a great way to attract younger or more social renters. This also serves the purpose of reducing the risk of fires from balcony grills. Having community access to grills has become popular, especially in warmer climates, or during the summer months. Investing in a robust outdoor grill can instantly give your apartment community an upscale look and feel. Establishing specific grill use guidelines or requirements is also a good idea to ensure your outdoor kitchen equipment is being used safely and only by your residents. Placing a fence around an outdoor kitchen, and having an access code or special pass can not only safeguard your investment from theft and vandalism, but can also signal to your potential residents a sense of exclusivity.
Updated signage with floral accents. This will likely be the first thing that potential renters and visitors will see. We don’t recommend going all out and investing in an expensive sign or installing over the top landscaping designs, but taking the time to update your community sign is an often overlooked (and easy) outdoor upgrade. Adding a few perennial shrubs and flowers can give your welcome sign a nice curb appeal that signals to prospective renters that you are willing to invest in the upkeep of your property. Plus, making investments now in the exterior of your apartment community could translate into insurance savings. Insurance agents will likely take pictures of your apartment community and submit them to the underwriters who determine your insurance premiums. Well maintained apartment communities often land better insurance and more competitive insurance rates.
These small and simple outdoor upgrades can boost your curb appeal and enhance the living experience of your current renters. Investing in the outdoor appearance of your apartment community can increase your rental foot traffic and lead to higher rental occupancy. Do you have any additional outdoor upgrades you have done that have increased your curb appeal? If so, we would love to hear about them by commenting on this blog, or by leaving us a message on our Facebook page.