As a commercial real estate investor, you’re always looking for ways to increase the value of your properties. One effective way to do this is through simple and easy do-it-yourself (DIY) improvements.
By taking on these tasks yourself, you can save money on labor costs and boost your property’s curb appeal. Here are some DIY tips that any commercial real estate investor can use to increase the value of their properties:
1. Paint the exterior of the building
One of the simplest and most effective ways to improve the appearance of your commercial property is by painting the exterior of the building. A fresh coat of paint can help cover up any blemishes and make your property look more modern and well-maintained.
If you’re not confident in your painting skills, consider hiring a professional painter to handle the job. A good commercial real estate broker can recommend reliable painters in your area.
2. Clean up the property
Another easy way to increase the value of your commercial property is by cleaning it up. This includes removing any trash, debris, or litter from the property, as well as trimming any overgrown bushes or trees.
A well-maintained property will attract more tenants and make a better impression on potential buyers. If you don’t have the time or resources to handle the clean-up yourself, consider hiring a landscaping or maintenance company to handle it for you.
3. Cut weeds
Weeds can quickly take over a property and make it look unkempt and unappealing. To prevent this, make sure to regularly cut and remove any weeds that sprout up on your property.
This is a relatively easy task that can be done with a weed trimmer or by hand. By keeping your property weed-free, you’ll make a better impression on tenants and potential buyers.
4. Clean the parking lot of oil stains and restripe it
Another way to improve the appearance of your commercial property is by cleaning the parking lot of oil stains and restriping it. Over time, oil stains can accumulate on the surface of the parking lot, which can make it look dirty and unattractive.
By cleaning these stains and restriping the lot, you can make it look fresh and new. This is a task that can be easily accomplished by hiring a commercial pressure washing company or a parking lot maintenance contractor.
Your commercial real estate agent can recommend reliable contractors in your area.
5. Update the lighting
Good lighting is essential for any commercial property. It helps make the property safer and more inviting for tenants and customers. Updating the lighting is an easy DIY task that can significantly improve the appearance of your property.
You can replace old light fixtures with new, energy-efficient ones or install additional lighting to brighten up dark areas of the property. A commercial real estate broker can recommend reliable electricians in your area.
6. Install new signage
A well-designed sign can make a big impact on the appearance of your commercial property. It can help attract new tenants and customers and make your property stand out from the competition.
Installing new signage is a relatively simple task that can be done by hiring a sign company or graphic designer. Your commercial real estate broker can recommend reliable sign companies in your area.
7. Update the landscaping
A well-designed landscape can make a big impact on the appearance of your commercial property. By updating the landscaping, you can create a more welcoming and attractive environment for tenants and customers.
This can include planting new trees and flowers, adding benches or other seating areas, and installing decorative features like fountains or sculptures. While some aspects of landscaping may require a professional landscaper, there are many DIY tasks that can be easily accomplished by any property owner.
While DIY improvements can help increase the value of your commercial property, it’s important to consult with a professional commercial real estate broker for larger tasks that
require contractors or specialized expertise. A good broker can help you identify the most cost-effective improvements that will add the most value to your property. They can also recommend reliable contractors and service providers who can handle more complex tasks like roofing repairs, HVAC upgrades, or electrical work.
In addition to providing guidance on property improvements, a commercial real estate broker can also help you navigate the complex legal and financial aspects of commercial real estate investing.
They can help you negotiate leases, evaluate potential investment properties, and secure financing for your projects. With their expert advice and guidance, you can maximize the value of your commercial real estate portfolio and achieve long-term financial success.
In conclusion, DIY improvements can be a cost-effective way to increase the value of your commercial real estate properties. By focusing on simple and easy tasks like painting, cleaning, and landscaping, you can create a more attractive and welcoming environment for tenants and customers.
While some tasks may require the help of professional contractors, a good commercial real estate broker can help you identify the most effective improvements and connect you with reliable service providers.
By working with a broker, you can take your commercial real estate investment to the next level and achieve greater long-term success.