Remodeling and renovation projects are without question a great way to boost the value of a property over the short and long-term. Whether remodeling a multiplex, house, or single unit, the work invested pays substantial dividends well in a range of ways.

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Value improvement

Rental Values

Increased rental values give any improvements a clear return on investment. A rate of return of 5-15% is common and represents a better return than most other investment vehicles available to those with capital to use. For example, a project totalling $50,000 which improves the rental rate $500 per month provides a return of 12%, paying back the investment in about eight years.

ROI rates generally increase over time with improved rental market conditions. While in year one a 10% ROI might be possible, that could rise multiple points after only a couple of years.

Tenant Quality

Improvements tend to increase the quality of the tenant, ultimately supporting the projected return on investment. The benefits of this are difficult to quantify but become apparent in the medium- and long-term.

Resale Value

Every improvement project that we counsel our clients to undertake must project to add at least a dollar in value to each dollar invested.

Multiplexes

For owners of multiplexes, there are some additional factors to consider:

Asset Liquidity

Improvements increase the ability of a property to be sold when dictated by necessity. The need to sell a property does not always coincide with strong markets. A property that is always able to provide financial security affords its owner the greatest flexibility.

Safety

Improvements can increase the safety of the unit in particular and the property overall. Reducing hazards that can develop and exist mid-tenancy are often best addressed as part of a renovation.

Lawfulness

Improvements generally increase the lawfulness of the unit, resulting in greater peace of mind for the property’s manager and owner as well as avoiding potentially significant costs should there be fines which result from the involvement of authorities.

Case studies

Seeing is believing

As dramatic as many of our renos have been visually, the critical improvements are to rental values and return on investment.

See our work >

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