Over the course of my career, I have had the opportunity to lead large-scale renovation programs, including running the West region for a public multifamily REIT, with an annual spend exceeding $100 million and a team of more than 30 professionals. What I learned, in its simplest form, is that successful renovation programs are both strategic and collaborative.STRATEGIC:The work is won or lost before it begins. Scopes must be clearly defined and ...

Major renovation programs are often discussed in terms of scope, budgets, and construction execution. What receives far less attention is the operational team that must continue leasing units, retaining residents, and managing the community while the work is underway.During a renovation program in Los Angeles, a leasing manager shared a simple observation with me. She said the team had no way to show residents or prospective tenants what the comm ...