multifamily property in winter

End of Year Capital Expenditure Projects

Whether renovating an entire complex or focusing on a large-scale refresh, we’re here to help you maximize the effectiveness of your capital expenditure (CapEx) projects.

PRO TIP:

Before beginning a CapEx project, consider your budget, the property’s age and condition and the industry trends. These factors help you choose projects that make the best use of your investment, boost resident retention rates, raise your property value and lower your operational costs.

l-shaped kitchen with white cabinets and stainless steel appliances

Rethink Kitchens & Baths

Residents spend the most time in the kitchen and bathroom, so renovations can fetch the biggest rent increases. Update your community with modern cabinets, durable flooring, eye-catching lighting and plumbing fixtures and stylish hardware.

kitchen with white cabinets and stainless steel appliances

Upgrade Appliances

Did you know that 89 percent of residents want an in-unit washer and dryer, and 77 percent of those polled won’t rent without them? 1 Add appliances with upscale finishes like stainless steel to appeal to current and prospective residents.

Condensing unit outside a residence

Repair or Replace HVAC Systems

If your HVAC units are more than 10 years old, replace them with systems that meet energy-efficiency standards and lower monthly utility costs. For added energy savings, upgrade to smart thermostats that provide quicker and easier temperature control.

Smart home technology products

Smart Home Technology

According to Entrata, over half of all residents would pay at least $20 more in monthly rent for smart amenities and features. 2 Give residents more control over their homes with smart home technology features like smart door locks, thermostats, LED lighting and security video cameras.

Other CapEx Project Essentials

Accessible bathroom image

When It’s Time for Strategic Upgrades, Partner with RenovationsPlus

Get Started Now

Resources: