Smart Ways to Increase Profits in Multi-Family Real Estate Investments
Technology has been a major influence in numerous industries this year, and multi-family real estate is no exception. Among all the move-in ready amenities that residents desire, including in-unit laundry machines, and a gym/fitness center, studies have shown that none are sought after more than technology upgrades, even more, they are willing to pay a higher rent for it.
Upgraded technology features that are most popular include high-speed internet (offered in package deal with rent), and smart home features. In fact, according to Entrata, a Utah-based property management software company, over half of residents surveyed would be willing to pay an additional $20 per month for smart amenities such as keyless entry into the complex, or smart thermostats among other things.
These types of technology amenities have and will remain a key determining factor for potential residents to consider when choosing a location to rent. Being ahead of the curve with this type of thing will undoubtedly set you apart and offer your property an advantage.
For further information on managing your property effectively and successfully, visit www.ckrpropertymanagent.com/contact today to speak with a veteran in the residential real-estate market!