All things need a little polish and a little shine, when you are ready to turn 119 you might need even a little more love.
The more passive conventional part of the ownership plan is to collect rent for cashflow, build equity and enjoy long term appreciation. The active part of the ownership plan is to invest in upgrades for the residential portion to drive increased property value independently from the general market trends.
This is the residential hallway before and after our first reno push. Adding a little art really classes the place up.
New long lasting LED lights pretty much doubled the brightness in hall and will save some operating costs. Painted ceiling white, walls with Cloverdale Paint’s Ocean Crest, trim Midnight Magic and Doors Oxford White. Cleaned and repainted all the ceiling vents. Replaced suite door Kirf and sweeps. For the finishing touch, changed out the old sticker door numbers to nice aluminum screwed on numbers. Installed a couple paintings. Replaced entry door closer and handle too. Scrubbed floors down good. Better looking hallways should lead to better tenants in the long run and hopefully more tenant pride and respect for the building. Also no point refurbishing suites only accessed off a dingy hallway, so we start in the common areas.
This is a great start to how the year and we will be able to renovate one apartment after July when we have scheduled a tenant to move out. Future updates coming soon…..