A strong landscape maintenance regimen should be part of your plan.
I’m always amazed how little value some owners/investors assign to a well maintained landscaped front yard, even though it’s the first thing prospective tenants and Buyers see when they pull up for a look.
I have some pictures here to show what I mean. We’re in the process of marketing the Twin Pines Apartments at 2755 El Caprice, Rancho Cordova.
The owners of this complex have spent the last couple of years improving this property which is right across the street from the new Folsom Lake College annex building.
A few days ago I drove by a duplex next door to us located at 2743 El Caprice and saw a beat up looking truck on the grass. This is what it looked like when I took the picture of it below.
Do you think this helps my Sellers in their quest to market their apartment complex?
Do you think the poor condition the owner allows the tenant to get away with is something neighbors on either side would like to live next to…?
Do you think any Buyer/Investor is going to take into account the poor curb appeal of the surrounding properties and maybe discount the value of this street more than if it was in a more “pleasant looking” condition…?
If you’re thinking of selling a home, I think everyone knows that curb appeal is something written about all the time as a big item to put on the “to do list” in preparation.
So if that’s true, why would it be different for an investment property like a Duplex, Four-Plex or an Apartment complex….?
By the way, do you think the owner of this duplex allows her home she lives in to look like this..? The answer is no because I took a copy of this picture you’ve seen here to her. She’s a a local investor and trust me her front yard didn’t look anything like this.
If you have followed this blog site for any length of time, this has probably been one of my passions over the years.
If you’re an investor, please don’t be one that just wants to take all the money out. Put some value back into your investment by creating a nice curb appeal that will draw the best tenants to you. They will pay you more in rent because they know you care about the property and so they will get that message and help take care of it too.
It also brings the value of the entire neighborhood up if everyone on the street did the same.
In the Mean Time…?
Make it a Great Day..!
ED FAVINGER, BROKER CRS, GRI, SFR, CDPE 916-203-1260 firstname.lastname@example.org
- Rancho Cordova gets application for new apartments (bizjournals.com)
- Ellicott Development considering Amherst apartment complex (bizjournals.com)