Tenants Love the “Cool Factor”
Why Interior Design Matters for Your Multifamily Property
In this blog, SouthPark Interiors uncovers the importance of good interior design as it relates to multifamily community success. You’ll learn:
- Whether interior design impacts multifamily success
- How good interior design affects lease rates
- How good interior design affects renewal rates
The benefits of investing in well executed interior design for your multifamily property cannot be overstated. To prove how invaluable interior design truly is to the overarching tenant retainment strategy, our team contacted our past clients to see how business has held up since completing their interior design projects.
What we found proves beyond a shadow of a doubt that good interior design has a direct impact on multifamily community success. Read on to find out exactly how impactful interior design can be for helping you meet your business objectives!
Does Interior Design Impact Multifamily Success?
Our team wanted to understand exactly how our interior designs factor in to multifamily community success, specifically as it relates to lease rates and renewal rates. After interviewing our previous clients, we were able to gather some interesting insights:
Good Interior Design & Lease Rates
It turns out that good interior design has a direct impact on property vacancies. In fact, 97% of SPI-designed properties were fully leased as of July 2022. That means 97% of our clients were fully occupied after their construction or renovation interior design project was complete. Lower vacancies at your multifamily property means more tenants paying rent every month, which means a higher profit for your community.
Good Interior Design & Renewal Rates
Not only does good interior design have the ability to attract new tenants, but it also increases the chance of them re-signing their lease. According to our survey, clients reported that 99% of their tenants renew their leases for an additional term. Reduced tenant turnover is something that all multifamily property managers strive to achieve. Thanks to our team’s innovative designs, we’ve helped solve this critical pain point for countless clients throughout the United States.
Get these similar results at your property
Numbers don’t lie: Properties that have been expertly designed by SouthPark Interiors outperform their competitors by a longshot when it comes to improved lease rates and reduced tenant turnover. Working closely with architects, developers, and general contractors, we have successfully delivered our signature designs to more than 250 properties across the country.
If you’re looking to reduce turnover and eliminate vacancies at your multifamily property, request an interior design consultation with our team today!