The great Value Add ideas thread - Calling all MF owners

[Joseph Gozlan]

Calling all MF owners <<<

Do you have ideas how to add value to multi family properties? Let's add them all in a big thread and then we can either ask the mods to make it a sticky or I could aggregate it all into an excel file and load it to the files section.

Don't be afraid in being specific about an area/type/location of the property, even if it's not relevant to all, it might help someone in similar situation.

I'll get us started with some ideas and it's divided to 3 categories:

Increase Units Attractiveness

• Christmas lights during holidays
• if none, add Dishwashers
• Initiate a referral program

Extra Income

• Add Storage units
• If relevant, install a highway sign for advertising
• Reserved parking
• Convert a unit to a vacation rental (in appropriate locations)

Reduce Expenses

• Check with the city what you can get for free (i.e. Fort Worth offer low-flow toilets for free)
• Buy in bulk
• Stock on AC condensers from CraigsList (negotiate a super cheap price)

looking forward to read your ideas!

Joe