16C — May 11 - 24, 2012 — NJAA Conference & Expo — Mid Atlantic Real Estate Journal
www.marejournal.com
NJAA C onference & E xpo By Cathie Daly, Design East Inc. Design inspired rental renovation projects
T
oday’s rental market, driven by younger prospects, is accelerat-
nance. Research has proven that rental retention is key, along with your ability to capture a wider range of new prospects. Consult with an experi- enced designer and suc- cessfully transition your renovation. Due to the cur- rent economy, people now more than ever are choosing apartment living with all of the benefits of a maintenance free lifestyle. An investment to renovate dated existing communities is the right decision and costs can be con- trolled with the right plan-
ning and the right team.
your community, the benefit to partnering with a design consultant during the pre- liminary discovery process of any renovation is to re- search the best approach to maximize the project with a “distinctive appeal”. #3 Lobby and Common Area Updates Your ability to thrive in the midst of today’s market and competition in order to maintain full rental poten- tial is your key to success. Understanding how to phase out the old with a more time-
less design will enable you to merge the new with the old. #4 Community Center Updates Research tells us that Gen- eration Y prefers a more impressive club room versus paying for a larger apartment unit enabling them greater socializing potential and an exceptional cornerstone to the community. Today’s community center trends consist of intimate outdoor spaces with a trellis and fire pit, bright fitness centers with multiple flat screen televisions and indi- vidual docking stations to allow for individual listening experience. Consider stylish great rooms with functional spaces such as gaming rooms withWi-Fi to hold small busi- ness meetings or to socialize, as well as permanent smaller seating areas, and a bistro or café bar. #5 She-Economy vs. Man Cave Look to the new majority of buyers and renters when it comes to designing, selling, and marketing. During the pre-renovation stage take into consideration that this target market is growing and determine how you can be better prepared. Consider the “she-economy” who are seeking a certain lifestyle environment that includes upgrading closets with shelving systems, up dated kitchens with storage, sleek baths, security, fitness center, and pleasing curb appeal. Research has told us that a large number of male prospects seek help to qualify what community to live in by getting the advice of a female friend. On the other hand, the “Man Cave” is a performance driven environment for all of his large and numerous electronic toys. Advance your community’s position by exploring all of the options and costs provid- ing yourself and your pros- pects a greater perspective. Catherine Daly, presi- dent and founder, along with her experienced and dedicated team of design professionals are known for their integrity and results driven approach to project management and design implementa- tion. n
Renovate Your Approach: #1 Design Inspired Every community is differ- ent and each offers a variety of amenities. Brainstorming and developing new design, marketing strategies, and possibilities with an expe- rienced design/construction consultant, prior to consid- ering any renovation, can greatly impact your renova- tion roadmap for success! #2 Advanced Planning Regardless of the level of
ing the value of interior design and a r c h i t e c - tural trends to the fore- front when researching a new apart- ment.
Cathie Daly
To maximize future rental momentum, it is essential to properly plan ahead and budget for future updates versus only periodic mainte-
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Experience the ultimate in “value driven” interior design excellence from a leader in the apartment industry that maximizes the potential of every community prior to launching any renovations including: Condo/Apartment Environments, Clubhouses: Interior Design of New & Pre-Existing, Exterior/ Interior Signage, Common Areas/Lobbies, and Elevator Updates. Apartment Interior Design/ Renovation Specialist
Celebrating over 20 years of Interior Design and Consulting Excellence
Medford, NJ • cathie@designeastinc.com • www.designeastinc.com • 609.654.9675
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