Lucrative Multi Family Amenities!

[Edgardo Jove]

Hi All, 

I'm looking for some suggestions on amenities that can boost my rents/sqft in my two-unit apartment building. I'd prefer them to be unit specific however, community based amenities would also be helpful. Some examples I'm looking for are "I added central A/C and I was able to increase my rents ~$50/month" etc. I've found it somewhat difficult to find this information specific to Chicago so hoping some more tenured investors can give me some help here. Thanks!

[Edgardo Jove]

Quote from @Corby Goade:

Quote from @Edgardo Jove:

Hi All, 

I'm looking for some suggestions on amenities that can boost my rents/sqft in my two-unit apartment building. I'd prefer them to be unit specific however, community based amenities would also be helpful. Some examples I'm looking for are "I added central A/C and I was able to increase my rents ~$50/month" etc. I've found it somewhat difficult to find this information specific to Chicago so hoping some more tenured investors can give me some help here. Thanks!

 In my experience, upgrades generally don't increase rents, but they can minimize vacancy. The best thing you can do is manage professionally and offer a clean product at market rates. You'll be rewarded with good tenants and minimal vacacy, which is cash in your pocket. 

 Thanks for the response! I'll take this into consideration.