Renovations are a powerful way to elevate a multifamily asset’s value and income potential — but when poorly managed, they can also interrupt rent collections, waste dollars, and stress your bottom line.
At Summerfield Asset Management, we come across way too many investors who entrust their renovation projects to under qualified property management staff that leads to a poor return on investment (ROI).
We take a strategic, phased approach to renovation planning and oversight. Our goal is to enhance your property’s performance while protecting — and increasing — your in-place cash flow.
Our Renovation Strategy: 5 Steps From Start to Finish
1. Strategic Planning Aligned with Ownership Goals
Every renovation starts with a business objective. Whether repositioning an asset or boosting rents, we align the renovation scope with ownership’s investment goals. Our team analyzes market comps, current performance, and physical conditions to prioritize high-ROI upgrades — from unit interiors to community amenities.
2. Phased Budgeting That Protects Cash Flow
We avoid large one-time capital outlays by phasing renovations across time and lease expirations. This lets us spread costs, minimize vacancy, and test finish levels before scaling. Improvements are timed to generate revenue uplift before additional capital is deployed.
3. Coordination with On-Site Teams to Minimize Disruption
Renovations are synchronized with property management to avoid resident disruption. Unit interiors are upgraded during natural turns. When common areas are improved, we communicate clearly with tenants and maintain temporary alternatives wherever possible.
4. Vendor Oversight and Cost Controls
We manage competitive bidding, negotiate pricing, and ensure that vendors deliver on time and on budget. Our asset managers conduct regular site walks and track progress against detailed scopes, budgets, and timelines.
5. Tracking ROI and Real-Time Adjustments
Once renovations begin, we measure their performance in real time. Rent premiums, lease velocity, and feedback inform our next steps. We pivot when needed — doubling down on successful finishes or reallocating capital where it’s underperforming.
Smart Renovations Without Income Disruption
With Summerfield overseeing your renovation strategy, equity is efficiently spent, your property gets upgraded — with minimal hit to your income stream as possible. Our process balances short-term stability with long-term value creation, giving owners confidence and control throughout every stage.
Want to learn more about our renovation and asset oversight strategies? Let’s talk.
