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!

[Bryan F.]

Quote from @Allan C.:

@Edgardo Jove I’ll ask a different question - have you done everything you can to minimize expenses? Expense reductions are more sustainable than margin improvements and they have the same bottom line impact to your P&L. In most commodities businesses expense optimization should be your first focus area.

Agreed. RUBS on sewer/water/trash, re-quote your insurance from a few carriers, and appeal your taxes to boost your NOI without spending money. Do the last two annually.