New year, new property? It’s always important to look for ways to improve your site, especially at the beginning of the year. See our property renovation recommendations along with tips for keeping things running smoothly while the changes are underway.
It is a new year. A time for both reflection and looking forward to what lies ahead. Many of us will look back and see good times, hard times, things perhaps we would have done differently and things we would not change for the world. The last year no doubt held valuable lessons and hopefully, moments we will treasure.
With a new year comes the feeling of a fresh start. A reset. A time to make realistic goals to work toward and stretch goals to allow ourselves the opportunity to surprise ourselves with what we can accomplish.
On a personal level, we might want to incorporate more healthy habits. A reasonable exercise regimen. More home-cooked meals and meal prep for the week rather than eating fast food. Perhaps even scaling back our TV time in exchange for more reading or outdoor activity. Or, on the flipside, maybe we will want to learn how to carve out some down time to just relax and not feel the need to be so busy all the time. All these things are possible pursuits to finding our balance in a world that all too often wants to keep us on our toes.
In the business world, reflection and goal setting are important as well. How did the company perform last year? Where did we excel? What areas are opportunities for improvement? How did we manage our budget and how will that affect our expenditures in the coming year? What changes can we make to further drive our business all while enhancing tenant satisfaction? For a property manager, items that are looked at heavily are occupancy rates, resident retention and overall tenant experience. One venture that can offer a great return on investment, when done properly, is a property renovation.
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A few property renovation basics
Where and whether a renovation is needed can be determined by various factors. Sometimes the need is obvious, as in when a change or update would greatly improve safety, functionality, convenience for residents, aesthetics or any combination thereof. There are times, however, when the need for a beneficial update is not so clear.
Renovations begin with an idea. Maybe there is a common thread in feedback or requests made by tenants. Perhaps a questionnaire given to residents along with a fun incentive for responding could bring forth some helpful insight. You might even have a flash of inspiration when surveying the property. You could also enlist the help of a professional exterior/interior designer.
Once an idea has come about, the next question is cost. Are the changes practical, are they a priority, and of course, are they within budget? To determine the answer to these questions requires finding out if your management company has any current agreements with particular contractors. If so, what are the agreed upon rates? If not, it is time to shop around. Doing so might reveal that your expectations will need to be adjusted or you might be pleasantly surprised. Whatever the case, the trick is always to find the sweet spot of the least amount of expenditure necessary to achieve maximum results. It might not take as much as you think to increase the appeal of your property and improve the satisfaction of your current residents.
Unexpected factors to consider during a renovation
After all the designing, planning, and pricing has been accomplished, it is time to break ground, so to speak. Scheduling out the various vendors and work in a logical and efficient order can seem like a daunting task, but with the help of a general contractor in the planning phase, things can be set to happen in the right order. Still, there are inevitably hiccups and hitches along the way.
Not everything can go according to plan at all times. Schedules might have to change due to inclement weather. There can be issues with material order delays or equipment failures. Sometimes during the demolition of existing structures, the digging through concrete or dirt or the relocation of plumbing and wiring, unintentional damage can occur that might affect important systems at your property.
Examples of mishaps that can easily occur while work is being performed on your property are a phone or power line being cut or disconnected, or devices being unplugged from a power outlet to free a spot for the worker’s tools and equipment to be powered. While it might be obvious when an office line goes down, there are many other devices that rely on phone lines. Something like an internet modem or router being unplugged could be noticed rather quickly but there are many other crucial devices that must remained powered to ensures safety and full functionality.
A functionality checklist
To help minimize delays in discovering and addressing issues that might arise during construction and renovation projects on your property, here is a handy checklist to quickly run through each day to ensure everything remains in working order:
Are all phone lines still intact and operational? Including but not limited to:
Entry and exit gate lines
Fire alarm lines
Security alarm systems lines
Water meter lines
Emergency phone system lines
Are all important devices still receiving power? Including but not limited to:
Internet modem and/or router
Entry and exit gates
Fire alarm system
Security alarm system
Parking area and external building lighting
Emergency phone systems
These are just some of the more common and crucial things to check out during renovations. Be sure to thoroughly assess your site for any similar items that may belong on these lists.
Kings III’s equipment redundancy and what to look for
Your emergency systems should offer some form of redundancy in the event that power is lost. For instance, Kings III emergency phone systems come equipped with a backup battery that is automatically recharged when main power is restored (read more about the problem of power outages and Kings III’s solutions here). A signal is sent to our dispatch center as well that notifies us when our dialer system has lost power. Furthermore, to ensure our equipment is not unplugged by mistake, we label our plugs with a bright red sticker that reads EMERGENCY PHONE, DO NOT UNPLUG.
In the case of cut lines underground, however, it is possible that our main panel is plugged in and is receiving power but the connection between it and the actual phone inside the elevator cab, near the pool, or by the parking area has been severed. This is why it is important that each individual phone be tested on a regular basis.
Learn more about the importance of testing and how to go about performing regular checks of your Kings III emergency phone system here.
If you do not currently have our system in place, contact us today to find out why our emergency phones are an essential safety solution for your property.
Planning a renovation soon and need your Kings III Emergency phone relocated? Reach out to our service department at 800-766-2029 or click here to request that a technician be sent to professionally move the equipment for you.