There are some interesting ways you can add value to your apartment building!
Have you ever wondered why the major players in residential real estate investment avoid single family homes? There are a variety of reasons that would lure investors towards an apartment building instead of a single-family home. But the most significant factor is the amount of control an apartment building owner has. Owners of large multi-family properties can easily control the value of their investment. This flexibility is something that allows investors to make improvements to increase the property’s value. Here are just a few creative ways that building owners can improve the value of their apartment building.
Sub-Meter Utilities
Some people enjoy having their windows open in the frigid winter while their heat is blasting. We also know that there are residents who never report that their toilet is running because they never actually pay for their water. Depending on the various mechanics of the property, sub-metering can be a massive addition to your property’s value.
Washers And Dryers
One of the first amenities that tenants look for in a unit is a washer and dryer. Long gone are the days of people going to laundromats to do their laundry. Having a washer and dryer in every unit can surely add a substantial amount of value to your property.
LED Lighting
With the increasing popularity of the go green trend, environmentally friendly alternatives are bound to add value to your property. Features like LED lights are a surefire way to boost the value of your property. By using so little energy, it’s a no-brainer to install LED lights in all the common areas on your property.
Vending Machines
The incomes produced from vending machines can, in fact, add value to your property. Placing a vending machine in a common area can be a surefire way to give your apartment building some additional value. In the end, there is little to no maintenance required for a snack or beverage vending machine. Most service providers will help place and service the vending machines in your apartment building while you get a portion of the profit.
Trust The Professionals At Clagett Enterprises For Your Real Estate Needs
If you’re looking for the perfect realtor for your property or to assist during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistant selling your home and getting the best possible price, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook, Twitter, Pinterest, and Google+.