3 Tips for Value-Add Rehabs

Knowing a market’s trends and what contributes value are key in improving occupancy, rents and operations. Location may be everything in real estate, but condition and demographics are close seconds.

With the difficulty of getting work done because of supply chain disruptions, labor shortages and rising costs of materials and building systems, remodeled apartment communities can attract attention from competitors, which view them as good acquisition targets. Changes also can make them more appealing to the residents who prefer to live in highly ammenitized and updated buildings rather than in those not yet fixed up, unless a lower price point better fits their budgets.

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