Purchasing and maintaining a multi-family property is a significant real estate investment of time and money. To be successful in your endeavor, there are many factors to consider. You will want to determine how to reduce your long-term expenses without compromising quality, and you will also want to design appealing spaces for your occupants.
At Danver Stainless Outdoor Kitchens, we recognize the importance of designing attractive and high-quality amenity spaces for multi-family properties property owners. Read on to discover why investing in a Danver outdoor kitchen is one of the best ways to increase the value of your multi-family property.
What Does it Mean to Increase Value to Your Property?
Adding value to your multi-family property can take the form of social or financial benefits. Increasing the financial value of your rental property generally means increasing the monetary return on your investment, which is best served by designing attractive units, securing tenant occupancy, and choosing durable materials that will last. Social value involves creating attractive spaces that occupants can enjoy, such as common-use outdoor amenity spaces with plenty of entertainment. Increasing the value of your real estate investment also allows you more control and flexibility over rent fees.
Ways to Increase the Value of Your Property
If you are seeking to increase the value of your multi-family property for real estate purposes, consider ways to reduce costs and add attractive features, such as an outdoor kitchen, that will enhance your space for your occupants for years to come. By increasing the property value of your multi-family property home, you will see an increase in your financial investment returns, maximize occupancy and profits, and create desirable units and amenity spaces for your property.
Add an outdoor amenity space
An outdoor or indoor-outdoor amenity space will add tons of social and entertaining value to your property rental units. Amenity spaces can include all sorts of exciting features, like a pool, a patio, a fireplace, a seating area, and an outdoor kitchen. Designing a fully equipped, versatile outdoor kitchen will allow you to incorporate a variety of features to create an outdoor entertaining oasis for your occupants. Doing so will allow you to charge higher rents on various units to further increase your monthly income.
Reduce long-term expenses
One of the most beneficial ways to increase the real estate value of your multi-family rental property is to reduce your long-term expenses. A simple and effective way to reduce long-term cost is to invest in durable materials and products that will not require replacement or costly upkeep. You can also reduce expenses with regular maintenance of your investment property so that you will not end up with major problems down the road with any of your rental units.
Common environmentally-conscious solutions include renewable energy options, like solar panels, and choosing eco-friendly materials that are 100% recyclable, like stainless steel. These options are not only better for the environment, but they will also save you money in the long term.
To secure accessibility for all in any living areas and common-use spaces, you will want to adhere to ADA (Americans with Disabilities Act) standards. In any kitchen areas, these ADA regulations involve everything from clearance between kitchen cabinets to required recessed areas beneath sinks and cooktops for wheelchair access.
How Danver Can Increase the Value of Your Multi-Family Property
As the innovator of powder coated stainless steel outdoor kitchens, Danver has remained at the forefront of the outdoor kitchen industry. Unlike other cabinetry materials that require regular upkeep and even replacement, our stainless steel cabinetry is engineered to last in the outdoors and remain durable and vibrant, ensuring the look you want is the look you will have.
Our acumen in the outdoor kitchen industry has allowed us to develop innovative solutions for multi-family properties. Choosing Danver for your multi-family amenity space means a higher return on investment for you and an enjoyable social space for your occupants.
- Durable 304 or 316 stainless steel cabinetry that lasts with minimal maintenance, meaning a reduction in long-term expenses.
- An expansive selection of powder coat finishes for your cabinetry that will allow you to customize your amenity space.
- Hundreds of cabinetry sizes in 3” increments – including ADA-compliant sizing.
- Seemingly endless layout choices, giving you the freedom to incorporate other outdoor amenities – pools, patios, seating areas, and more.
- A variety of cabinetry types that will house virtually every outdoor appliance, allowing you to design a fully equipped outdoor kitchen.
- Innovative solutions, such as our Post and Panel System (PPS), which is a skeletal system with removable panels – perfect for multi-family applications where storage is not needed.
Increasing the property value of your multi-family property means making choices that will increase your return on investment, reduce long-term expenses, and create desirable spaces to maximize occupant enjoyment. Designing an outdoor amenity space with attractive features, such as a Danver outdoor kitchen, is a great choice to increase the value of your investment property. Danver’s durable cabinetry, innovative solutions, and customizability to suit your space are all features that will enhance the financial and social value of your multi-family property. With these features, you’ll have customers ready to rent one of your units in no time.
Ready to add a Danver outdoor kitchen to your multi-family amenity space?
This article is based on industry knowledge and research by outdoor kitchen design professionals, including our in-house experts and engineers with decades of experience.Our goal at Danver is to provide factual information on relevant topics to help readers make informed decisions about their outdoor living spaces.
This article uses trusted sources with references hyperlinked to the source material.