- Space and Amenities
- Location is one of the most important factors when assessing the property.
- A well-located property can command higher rents despite a lack of amenities or the presence of other negative features, but a well-maintained but poorly located site may not generate the income necessary to operate efficiently.
- Of concern for any site is where it is located in relation to residential areas, schools and college campuses, offices and neighboring industries
- The immediate surroundings of the property are also an issue; what is across the street and adjacent to the site affects the property’s image
- The square footage, layout, number of rooms, and amenities are other important site attributes
- Amenities include items such as parking, washer/ dryers, fireplaces, hardwood floors, fitness facilities, high-speed internet access, or anything else the resident finds valuable.
- Whether the resident must pay for certain utilities is also an important consideration