Commercial Investment Property Articles

How far in advance should you get your Apartment ready to go “on the market"?

Darin Garman, CCIM
Copyright 2006 All Rights Reserved

Apartment property investors are constantly asking me when is the ideal time to get their properties ready to go "on the market."

Well, in my opinion I would start getting things ready at least one year ahead of time. I know, timing is everything and you may not have this much time due to circumstances being what they are, but ideally it should be about a year.

Why a year? The MAIN reason is to get the rent up as high as possible. You know the tenant that you have been really nice to over the years. Letting them get by with lower (sometimes a lot lower) than market rent? Well time to get the rent up there.

Why? Remember, the main points of value will more than likely be the cash flow the property produces. So, the rents are key here.

Also, this will give you time to do the necessary work and capital improvements that the buyer would possibly discount once the property is on the market. I have known buyers that have literally changed the value of their buildings by tens sometimes hundreds of thousands of dollars by doing these things.

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Copyright 2006 Darin Garman, CCIM, All Rights Reserved.
Apartment and Commercial Investment Property Specialist