One thing that residents will always want in an apartment is as much space as possible for a rental price that they see as justified. However, many multifamily apartment homes are not known for offering a ton of features that increase storage capacity, so when a renter finds a hidden space gem, they’ll pay more for it.
Renters are very familiar with having clutter that easily piles up because of limited storage options; a main drawback of apartment living. When renters feel the need to fill up their floorspace with extra dressers and other storage containers, the livable footage of the apartment becomes smaller and smaller and their frustration grows bigger and bigger.
Providing your renters with increased closet storage capabilities in your multifamily apartment units will not only help you attract more renters, but also make your units more valuable and keep renters leased longer.
If you are looking for an easy renovation project that will increase space and storage in the apartments you own or manage, the best way is to start optimizing your closets.
Optimizing Your Multifamily Closet Space
Most closets in multifamily housing units are severely underutilized with sometimes less than 50% of the functional space available being used for storage. Master bedroom closets are where the largest waste of space usually occurs. Many apartment complexes tout walk-in closets as one of the draws to rent from them; however, these closets are not used in a way that actually maximizes storage and space.
To be more specific, the most primary bedroom closets have usually are two mounted bars or racks.
One way to optimize closet space and impress your renters is to strategically place shelving and hanger bars inside already existing closets. Even small closets can be optimized with shelving, rods, and more to create more space than property managers or renters can imagine for organizing personal belongings.
Many people who live in apartments must rent extra storage space off-site or garages on the property. If you can help residents eliminate the extra expense of a storage unit, they will be more willing to pay higher rent for the apartment.
In fact, three-fourths of renters report that large, spacious closets with ample storage are a top selling point and that they would be willing to pay more to keep all their belongings in their home.
Best Way to Renovate Apartment Closets
The best part of optimizing your apartment closets is that as soon as you customize one, you are eager to customize them all! Renovating the closet spaces in an apartment is an easy solution to update your floor plans to attract and retain residents.
Creating cubby holes, more places to hang clothes at varying levels, shelving, and other methods of storage within a closet can add dozens of square feet of usable space. However, not everyone has the eye for organizing and knows how to make the best use out of a sometimes small space.
There are professional closet customization companies that can partner with rental property owners to renovate closets and optimize floor space. Partnering with companies like this can save time, money, hassle, and brain power in trying to figure out how to use nearly every inch of functional space.
When to Renovate Your Multifamily Closets
We all know the best time to do any renovation projects on an apartment is between residents when you are turning the unit. This can create a stressful situation for you as you want this renovation completed as quick as possible so you can turn that unit and continue adding to your bottom line. Professional closet organizers can look at a closet space and have the perfect plan in mind to create the optimal layout in a breeze, reducing the turnaround time between renters.
Closet customization can be completed in as little as four hours and only takes a one-time setup to completely transform a space and make it more functional. These renovations are also noninvasive and do not involve any construction, which means you can upgrade closets easily between renters, or even while renters are there (if they empty the closet). Sometimes an upgrade to a closet can be offered as incentives to encourage renters to renew their lease.
Innovating Additional Multifamily Closet Storage
Professional organizers can turn any closet space into a functional one that is both comfortable and adaptable. Being creative with how and where you can make more storage space can sometimes be tricky but there are a lot of tips and tricks you can use in the kitchen, bathroom, and other closet space.
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Pantries — Creating more storage space in your kitchen is as easy as retrofitting your pantry with an optimized and customized design that makes use of all available space. You do not have to add extra cabinets, build a kitchen island, or make any significant changes if you are looking for extra storage room for kitchen appliances and gadgets. You can also create an open-shelving layout on the kitchen walls when you do not have a pantry or many cabinets for storage.
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Bathrooms — Customized shelving is perfect for small bathrooms that lack a linen closet. Adding in creative and innovative shelving to your bathroom can help you keep your sink or vanity top free of clutter and help to maximize your wall space when you have little floor space to work with.
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Laundry Rooms — Customized shelving and hanging systems can be installed in laundry rooms to make storing cleaning products, sorting clothes, and keeping everything organized — including those annoying missing sock pairs, easier than ever.
Other Tips and Tricks to Creating More Storage Space in An Apartment
Besides adding shelving to your closets or walls, there are a few other ways an apartment can be made to feel better, even without increasing the square footage. Getting creative with furniture/fixture options is a big one. If the bathroom space permits, choose a vanity with a cabinet built-in for storage. Medicine cabinets still make great storage options for toothbrushes, toothpaste, medicine, floss, facewash, and other commonly used hygiene products.
In the kitchen, you can install lazy Susan drawers in bottom cabinets to increase your access to the space within the cabinets. Make sure to talk to your professional closet customizer about how they can help you optimize the space you have and your storage needs for anywhere in your units.