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Multifamily Renovations: Common Areas

Property updates range from standard maintenance to extensive renovation, but regardless of the size of the community, “The key is good communication [with] the residents about anything that you do on the property that is longer than a few hours or [a] day,” says Jackie Ramstedt, a national speaker and consultant with more than 29 years of experience in the multifamily housing industry.

The frequency, extent and type of renovation depends on the specific property, so there’s no definitive guide to follow. The main areas to focus on are the things that affect the tour path and, therefore, the leasing process, says Jeffrey Weissman, senior vice president of operations for Morgan Properties in King of Prussia, Pennsylvania.
Here are a few of the main common areas in a complex that will require regular maintenance and periodic renovation, and what it takes to keep them up-to-date.

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