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Whether you invest in multifamily or other commercial properties, if you’re investing for cashflow, you’re going to want your property to attract tenants. The design and function of a property goes a long way in enticing potential tenants. Updating your property with latest design trends and practical features can also increase the value of your investment.
This episode, we talk with Alex Rios. As President of Rios Architecture, Alex has worked on many projects in many asset classes, including office, commercial, medical and multifamily. Lately, he has been actively involved with several multifamily projects around Tampa Bay, including several McKinley developments.
Alex knows that, for cash-flowing investment properties to attract tenants, they need to feature things that people will want. If you want to increase your property value and attract desirable tenants, staying up-to-date with current design trends is important.
Here are some of the hot design trends that can increase the value of your investment property!
- Apartment investors looking for ways to make their property stand out to tenants
- Tight multifamily market has led investors to look at value-add opportunities
Hot Design Trends
- ‘Sophisticated’ look
- Invest in palette, not singular items
- Colors catering to relaxing environments
- Light blues
- Light greens
- Accent colors
- Floor materials
- Luxury Vinyl Tile (LVT) mimics look and quality of wood, durable
- Amenities need to cater to what your desired tenants want
- Urban lifestyle trends very strong market
- Digital/online age demands accessible internet
- Pet accommodations
- Encourage social interaction
- Home office flexibility
- Accessibility and walkability are important features
Investing for the Future
- Plan for changes with new technology
- Electric cars
- Automated transit
- Manage your construction costs
- Account for high labor demand
- Costs for new development materials
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