Every contractor touts the quality of their workmanship, their attention to detail, their fair prices, etc… Wheelhouse Construction feels strongly about our professionalism, and we also pride ourselves in understanding the VALUE in the quality and market desirability of the actual finishes themselves.
A building’s location, age, amenities, and surrounding competition are some of the primary factors that help determine the highest possible rent that a property can garner. Unfortunately, these are also factors that are nearly impossible to change. One opportunity that is controllable and improvable by the landlord are the interior and exterior finishes of the property.
Wheelhouse Construction has completed thousands of apartment unit remodels over the years and we often do repeat work for the same clients. As a result, we constantly receive feedback over long periods of time regarding the direct results of the unit improvements we have made. We stay current on local leasing market trends and evaluate the direct impact of our renovations. We know what renters desire and what they are willing to pay more for, therefore, the upgrades we install (from flooring to fixtures, counters to cabinets) attract a higher quality renter.
We understand that in every renovation we do the owner is mindful of ROI (return on investment) and the effect that increased rental rates have on NOI (net operating income). With enough expenditure, it’s easy to make an apartment look great, but most landlords do not have an unlimited budget. With that in mind, choosing reasonably priced quality finishes, while increasing the appeal to prospective residents should always be a goal. We can assist you in making the most profitable decisions for your asset.
Durability of the products used in a renovation is a key factor in increasing an assets’ NOI. Renters often abuse apartments in the same manner that rental cars are treated. There are many inexpensive products on the market such as particle board cabinets, hollow core doors, and plastic light switch covers. It is important to us that we are mindful of this. Quite simply, poorly made products need to be replaced more often during turns, while better products make it through many more unit turns. The subsequent cost of turns versus the cost of the products installed must be analyzed prior to implementation as the use of inexpensive products may eventually have a negative impact on the NOI of a property.
At Wheelhouse Construction we do not simply quote the job price and then perform the work, we consult with the landlord to make the upfront decisions that truly create a quality and profitable project, and increase the value of your asset.
Wheelhouse Construction | 574 Santa Fe Drive Suite 210, Denver, CO 80204
303.991.6493 | firstname.lastname@example.org
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