Common area renovations
A rental or condo building’s common areas often carry as much weight as the private living space does when deciding where to rent or buy. In apartment buildings, common areas such as laundry rooms, pool areas, underground garages, elevators and gardens can make or break the decision to choose your building. Dingy elevators, dark garages and dirty laundry rooms will deter apartment building quality renters and condo prospective buyers. Common areas will engage them. If they can see themselves enjoying the pool or landscaped gardens then they already have one foot in the door. Beautiful common areas will increase the value of your condo building. This provides a return on investment and an edge if, and when, members decide to sell.
What is a common area?
Put simply, everything about your building that isn’t private to one person is part of the common area. We often refer to these areas as lobbies, corridors, stairwells, elevators, meeting rooms, and so on. The cost of these renovations is usually divided between all co-owners of the condo or co-property. The renovation of these spaces will have the effect of improving the home environment for all residents and increasing the resale value of your property. A major benefit of renovating these areas is that once this cost has been divided among all the owners, it becomes much less of a financial burden!
Smart renovation – consider consulting an architect
When deciding how to go about your renovation, if the project requires a certain design or is relatively large, it is best to work with a professional designer or architect. They'll determine the extent of the work required and accurately estimate costs. Often, they will have many solutions that won’t cost a fortune. But, they'll give the impression that you have invested a lot and will add value to your home! A tailor-made plan will also make it easier for a contractor to provide an accurate quote. This will make it easier to compare quotes. They'll all be provided according to the detailed plan. In addition, developing a plan in advance also allows you peace of mind as you will know that the contractor will only need to follow the plans made by the architect/designer, leaving less room for improvisation errors.
Common areas for seniors
Retirement residences are the newest rental properties that are springing up across North America. The baby boomers are retiring in great numbers and retirement residences are being built with beautiful common areas such as libraries, movie theatres, bowling alleys, mini golf courses and more. It is spaces like these that really sell the idea of living there because the rent includes it all:
- private apartment
- 3 meals per day in the dining room
- use of all the common rooms
- activities and entertainment
Find professional contractors
Reno-Assistance is a renovation advisory and contractor referral service that is free of charge for our customers. Our Renovation Advisor reviews your plan with you to understand your needs, then sends you up to 3 contractors that are perfect for your project. We evaluate the quotes with you and help you choose the contractor that suits you best. There is no fee because our contractor network pays us for the referral service that we provide.
Get up to 3 quotes, free of charge!
Do you want to make sure you’re getting the right market price for your renovation? We do too, and that's why we will refer up to 3 contractors to provide competing quotes for your project. So you can get the comparisons you need all in the one place. Our network of verified contractors extends to nearly 1,000 contractors across Ontario and Quebec. They're continuously monitored to ensure they are meeting our standards of verification. This minimizes the chances of working with a dishonest or underqualified contractor. In addition, you will have access to the free services of a Renovation Advisor. They'll guide you through the planning of your project, find the right contractors and professionals that best suit your needs, and evaluate and compare the quotes with you.
Let me help you with your common area project
Account Manager - Commercial Division