Key exterior elements to improve curb appeal and property value

[Bradley Jernigan]

From my experience, I have learned repainting a building can immediately upgrade the exterior of a building. Also addressing exterior elements such as as siding, windows, doors and landscaping can all improve the curb appeal of a building. Are there any other exterior additions that can draw attention to tenants and improve the value of the property?

[Evan Polaski]

I think you hit on the big ones.  Just like a single family flip, you need to have a cohesive product from the moment the tenant/lender/investor/buyer step on the property.

Without going overboard on expenses, other items that are important:

Signage and directions, especially if leasing office is not at front of property.  Roadside/pylon signage should be the correct branding, big enough for people to see as they are driving and near all entry points.

Seal coating and restriping parking.  This comes from my days in value-add retail strips.  Some clean blacktop and fresh parking lines exude "this owner cares about the details".

A well-organized leasing office and clean clubhouse/bathrooms.  Anything that is visible, and even that which isn't, should be free of clutter.  It shows the tenants that the people working here are organized and likely responsive.  Same with bathrooms that a potential tenant may use in the leasing office or clubhouse.

I know a couple of these are not "curb appeal" items, but at the end of the day, multifamily is a customer service business, especially at the property level.  You need to show your customers that you care about them and the product you are trying to sell them: space in your apartment complex.