Multifamily properties have always been an attractive investment option for individuals looking to multiply their wealth. Investors, however, may need to invest in a multifamily rehabilitation program to ensure maximum return on their investments. That’s when they need a apartment renovation contractor offering multifamily housing rehabilitation service, to conduct a pre-acquisition inspection focused on the needs of renters.
Regular electricity supply is the basic need for a renter. The pre-acquisition inspection team notes the age of the wiring system in the properties, the wiring material(s) used (aluminum or copper), worn out, frayed or tattered wires, and issues in electrical systems. If the experts notice any problem, they address it or highlight the issue in their report.
2. Exterior Material
Multifamily properties can have an array of exterior materials, such as wood, metal, concrete, brick, and metal. As the exteriors are constantly abused by climatic conditions and pollution, the materials tend to wear out or degrade over time. During the pre-acquisition inspection, the experts assess the condition of the exterior materials, looking for cracks, surface damage, wear and tear, and corrosion. If they notice any problem, they either carry out repairs or replace the exterior material.
Most multifamily properties have a flat roof that shields the property from changing weather conditions, harsh sun, and provides ample surface area to install solar panels, AC, water tanks, and other equipment. Multifamily housing rehabilitation programs include a thorough inspection of the roof to note the abuse it has faced over the years, and prepare an action plan. They either restore the entire material to cover the roof or repair it.
Leaking plumbing and water fixture can ruin anyone’s staying experience, which is why before you complete the acquisition formalities, a pre-acquisition inspection of the property is essential. The inspection covers the plumbing system of every apartment, roof drainage, and other plumbing systems to ensure there’s no leakage. If there’s any, they replace the leaking water pipes or fixture.
If a multifamily property has furnished apartments, it should have adequate, comfortable, and stylish furniture for every room. The property should also feature window treatment, wall accessories, and other elements that augment the appeal of the interiors. Pre-acquisition inspection takes care of all these needs and ensure you only invest your money in the right property.
The focus areas of a multifamily rehabilitation program go a long way in ensuring the property has a high value and is equipped with all that it takes to attract tenants. If you are interested in investing in a multifamily property and are looking for a multifamily property renovation contractor, look no further than United Renovations Speciality Group. Our multifamily housing rehabilitation program includes pre-acquisition and pre-disposition inspection, insurance claim assistance, emergency maintenance and modification, damaged property reconstruction, and even include comprehensive roofing services. To learn more, fill out our contact form or simply call 480.219.6743.