How to Add Value to Your Multi-Family Buildings In 2023

If you own one or more Multi-Family buildings one of the best things you can do before the end of the year is to add value to your properties.

In this post we will share with you several tips you can use to add value to your multi-family properties.

Tip #1 – Make Your Multi-Family Property Energy Efficient

The first thing you can do to improve one or more of your Multi-Family buildings is to make your buildings more energy efficient.

Consider adding low flow toilets, water saving shower heads and energy efficient appliances like dishwashers or refrigerators.

Besides installing energy efficient appliances into your multi-family rental you should also check the seal around doors and windows in each unit to make sure they are all properly sealed and insulated especially when the cold weather arrives.

Tip #2 – Make Your Building More Tech Friendly

Since just about everyone these days uses their cell phone as their primary phone you should contact one or more of the local cell phone providers and consider adding a cell phone relay tower to the roof of your building to improve range for all tenants.

This especially important following Covid-19 when more people are working from home than ever before.

Adding more tech friendly features to your rentals will make them irresistible to work from home tenants.

Tip #3 – Convert Unused Space

Last of all, but most important, if your multi-family rental property in has unused space you should consider converting that space into a laundry room, common area or another rental if possible.

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