How to Choose the Best Multifamily Renovation Company

Choosing a multifamily renovation company is one of the most important aspects of an asset remodel or complete renovation.

Once the contracts are signed and work begins, the working relationship will need to continue through the duration of the project. The style of relationship is largely dependent on the investor, but some basic requirements must be established for any multifamily renovation company.

Choose the best multifamily renovation company based on experience, reputation, ethics, and ability to stay on budget. A reputable company will practice real-time transparency and accountability. They know that time is money and will deliver the quality and timeliness that ensures a high ROI.

Choosing the best multifamily renovation company is more than picking a company because they have a high-def portfolio app. While seeing prior work is very important for any project manager or investor, so is the ability to see reviews, talk to past customers, and have full accountability. This article will discuss how that can happen, creating the best working relationship possible between contractors and investors.

Choose a Renovation Company by Experience

Lack of experience is one of the reasons why it is so hard for new contractors to gain market share in the multifamily renovation space. Experience is so valuable for investors because a proven track record of success helps to guarantee that the project they are investing in will also be a success.

It is not wrong to take a chance on a newer contractor. In fact, many newer multifamily renovation companies will work harder for less of a percentage profit to gain experience and a good reputation. Contracting companies prefer to grow based on referrals, so they work hard to earn them.

However, for those who want the reassurance that comes with an experienced multifamily renovation company, look for a company that has a proven track record of completing at least a couple of projects that are similar to the one that is being planned.

Search online for local multifamily renovation companies. These local companies may offer incentives for local investors to keep the business in the local area.
Search for remote multifamily renovation companies. There may be a company that is in a different state that can do the work that is needed. The cost could be lower to call an out-of-state company, especially if local materials or labor rates are exorbitantly high.
Nationally present contracting companies often offer the lowest cost for materials because they buy massive quantities and store supplies until needed. This wholesale approach can bring a price break to the investor.
Keep in mind that nationally present companies have grown because of good work in the past. However, sometimes they are less responsive to local needs or complaints. Be sure to meet the construction manager that will be on-site to ensure that an attentive working relationship can be established before investing.

Once the investor has a list of multifamily renovation companies that he is interested in, he should then begin to do a more thorough investigation of each company. Some companies have beautiful websites that properly showcase past work, giving explanations and goals that were met or exceeded.

Some companies do not have nice websites, so the investor must call or email the company for more information. Many companies put additional information behind a wall that requires investor information, and this is unfortunate because it deters many would-be investors from further investigating the company. However, this stipulation must be met for investors to be sure they are choosing the best company in the end.

Choose a Renovation Company by Reputation

Investors talk to other investors, and real estate is by no means a secluded playground. When considering a company that will do a great multifamily renovation, take the time to look online or go on-campus to view various multifamily properties in the area that have a similar look and finish to the project in mind.

Contact the property owners and find out who did the renovation. Investors are excited to talk about companies that made them angry and companies that made them happy. Either way, the referral or warning will be of utmost value when choosing the right company for the multifamily renovation project. Those who are happy with the outcome, the company ethics, the budget, and the ROI will happily give referrals.

Also, look at online or mailed portfolios from multifamily renovation companies and investigate the projects that they list as prior experience.

Look at the finished product in person, where possible. If the project is a few years old, that is even better because it will be easier to see the longevity of materials used in the renovation or build.
Talk to building managers about the quality of the build. They do not necessarily need to know that they are talking to an investor, but they have the best insight into the form and function of the building.
Call project managers from previously completed projects and ask about how the project went. They can give the most valuable insights about what it was like to work with the renovation company. Also, ask them for referrals to other past customers of the company that is under consideration.
Do a quick online search for reviews of the company, but do not put all of the stock in online reviews. Reviews found on the company website will be glowing. Reviews found on “scam” list websites will be scathing and may be baited by competitors. Talking to people personally is necessary to get the real story.
Weigh the good and the bad together from multiple sources before choosing. No company gets a project 100% right. Hiccups happen, disappointments happen, but a reputable company will do everything possible to make it right. Let this ethical consideration work into reputation considerations.

The best way to figure out the reputation of a company is to talk to as many people who have worked with them as possible. Do not leave it to totally positive and totally negative reviews to determine the real reputation of the builder. The best contacts to find are both investors and building managers.

Choose a Renovation Company by Ethics

Ethics are determined by what ought to be or what ought to be done. Morals are concerned with what people are actually doing now. People like to judge themselves by morals and judge others by ethics. Construction companies are judged no differently. Multifamily construction companies must hold themselves to the highest ethical standards to complete projects in a way that gains future referrals.

Ethical considerations put the needs of the investor over the needs of the construction company, even if it means less profit. Investors must act ethically as well, not making the project details unfair to the renovation company. The best deal is one in which both parties profit fairly.
Ethical practices give realistic timelines rather than overpromsing build times and then going over because the promise was unrealistic from the beginning.
Ethical budgeting gives as accurate a number as possible, not bidding too low to get the job and then requiring multiple change orders to keep the project on track. Some change orders are inevitable during renovations, due to the unknown nature of the building, but excessive numbers raise red flags.
Ethical accountability means transparency in all aspects of the project, from budgeting to timelines, subs used on the job, materials costs, and punch list items.
An ethical company makes mistakes, but they are also willing to own up to mistakes and seek to make them right. More offenses are maintained, and grudges are held because the offender refuses to admit the offense. An ethical company will operate in humility and candor.

A company that is confident that they are upholding themselves to a high ethical standard will have no qualms about sharing their practices with prospective and current clients. This transparency builds trust that can be sustained through the inevitable problems that arise in any construction or renovation project.

The trust that is established between an ethical multifamily renovation company and an ethical investor is the basis for a relationship that will inevitably continue long past the initial building renovation project. This relationship will be called into action through future renovations, repairs, and referral projects.

Choose a Renovation Company Based on Transparency

This topic combines two important considerations for every multifamily renovation project: efficiency and ethical responsibility. The renovation company must honor both the investor and residents of the building that is being renovated if it is occupied. A great multifamily renovation company should use technology to help establish this transparency that builds trust and delivers excellence.

Advances in technology have been a blessing in many areas of life, and construction is a big beneficiary. There are perennial problems that arise with the traditional management of construction projects. The materials are hard to track, subs do not show up because the lines of communication fell through, so the project is stalled, and many other issues. A great renovation company will use tech to its advantage.

The project can be completely and efficiently managed using cloud-based SaaS applications such as Procore. This is not the only management SaaS by far. These types of applications allow the project to be managed from anywhere.
Materials can be tracked through purchase, storage, and use with scannable tags via tracking apps.
Time is logged accurately using these SaaS apps, keeping everyone on track and ahead of deadlines.
Every sub has cloud-based access to all the drawings and other materials needed to complete projects. No more downtime while waiting for paper copies. Many of these apps also provide the ability to print for those who need paper.
Subs work as collaborators in real-time. No more waiting for calls from the construction manager to get the job done. Subs can be scheduled by managers or schedule themselves. The work gets done faster, and they get paid faster.
Punch lists can be maintained as integral parts of the management app. Punch items can be documented, assigned, given a deadline, and the app can notify and track progress as subs fix and upload documentation and proof of resolution.
There is much more functionality than can be covered here, and all from a single source. Investors can be brought in as team members, allowing them to monitor the progress of the project without having to come out and find construction managers and subs on-site.

Using technological advantages, such as SaaS apps to manage construction projects saves both time and money for every stakeholder. Communications are more efficient; problems can be resolved quickly and documented accurately. This decreases both warranty calls and quality litigations later.

It is impossible to overstate the level of trust that is built by a multifamily renovation company’s commitment to transparency. Even when there has been a problem, these companies only benefit from honesty and transparency. Investors can be remarkably long-suffering when they are sure they are not being scammed.

Other Areas for Transparency

Using SaaS tools is not the only way to guarantee transparency. The construction supervisor should be available to answer questions that are posed by the investor. Investors should understand that they significantly decrease the efficiency of the construction supervisor by hounding him with questions, but they should be given an open door policy for questions and concerns.

Budgetary transparency is another key area that builds trust. An investor is putting their own future financial success on the line by investing a huge sum into a multifamily renovation project. They deserve to know that the money is being spent appropriately at every phase of the project.

An investor has the right to know who is doing the subbing on the project. They should have a say in the teams that are coming in to work on the project. Usually, there is not a problem, but if there is a misgiving on the part of the investor, then it needs to be promptly addressed or remedied.

Occasionally there are conflicts of interest, such as a construction manager that seeks to give preferential treatment to subs that are friends or relations. This type of subbing should not be hidden from investors, and they should give a yes or no.

Timelines also should be given full transparency. Projects are not always done on time, and everyone has some expectation of stalls along the project timeline. However, everyone should be able to track the progress with full transparency, including the investors. This also aids in work accountability with subs when they know that stakeholders are tracking money spent and the time it takes to complete.

Choose a Renovation Company Based on Style

This is the fun part of choosing a renovation company. The investor usually has a certain style or vibe in mind when they look at a building for renovation. Perhaps the purchase is a downtown industrial building that they wish to turn into a multifamily unit that maintains the urban industrial vibe.

Alternatively, an assisted living facility may need to do a major renovation without making residents feel like they have stepped onto the moon when the project is done. The upgrades may need to be subtle and tasteful to the residents while increasing the longevity and luxury of the buildings.

In other cases, an apartment building may need both interior and exterior renovation, but it has residents living in many of the units. The renovation needs to be completed around current residents, updating empty units and common areas, without displacing or unnecessarily upsetting the lifestyle of current residents.

In any case, a great multifamily renovation company will have the ability to make the needed upgrades and changes while being respectful to the wishes and needs of stakeholders and current residents.

Note examples that are given in the portfolio, but ask if there are examples of work the company has done previously that is along the lines of the current project under consideration. Never assume that portfolios represent a complete body of work.
Visit buildings that have recently undergone a similar transformation and ask about the company that did the renovation. Also, find out if they were good to work with. A company that can give a chic look but makes the project a nightmare is not the one to work with.
Be specific when giving specs to a company in the inquiry phase of the project. Provide drawings, if possible, so that everyone is on the same page from the beginning.

Styles change all the time, and renovation companies make their money by being able to flex and adapt to the decorative whims of the day. Decorative choices and changes should not be difficult for any multifamily renovation company. They will likely have some great ideas to add to the project and be willing to innovate with new ideas as well. Innovation is the bread and butter of renovation.

Choose a Renovation Company That Communicates

Sometimes it is clear from the beginning when a company does not value clear and frequent communications. Perhaps it is hard to get information on quoting the project, or they seem offended when you ask how they track projects.

These are telltale signs from the beginning that the company does not value communication and that investors are expected to hand over the money and then stay out of the way and not ask questions during the project. This style of management is a bully style, and the company that employs it should be avoided.

Look for a company that is upfront with information about projects, portfolios, team members, methods, and accomplishments.
Look for a company that has more than an email as a means of communication. Sending an email is just fine, but they should be available via phone calls, social media, and other methods as well.
Look for a company that employs real chats on the website with real people and not chatbots. While chatbots are efficient, nobody wants to be stuck with a chatbot instead of a real human on the other end.
Find a company that encourages inquiries and communications even in the discovery phase of the relationship.
The company should be willing and able to respect personal communication preferences such as email or text only. They should also have an alternate communication method that allows for easy group communication on the project.

Companies that value interpersonal communications may not be big on meetings. Meetings can be a big waste of time. Rather, they are willing to take the time to have a quick chat about an issue and escalate it to a short meeting if necessary. Those who use SaaS communications will seldom need in-person meetings.

There is a feeling about a great multifamily renovation company that can best be described as open-handed. They are generous, friendly, accountable, and frank. Clients should feel like they can be candid with the principals on the project, even in the discovery phase, without putting the renovation company on edge.

Choose a Renovation Company by Budget

Choosing by budget does not necessarily mean that an investor should choose the cheapest option or the most expensive option. Rather, that the company should be willing and able to find ways to stay within or below the project budget.

This ability comes with being willing to work hand in hand with the investing stakeholders to find ways to deliver the final project in a way that does not go over budget. Some areas may go over budget, but ways should be found to bring the overall budget back in line. This requires flex on the part of the investor as well and a willingness to give up some ideas to fund others.

Do the homework to determine an accurate budget and secure funding before beginning the discovery phase. When an investor goes into a project with a fuzzy idea of funding, nobody wins.
Provide a project budget based on full disclosure. Withholding budget or funding information, especially once the renovation company has been chosen, will not make for a smooth project.
Give expectations based on full disclosure. Never assume that the renovation company has an intuitive knowledge of expectations. Give them clear and upfront instructions. Open communication is key to working well together.
Be willing to flex on all aspects of the project. To stay on a budget, some items may need to be struck or downgraded to give wiggle room in the budget for more expensive items or unexpected problems. For instance, foundation problems may need the budget that was slated for motorized skylights.

Budget limitations sometimes seem like a big problem in a project, but they are usually secondary to the ability of stakeholders to flex on parts of the project. A great investor will understand this and either be willing to flex or secure additional funding. A great multifamily renovation company will be able to find ways to stretch the budget.

Choose Subs for a Multifamily Renovation Project

Occasionally, investors are also contractors who have the ability and contacts to manage the renovation project without hiring a soup-to-nuts renovation company. This is a fantastic way for builders to maximize ROI on any given project, especially when newer technology is employed to manage the project.

A contractor can hire a manager or self-manage the construction project. The options for project management should be considered carefully, as poor project management always means a loss of money.
The contractor can sub out particular aspects of the project, such as cabinetry and countertops, while hiring day labor for smaller projects or using on-staff framers.
Subcontractors can be included in collaborative tracking SaaS applications, allowing for efficient communication and scheduling of all aspects of the project, and providing punch list accountability.

Investors should choose subs with the same methods of accountability and ethical standards as those who choose complete multifamily renovation companies. It is no more fun to have a tiling company that never shows up on the job site than it is to have a renovation firm that never returns phone calls.

A great commercial renovation firm will provide a customized solution that meets the needs of current or future residents as well as the needs of the stakeholders. These solutions should be complete, affordable, and turnkey. Even owner/builders should expect that subs will handle all aspects of their project to completeness.

Look locally for subs that can do the work, but do not limit the options because some of the best subs are available for hire from coast to coast. This type of growth occurs because the workmanship and materials are outstanding, so they receive referrals, and the company grows over time.

Companies like Superior Commercial Solutions can provide custom cabinetry, countertops, sinks, mirrors, glass, and accessories for multifamily projects anywhere in the US. They create a custom plan, have the items made to order, have them shipped to the site, and then do the installation themselves. In this way, they can guarantee that the job is done right from the beginning to end.

Contact Superior Commercial Solutions

Choosing a great multifamily renovation company requires some initial investment in project exploration, but it more than pays off in the end. For the best workmanship and materials on commercial cabinetry, beautiful countertops, and coordinating sinks, surrounds, and more, Superior Commercial Solutions will deliver multifamily project results that exceed expectations every time.

Superior Commercial Solutions specializes in beautiful and complete custom cabinetry and countertops that are made to order and installed by our expert staff. We can be contacted anytime and will deliver a quick response and provide a quote. We have worked on several commercial projects across the United States. Check out a sample of our work here.