Why First Impressions Of A Multifamily Complex Determine Value
What Do You Think??
Every renter tells themselves that the quality of the unit is primary.
But what really happens is that the perceived state of the property sets the tone, and the presentation of the leasing office seals it. By the time potential renters see the units they have basically made up their mind.
This is why, when passive investors look for a value-add deal, they should prefer the slightly junky building to the polished complex.
There is some “meat left on the bone” to do an obvious improvement and quickly boost the rents.
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