Multifamily

Multifamily Construction & Renovation

General Contractors

At ELITE Construction we focus primarily on multifamily construction, which includes apartment buildings, condominiums, duplexes and town houses. As general contractors, we handle construction projects from the ground up as well as renovations. In fact, property owners and investors benefit from our work in a number of ways.

Benefits

Lower Tenant Turnover

Tenant occupancy is a vital metric for investors and property owners involved with multifamily construction. Their main source for return on investment income is rental payments. Maintaining high, stable occupancy leads to viable investments. Furthermore, aesthetic and practical living spaces that provide market competitive amenities can help lower tenant turnover rates. .

Dramatically Increase Competitive Stance in the Market

You can dramatically increase your stance with market competition by keeping up with building standards and providing state-of-the-art multifamily renovation. Whereas family home construction has slowed down, construction of multifamily living spaces is on the rise, especially in the larger metropolitan areas.

Substantial Increase in Rents

Rents increase proportionately with the value of living spaces. Currently, there is a considerable market for multifamily general contractors to do upgrades and renovations. By doing so, property owners can increase their rents and also stay competitive.

Reduce Costs

Multifamily construction companies can lower operating costs for their clients through sustainable building practices. Sustainable materials combined with environmentally friendly building methods minimize waste by doing the following:

  • Lessening the use of toxic building materials
  • Providing highly efficient HVAC systems
  • Lowering the costs of electricity and water use
  • Improving energy through technologies that utilize natural light, landscaping and building orientation

Property owners and tenants both benefit from these cost reductions. In addition, sustainable building designs provide clean air and an overall healthy indoor living environment for multifamily occupants. Owners are less at risk for insurance claims based on poor air quality or allegations of sick building syndrome. This trend has tended to offset insurance costs.

Increase Tax Benefits/Cost Segregation

Federal and state tax laws allow cost segregation, which is a tax planning tool that speeds up the depreciation of real estate properties. Investors can take advantage of this deduction to reduce yearly state and federal income tax payments. In general, it reduces the expenses of owning real estate.

Lower cap rate

Essentially, cap rates or capitalization rates indicate the rate of a property’s ROI. The amount of time to recover an initial investment is vital for property owners. The lower the cap rate, the greater value a property has. It also indicates a lower risk involved with the investment. High quality construction that employs state-of-the-art building methods can lower the cap rates and be a valuable benefit. At ELITE Construction when taking on a project, we consider and incorporate factors that can lower the client’s cap rate.

Upgrade of Apartment Class with Modernization and Renovation

When Commercial Real Estate investors rate apartments into classes A, B, C or D, they take into consideration various factors. By upgrading your apartment class, you can obtain a top rating. This alone helps you raise rental income and increase your occupancies. Some of the main improvements that differentiate classes are the number of amenities, newer fixtures and appliances, and fewer maintenance issues. At ELITE Construction we work with clients to help them achieve their construction improvement goals.

Attract Higher Quality Employees

Property owners hire staff to handle various functions related to apartment management. Staff handle rent collection and accounting records. They maintain the upkeep of living spaces and deal with other related to housing management.

When you upgrade the property and increase the value of your multifamily building, you can attract higher quality employees, which is an added benefit.

Attract-higher-quality-employees

Are you considering a multifamily construction or renovation project?

Our multifamily contractors apply their extensive skills and experience to every project we take on. ELITE Construction is your single contact point for project control and accountability. Find out how we can assist you with your construction project. Contact us through our online form or give us a call at (469) 669-3902.

Subcontractors

If you’re a subcontractor, find out about becoming a team partner.

Contact Us

We at ELITE Construction look forward to the opportunity to build your next commercial construction project.
Our staff is ready to be your partner the entire way from pre-construction to delivery.

Reach out to our ELITE Team today to get started!

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