5 Reasons to Refurbish your Lobby

Your condominium lobby says a lot about your building and its residents. And it isn’t all about looks – great lobbies have as much substance as they do style. Here are five important reasons to consider refurbishing your building’s lobby sooner rather than later.

1. First Impressions are Important

Lobby refurbishment is a vital project for condominium buildings as they are the first thing that both residents and visitors see upon entering. A well-designed lobby refurbishment should create a lasting positive first impression for visitors and make residents feel proud to live there. Every building is different and the personality of the lobby should reflect the uniqueness of its residents and location.

2. Financial Investment

Folio works closely with property managers and provides them with tools and information to aid the condominium board with identifying necessary upgrades and establishing a realistic budget for a lobby refurbishment project. Together the manager and board work together to determine the scope of the project based on the building’s needs and budget. This can range from cosmetic upgrades like new paint and furniture to more extensive renovations like upgrading finishes, flooring, lighting, wall treatments, concierge desks, and parcel rooms.
Lobby improvements can help to increase the value of a property and therefore often warrant the expenditures. It is hard to put an exact number on the perceived value of a lobby refurb but many real estate agents estimate an increase of 10-15% of suite unit prices if common spaces of buildings are updated and appealing.

3. Form meets Function

A well-designed lobby refurbishment will make it easier for residents to navigate and use the facilities. While taking into consideration the building’s brand and image, designers play a critical role in ensuring that the lobby refurbishment project enhances the building’s functionality as well. Consideration of daily activities such as waiting for ride pick up; package delivery; brief meetings; seasonal weather considerations; make a tremendous difference in the convenience and comfort of shared residential life.

4. Community and Lifestyle

Regardless of style, the goal of all good lobby design is to use the overall aesthetic to create an inviting and welcoming space that serves as the central hub of the building. Although a lobby is not a living room, it does serve as a gathering place where residents meet, share daily routines, and greet guests. A well-designed lobby environment can foster a sense of community and provide an important backdrop to meaningful social interactions.

5. Safety and Security

A lobby refurbishment is also an opportunity to improve security measures. Condo building boards have a duty to protect the safety and security of residents within the common spaces of the building. As the building’s governing body, the board is responsible for making all major decisions regarding building maintenance, finances and security. Since the lobby is the first line of defense against unauthorized access to the building, consideration of practical and up-to-date security is of utmost importance.

A lobby refurbishment can be a significant expense, but Folio serves as an advisor to the property manager so that the project is cost-effective while still maintaining an exciting aesthetic. Like any successful project, communication is paramount when entering into a lobby refurbishment. Folio makes sure property managers are informed about project timelines, expected disruptions, and any changes to building access or services during the renovation. Board and resident expectations must be managed carefully in order for there to be minimal impact on living routines and building operations. Together, Folio and the property manager work to ensure a successful and fabulous refurbishment project!