Every piece of rental real estate is built with thousands or even millions of different types of products and materials. From the entry door handle to the overhead light bulb, each product has its own unique purpose. Below we take a deep dive into everything you need to know about building products for rental real estate properties.
What are Building Products?
Building products are the processed and ready made finished items that are used in a modular fashion throughout the construction building process.
Types of Construction Building Products
Building products can be thought of as the finished products that are ready to install into your rental property. Below is a list of the most common types of building products found among rental properties:
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Rental Property Building Products FAQ
Where to Buy Building Products?
Building products are bought at construction material supply stores. These retailers include home improvement warehouse stores, local hardware stores, online storefronts, and specialty stores. Depending on the size, products can be bought in-person or online. In both cases, many retailers have also begun adding the option to deliver the products right to the job site as well.
What are Green Building Products?
As the world continues to push for more environmentally friendly consumer products, many building product manufacturers have faced increasing scrutiny. The United States EPA estimates that construction waste is generated at double the rate of typical consumer waste. A proposed solution to this issue is to switch to “green building materials”. Green building materials are those that are composed of renewable resources. Examples of green building products include rainwater harvesting, water-based paints, and solar power energy.
What is the Difference Between Building Products & Building Materials?
Although often used interchangeably, there actually is a difference between Building Materials and Building Products. Building Materials tend to be more unfinished (i.e. requiring further refining) and are similar to “raw materials”. Building Products tend to be more finished products that can typically be installed with minimal modification to the item. They are both synergistically used together throughout the construction process. For example, you need a foundation and roof, in order to hang doors and install door handles on your rental property.
What are the Best Building Products for Rental Properties?
If you have ever walked the aisles of a large warehouse home improvement store, then you probably observed the countless options of products available. Among the many products out there, the best building products usually come down to a few things. Brand Name – While it may be cliche, reputable brand names hold their place in consumers preference for a good reason. Building products with recognizable brand names usually have a certain threshold of quality and track record for delivering good products. Reviews – Either in-person or online, fellow consumer reviews can give you honest feedback on how good a product is. Many major building product retailers have online storefronts where you can see reviews for their products. In fact, checking online reviews from other consumers is now a primary way to seek out the best products (think Amazon product reviews). Taking into account trustworthy brand names and reviews should help guide you in the right direction to the best products for rental properties.
What is the Difference Between Residential vs Commercial Building Products?
If you compare a typical single family home and a retail storefront, you will realize that there are some similarities and many differences. Building products are usually built to service a specific purpose for the structure’s use. In a single family rental home, basic amenities such as residential door handles are built to be used maybe a few times per day. In a commercial rental property, commercial door handles are meant to handle the high traffic of potentially hundreds of uses per day. Local building codes also will dictate which products need to be installed based on the property’s use.
How to Choose Building Products for Rental Properties?
Choosing the right building products for your rental property is an important decision to consider that can affect the success of your business. Any product should always be purchased with the following things in mind: ROI – Return on Investment (Will this product add value for my rental to bring in more revenue?), and Durability (How long will this product last with a tenant(s)?). With so many products available for landlords to update their properties, it can be easy to get dazzled with a new fancy building product that may (or may not) provide any long term benefit to your business’ bottom line. Considering ROI and durability will always ensure that the purchase decision is in the best interest of your business.
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Material Checklist for Rental Properties
Depending on the type of rental property there are common products that are found throughout the same types of assets. If you are just starting out or looking to scale up your number of units, a checklist for the most important products can be a great help. For example, below is a sample checklist of building products that would be used in remodeling a multifamily rental property:
- Fire Life Safety (Smoke & Carbon Detectors)
- Door Handles & Locks
- Ceiling Fans
- HVAC (Heating and Cooling)
- Kitchen Faucet & Fixtures
- Bathroom Faucets & Fixtures
- Appliances (*If included)