10 Reasons To Hire An Interior Designer For Your Multifamily Property
Whether you are purchasing a value-add multifamily property or are building a new one from the ground up, you want the public spaces and model units to be both eye-catching and functional. While you could try to handle this multifamily property design yourself, you may find it a better use of your time and money to hire a professional interior designer. An interior designer will provide superior results and create more successful spaces.
Why should you hire an interior designer for your next multifamily property design? Here are ten excellent reasons.
#1: Make a Great First Impression
You only have one chance to make a positive first impression. When a potential resident enters your leasing office or a model unit, remember that you’re most likely competing against several surrounding properties. Why should they choose your property? You want to make sure that your spaces stand out from the competition and say, “Remember me! Wouldn’t it be so cool to live here?” You want everything to come together to entice that individual or family to choose your property. The design has to be right the first time.
Interior designers know how to do this. They have the ability to create spaces that make an immediate positive and memorable impression. It is more than just choosing the paint colors and furniture, it is about using all available elements to make a first impression that lasts.
#2: Target a Specific Audience
A professional designer learns who your target audience is and will design for that audience. It is not about choosing generic furniture and colors; it's about choosing items that appeal to the specific type of prospect you want to attract.
You want your target audience to feel as if the leasing office houses their support team, and that the model could be their home. They need to envision themselves in the space and desire to emulate that “model” look and feel when they move in. It's not a guessing game; it's a matter of specific choices designed to attract the residents you want.
#3: Professional vs. DIY Design
Too many leasing offices and model units are outfitted with generic furnishings picked up from local stores, not taking into account scale, balance, overall impact, and architecture.
Many property owners or managers go from store to store to store trying to pull everything together. And even though they may have spent a sizeable sum on the furnishings when all is said and done, the result is frequently an underwhelming DIY look.
Professional designers know how to get the “most bang for your buck”. They are selecting from many different sources to design a cohesive look that flows from space to space, taking into account scale, balance, architecture, form, and function. Memorable, dramatic spaces are the goal.
#4: Reinforce Your Brand
The design of lobbies and other public spaces in your multifamily property is just as important, if not more important, than the design of model units. Your public spaces help to create the desired atmosphere and brand for your property – and reinforce the image presented by the models.
#5: Create a Professional Online Presence
The public spaces and model units in multifamily properties aren't just experienced in person anymore. Today, most prospects start their "shopping" online by visiting all of the surrounding property’s websites and select the ones to tour based on that research.
Your spaces need to be designed in a way that photographs well and has high impact when viewing those small pictures online. Professional designers know how to design for website viewing – and set up the shots for the most attractive photographs of those spaces.
#6: Increase Employee Satisfaction and Performance
The design of your public and working spaces affects not only your residents and potential residents, but also your property's employees. According to the American Society of Interior Designers, well-designed workspaces positively impact employee health, wellness, performance, and job satisfaction. You want spaces that make your employees comfortable and productive, as well as ones that create pride in their place of work.
A professional interior designer knows how to choose the best lighting, furniture, and spatial flow to enhance employee collaboration and productivity. Good design of these spaces not only benefits your employees but can also save energy, improving your Net Operating Income (NOI).
#7: Save Time
As a multifamily property owner or manager, you are juggling a lot of balls. Overseeing the upgrades to the unit interiors, leasing office renos, new signage, amenities, balconies and yards, contractors, staff, occupancy, resident challenges, and marketing can be a lot to manage. Not to mention that you’d like to be out looking for more deals, and networking to build relationships with partners and investors!
A professional designer can take a lot off your plate. Some may help with unit interior selections, leasing office makeovers, and model units only, while others may also assist with new branding, logos, signage, amenity recommendations, and exterior paint selections. The time savings can be massive for your management team.
#8: Save Money
Contrary to popular belief, using a designer can actually save you money in the long run.
Designers ensure that every dollar you spend is the correct dollar.
The most common mistakes that designers see in DIY multifamily spaces are the wrong use of scale, color palettes (including the undertone of colors), traffic paths, function, incorrect lighting, and flow.
In many cases, the owners or managers have spent a lot of time and money on these projects, and the result is just meh. Definitely not what you want when you’re trying to attract new residents and when you’re competing with surrounding properties who have used professional designers. You’ve got to stand out from the rest!
#9: Increase Occupancy
Your goal is to get that occupancy up as high as possible so that potential residents are fighting to get in. Dramatic images online and a jaw-dropping wow factor when they visit in person for the first time are your one-two punch in increasing interest in your units.
#10: Increase Your NOI
There are benefits to professional design that can help increase your NOI. Once your occupancy has reached new heights, it’s easy to raise the rents. Your staff is happy and efficient in their space, so your staff turnover is less. Your residents get great service from the happier staff, so your resident turnover also decreases.
Let Landry Designs Handle Your Next Multifamily Property Design
Lisa Landry and her award-winning team at Landry Designs have been designing multifamily properties for many years. Lisa is also a multifamily investor, so she gets how important it is to get that NOI up.
She and her team frequently design and furnish leasing offices and model units. They also select exterior paint, assist with branding, logos, signage and exterior amenities recommendations.
They operate out of a large studio in the Dallas-Ft. Worth area and work on projects across the United States, specializing in B/C-class value-add properties. They are honored to have won 1st, 2nd, and 3rd Places with their multifamily projects in a recent design contest judged by magazine editors from across the U.S.
Contact us for a free consultation on your next design project.