Purchasing 6 fam in B area that is close to a university and business district. Property has a 9 car parking lot in rear which I was considering adding a covering for cars and bikes. Anyone have experience with this as a value add? Also considering a key fob security system as an added safety feature. Would love to hear opinions on which or both and why. Thanks all so much.
Show the construction bill you can claim close to your cost as added value. Actually, in residential home adding a carport etc it is adjusted a portion of total cost. I used $5K for a door garage, $2K for carport per vehicle. Your 9 car port can be ~$18 (your cost) more. Bike cover is unlikely to have any added value. May be it is a plus on the rent side. No lenders have questioned my adjustments.
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