Tip of the Month-January 2005

UPSELLING (cont. from 12/04)

Source: Journal of Property Management

By Laura Otto

(Andrew Chaban, chief executive officer of Princeton Properties)

"A renovation project should focus on location and functionality.

For example: rather than replacing all the cabinets in a kitchen, maybe all you need to do is change the door handles. Pick a modern, eclectic knob for a cost of about $100.00 total and you have a whole, new look. Get creative in your thinking." 


(Jennifer Nevitt, CEO & Chairman of Bravo Strategic Marketing)

"Minimizing the functional obsolescence of the product design is more important than repositioning the real estate asset. Quality of life issues that are specific to consumer needs & wants include:

security, natural light, full size washer & dryer connections, private entries, convenient mailboxes, private yards, open space, etc."  


(Larry Kessler, Cofounder & President of InteliCable Group)

Obviously you cannot plan the renovation of a property without giving considerable thought to technology. VCR access, computer, remote control, cordless phone, cable, fax,: to plug in a computer, you need a dedicated connection and another for a fax:" 


(Louise A. Crossett)

Most all appliances including but not limited to heating systems/hot water tanks, air conditioning units are upgraded to use updated GFI outlets/most heating systems do not use the old chimneys. Tenants spend more time outside, requiring exterior updated, GFI outlets & security lighting/garage opener ability: electric updating should be a priority in any planned renovation. Venting also should be another major consideration.

Return to prior page

This web page was updated on 12/21/2004.