5 Reasons Why A Rotating Art Rental Is A Great Investment for A Residential Building’s Lobby
If you own or manage a residential multi-unit building, you’ve got a lot on your plate. Between building maintenance and upkeep, the financial side of things, and finding new tenants, a residential building can be a full time job. That’s why a rotating art service, like IPaintMyMind’s Art Rentals, is a fantastic solution to save time and minimize stress. We help you choose the perfect art for your building’s lobby or other shared spaces, and do the installation for you. In a few months, we’ll be back and ready to find fresh art to revitalize your space. You can forget about your rotating art service because it does the work for you, leaving you free to handle everything else.
But, do you really need art in your residential building’s lobby? These days, the answer is absolutely yes.
Real estate prices, property taxes, and just about everything else are on a sharp uptick, and it’s more important than ever to elevate your design game. A great lobby space and welcoming communal spaces will make all the difference to a prospective tenant. These spaces are the first thing that someone sees in your building, and will influence their impression of the building as a whole. By including carefully curated art, you make the quality of your building clear, and show your prospective tenants that no part of their living experience is an afterthought.
5 Reasons To Get Art On The Walls Of Your Building’s Lobby With A Rotating Art Rental Service Like, Right Now
1. It Makes A Great First Impression
First impressions are everything, and you don’t get a do-over. You have one chance to impress, and it starts in your residential building’s lobby space. No matter the layout, whether stairs, elevators, a desk, or mailboxes, the lobby is a space that your tenants will spend a lot of time looking at. It needs to be striking and well thought-out.
We’ve all walked into a residential building and been underwhelmed by the drab, lonely, and abandoned lobby space that sits just inside the front doors. No matter how lovely the facade, or well maintained the units, the lobby becomes a blight on the building. Turn this situation upside down, and invest in your lobby space. It will pay you back in dividends!
2. A Rotating Art Rental Keeps Things Fresh And New
If you look at the same piece of art everyday as you enter and leave your apartment, it’s bound to get old eventually. One day, you might just stop noticing it at all. Interrupt this process amongst your residents with a rotating art rental! It will keep them interested and engaged with your building’s lobby space, and impressed by the level of care that you are putting into their living experience.
IPMM’s Art Rental Service has a 12 month minimum commitment, but you are free to decide when you want to rotate your art! Generally, we recommend a rotation every 3 months for a residential building, but you’re free to decide when you need something new. Mixing up your art will lend a whole new atmosphere to your lobby space, and keep renters excited about the place that they live.
3. A Great Lobby Space Sets You Apart From Your Competition
Competition is not as talked about in the residential real estate world, but it’s an ever-present force. Most likely, in the immediate vicinity of your residential building, there’s dozens more renting out similar units for a comparable price point. When you are dealing with rental units, so many factors are at play. Price is offset by value, which can come in a multitude of forms.
As we’ve all seen in 2020, the shape of the housing market and the world of work is always in flux. Finding renters who want to stay for more than a year will help you gain financial security and withstand any future bumps and jolts. So, the name of the game is attracting longer-term tenants by offering your renters amenities, good and timely service, and a sense of community. You have to set yourself apart from the rental buildings around you, and investing in your lobby space is a great way to do that. Make it welcoming, cozy, and interesting to get and keep future and current tenants hooked.
4. Help To Create A Sense of Community And Comfort
Renters crave a sense of community, comfort, and safety in their buildings. In a multi-unit residential building, this can be hard to find. So often, residential buildings neglect lobby spaces, forcing tenants to scramble in and out of the building, never pausing to say hello to neighbors or linger.
A great lobby space will go far in creating the kind of environment which is attractive to long-term renters. By adding artwork and making your building’s lobby somewhere that tenants want to be, it fosters hominess and community. If you have chairs and tables in your lobby, perhaps your tenants will start congregating there for get-togethers, meet and greets, or interest groups. A cheerful and creative environment with art on the walls has actually been proven to elevate mood and leave folks with good impressions of the space that they were in.
5. Stay Local And Connected
A rotating art rental space is a fantastic way to deepen connections with the neighborhood and your building’s surrounding community. With IPMM’s Art Rental Service, you can select local artists to display on your building’s walls to show that you care about your neighbors and supporting local creators. It’s also likely that some of your residents may be familiar with local artists, creating excitement and pride in your building.
Our Art Rental Service helps you stay connected in another way as well. All of the profits from your rental will go directly back into the community, providing no-cost high-quality arts programming to Chicago Public Schools. It’s our “Get Art, Give Back” model, and it’s an amazing way to show that you care deeply about your building and your tenants.
To schedule your IPaintMyMind Art Rental consultation call, click here.
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