3 Fool-proof Strategies to Increase your Commercial Property’s NOI

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Undoubtedly, stock market and real estate investments are two great ways to generate potential future cash flows and secure your future. However, with constant fluctuations in the stock market this year, it’s time for you to cash in on big profits by investing in your commercial property. Whether you plan on using the property for your own business operations or renting it out to other people, in all aspects, buying a commercial property is a lucrative investment. The reason behind is that even if the market collapses or drops, you won’t lose your asset like stocks.

Various reality shows have commenced a new trend of renovating, reshaping, and rehabbing real estates among the citizens of US. To drastically increase the value and improve the curb appeal of your real estate, investors have started beautifying and updating their commercial lands. From changing wallpapers to making structural changes to installing new security services, here we have described four easy-peasy strategies to add value to your property.

1. Cosmetic and structural Changes:

Improvements such as adding square footage to your home, increasing rentable square footage, applying a fresh coat of paint, and installing new appliances to your kitchen are some great ways to add a definite wow factor to your property and generate a profitable return on the investment. A poorly designed apartment or building can reduce its rental value.

For example: Let’s say your commercial property has some unfinished areas or multiple lobbies. It means you would not be able to monetize a significant portion of your building. In this case, you must consider completing unfinished areas or converting unusable areas into rentable ones before leasing your property. Also, we have given some tips that you can use when making improvements:

• Declutter your property and integrate new wallpapers, carpets, window fittings, and appliances.

• Repair the roof and all floors. Also, make sure to fix cracks, damages, holes, and water leaks in ceilings.

• Add warehouse, storeroom, library, or gathering space to your home.

• Swap boring, dusty cupboards and doors in kitchens as well as bathrooms.

• To exude elegance and glamour, replace bath panels, outdated taps, and canisters with new ones.

2. Exterior Renovations

Does external appearance matter? It’s a very simple yet tricky question. Most people believe appearance doesn’t matter; however, this is not true entirely! Let me prove this with an example:

Assume there are two dishes in front of your eyes, but you don’t have an idea how do they taste. One dish is plated perfectly while another doesn't look appetizing at all. Which delicacy would you choose to try first? Assuredly, the plated one as it tempts your eyes and makes you want to taste it. The same way, the external outlook of any property plays a vital role in influencing its value. Fortunately, there are various low-cost ways you can use to give a pleasant and appealing external appearance to your dwelling.

• Repaint your entire home inside and out in a fresh neutral color to give it a lively and vibrant aura and to lift its value.

• Communicate with a reliable cleaning and trash removal company to provide services to your tenants.

• Make sure the grounds, parking lots, bathrooms, and walkways of your building are cleaned and well-maintained.

• Clean out debris, remove clutters, trim & rogue branches, feed the lawn, and water the plants in your yard. Also, ensure there are no odd smells.

• Windows are the main focal point of your home. If a window is broken or drabbed, replace it quickly.

• Build a proper parking space, change the roof coverings, and install landscape lighting near your front door or around the garden.

These tips not only give your estate a new appearance without making significant structural changes but also add monetary value to your commercial property.

3. Shared Units

This strategy is neither too mysterious nor tragic. The “timeshare” sector of real estate is tremendously inviting and gaining more popularity among investors. The idea is to stag your property and rent it out to multiple buyers. By doing so, you can cover maintenance fees when you are not using your property and also earn wads of cash. You can get timeshare ownership on your villa, apartment, or any other type of property. For that, all you need to do is sign a rental agreement with a reliable and professional company that provides timeshare rental services to potential customers. Under a time-sharing scheme, multiple consumers who purchase these service have all rights to use the property as a holiday home. Now, let’s talk about its benefits:

• Maintenance fees and security charges are none;

• You get a window of opportunity to make a killing;

• There’s no need to sell your real estate, even if you live in some other country or city;

• You can terminate the contract and sell or reuse the property anytime.

If you want to buy a residential or commercial property or are seeking more information on renovation ideas, then contact us for a quote. Call us at (909) 377-3137 or drop a message at bb@arrowbcd.com.

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