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July 24, 2018
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5 WAYS TO PRESERVE OR INCREASE PROPERTY VALUE

Buildings deteriorate over time. The proper maintenance and repair projects can help maintain if not increase property value. A good architect with an in-depth knowledge of municipal codes and a strong design skill set will find value in places that others might overlook.

1.    Review your property to identify underutilized space, and repurpose it to add amenities or produce income.

With a thorough understanding of building codes and zoning, we can make practical recommendations that turn forgotten space into an amenity for the residents to improve their experience, or change the use to an income generating function such as a third party rental.

2.    Analyze the property for compliance with the Americans with Disabilities Act (ADA) to minimize the chance of defending a lawsuit.

Everyday Settlement Agreements are initiated by the government or private plaintiffs against properties that have not provided the required access to people with disabilities. Contrary to the common belief that a facility can be “grandfathered in,” owners maintain legal liability to comply with many requirements affecting accessibility within their facility. We can conduct a review of your property, identify where you are in violation of the law, and assist in developing a long-term plan to provide the required compliance. We can also negotiate on your behalf, collaborating with your attorney, if you are already facing legal action, to develop cost-effective methods of resolving any violations.

3.    Evaluate the property to determine if you can take advantage of Energy Rebates or Incentives.

With the fast-paced technological changes taking place in the construction industry, we can evaluate your property to determine the best opportunities to obtain energy rebates or incentives, and reduce long-term operating costs. Roof upgrades, windows and lighting packages offer the best opportunities to capitalize on reducing your costs. From the analysis through the evaluation of alternatives, and the implementation of an upgrade, we can assist you to streamline the process and maximize returns.

4.    Implement small design improvements that provide a big payback.

By evaluating your property from the parking lot to the lobby to the public areas and private units, we can implement relatively low-cost design upgrades that improve the resident’s experience and affect the quality of life on a daily basis. Keeping your property “fresh” will also assist in attracting high-quality residents when units turn over.

5.    Inspect completed projects to identify in-warranty repairs required prior to the expiration of your warranty.

All too often property improvements are constructed and considered to be complete. Many owners forget about the warranty period that they purchased when they initially completed the project. We can assist you in evaluating the completed work within the warranty period and document repairs so that you can avoid the expense of paying to fix work that you already have coverage on.

Are you in a Property Ownership or Management function and looking to develop a relationship with architects who can help make your life easier? Contact Us

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