In today’s market, multifamily represents the most stable and sought after real estate investment property type in the commercial and residential sectors respectively. With that said, it’s imperative that Owners factor in preventative maintenance strategies to assure building conditions remain in order long-term. One such strategy is sustainability. Sustainability by definition means the “ability to satisfy the basic needs of today without compromising the ability of future generations to satisfy their needs”. In other words, the same resources available and utilized today should be accessible in the same capacity to future generations as well. Acquisitions of value-add/non-performing apartment assets requiring any level of retrofitting or remodeling units within stabilized assets during vacancy between tenants both present an ideal opportunity to incorporate energy efficient solutions – hence sustainability.
Read more...The Sustainable Future of Multifamily via BiggerPockets.com
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