In the Multifamily business we are always looking for ways to increase the value of our investments. When Increasing the value of apartment buildings, one way to do that is raise rents prices for future tenants with new upgrades. When thinking about how to to add value to your spaces - read on.

When you first buy a complex, it's important to use the space to the best of your abilities. Landscaping, replacing light fixtures, pressure washing, adding vending, laundry, dog parks and all kinds of small details can increase the value.
 

In addition, rebranding through a change of name of a older complex can really boost your value. Negative past reviews by unhappy tenants are hard to get rid of  but changing the name of a complex can wipe out the poor job a past owner performed. You don't want their poor performance to affect yours. 

  1. Some other effective ways to increase value:
  2. Installing a washer and dryer in each unit
  3. Rearrange parking
  4. Exercise rooms, pools and other common areas are known ways of increasing value and appeal.
  5. Billing for water, sewer, trash, electric and gas to the residents
  6. One time fee's or monthly fees for pets especially for apartments that already allow pets, but don not charge.
  7. Having a clubhouse that can be rented out for special events is another way

If you are still not sure about how to increase value, give me a call at Pinellas Commercial Properties - 727-418-1570. 

If you are yet to acquire your first property or experienced in apartment investing, call us to help you find your first, next or to dispossess a current assets. 

Alex P Williams - Commercial Investment Specialist

www.PinellasCommercialProperties.com

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