Real estate investment trusts (REITs) can be lucrative income-producing investment vehicles, but they also require management to protect and enhance property portfolios.

Remodeling and renovations are a fact of life for the most successful REIT managers to reduce vacancy rates, protect property values, and optimize return on investment.

Investor groups and investors nationwide rely on Charter Construction Group as their commercial property renovation company and residential general contractors to keep their facilities in top shape.

REIT Property Remodels and Renovations

Successful REITs know that it takes a fair amount of TLC to keep properties in great shape. Along with ongoing maintenance, remodeling and renovation ensure the value of the property remains high and produces a good income stream.

REITs collectively own more than $4.5 trillion worth of assets in the U.S. Listed assets alone have an equity market cap of more than $1.4 trillion. Renovation and remodeling ensure these properties continue to generate revenue and appreciate in value. As a result, as an industry, REITs invest more than $85 billion in construction and capital expenditures to maintain or improve properties each year.

Maximizing Revenue in a Competitive Marketplace

Remodels and renovations help you maximize occupancy rates and retain tenants in an increasingly competitive marketplace. While current conditions vary by category, working with a property renovation company can enhance the value of your property and make it more attractive to tenants.

Office Buildings

Since the start of the pandemic and the move toward remote employees, occupancy rates for many commercial office buildings have fallen. Even as things return to normal, about 25% of metro office vacancy rates are still below levels in Q1 2020.

Commercial and Retail Properties

The “retail apocalypse” and increases in online shopping have changed the landscape. Commercial and retail have bounced back to some degree from pandemic highs, although vacancy rates are still above pre-pandemic levels.


Unlike some other investment properties, apartment occupancy is at record levels. A recent Bloomberg report put occupancy of professionally-managed apartment units at 97.5% nationally. Rents have risen significantly.

Total returns in the residential housing market dropped by more than 30% in 2022, but a shortage in available rental properties may help stabilize the market in 2023. Still, concerns over rising rental rates may price some renters out of the market. Those that can afford higher prices will likely demand higher-quality units.

Warehouse and Industrial Buildings

Industrial vacancy rates decreased in 2022, and more supply is in process. At the end of 2022, more than 742 million square feet of industrial builds were under construction — adding an additional 4% to the total marketplace. Strong demand for increased space is forecast to keep rates low.

Managing the Challenges of REIT Remodeling and Renovation

Regardless of which type of real estate your REIT invests in, maintaining an attractive and safe facility is important to long-term profitability.

Charter Construction Group offers commercial and residential construction solutions backed by deep experience in managing the challenges of REIT remodeling and renovation. We understand what it takes to do the job right, including:

  • Minimizing downtime. We work with property owners and facility managers to schedule work to minimize downtime and disruption.
  • Safety. Protecting your property and tenants is our top priority. We do a risk assessment for each project and take proper safety precautions at each site, including adherence to industry safety compliance regulations.
  • Cleanliness. We take exceptional care to keep your property clean. We believe it is a direct reflection of professionalism.
  • Discretion. We also know the challenges REITs face when it comes to discretion. We take proactive measures to safeguard your information and your company.
  • Documentation. We provide status and progress reports for the duration of your project, making sure you are always up-to-date on what is happening.

Charter Construction Group is the choice of many REITs as their property renovation company because we provide a one-stop solution and consistently exceed expectations. Whether your property needs a comprehensive remodel or whether you want to reorganize existing workplaces, freshen up color schemes, or modernize your facilities, Charter Construction Group is here to help.

Charter Construction Group offers top-tier REIT renovation solutions. Request a consultation to see how we can help you maximize your return on all your projects.