The figures for Q1 of 2022 are in, and the number of homes bought by institutional investors is falling fast. They accounted for just 4.1% of sales, compared with 9.1% in the final quarter of 2021. Cash sales are increasing, suggesting that lots of individual investors feel real estate is a good place to park their cash.
If you’ve invested in an apartment complex or commercial property that needs renovations, the thought of organizing it yourself can be overwhelming. You need a general contractor who specializes in turnkey renovations… a one-stop-shop for all your renovation needs.
Let’s take a quick look at why turnkey renovations are the solution to your fixer-upper problem.
What Is a Turnkey Property?
A turnkey property is a property that is ready for someone to move into and enjoy from day one. All major systems work correctly and have usually been recently refreshed. Everything from the roof to the paint on the walls is in great condition.
You can also make turnkey upgrades to an existing rental property to improve it for current or future tenants. This could include improvements like in-unit laundry retrofits, amenity additions, and major renovations.
What Are Turnkey Renovation Services?
Renovating a property from top to bottom takes a lot of hard work and different types of trades. You need roofers, electricians, plumbers, carpenters to name just a few. Even if you’re only doing a partial reno, there are still a lot of different contractors to organize.
All of that requires more specialist knowledge than first meets the eye. If you’ve never worked in the construction industry, getting contractors to your property in the right order can be a challenge. How do you handle delays and balance everything with your day job and other responsibilities?
You hire turnkey renovations services. The solution to all your problems wrapped up in a single company.
The Process of Turnkey Renovations
Turnkey renovation services are general contractors who specialize in renovating turnkey properties. They’ll handle the entire process from start to finish. Whether you’ve got a wreck that needs everything done or only need partial renovations, they’ll take care of everything for you.
They’ll work with you on a design, taking into account your aspirations for the property and your budget. Then they’ll provide construction management services throughout to complete the works agreed on.
Turnkey Renovation Ideas
The focus of a turnkey renovation is adding value to the property. Not only do these renovations add value to the property, but you are also able to recoup the costs of the renovations by increasing rents over time.
Some of the best turnkey renovation ideas include:
- Kitchen/Bath renovations
- Adding curb appeal
- New flooring
- Corridor renovations
- Tenant Improvements
- Amenity additions
The beauty of working with a turnkey renovation contractor is that they can guide you through what actually adds value in your area.
Choose CCSI for Turnkey Renovations
Turnkey renovations are a cinch when you work with an experienced company.
At CCSI, we specialize in all kinds of turnkey renovations. From simple laundry retrofits to complete tenant fit-outs, you can trust us to take your investment property to another level.
Call us at 410-437-8461 or get in touch online to talk to us about your project.