TIP OF THE MONTH - June 2013


Source: Journal of Property Management
            Diana Mirel-William McCarthy

Everyone knows that you shouldn’t judge a book by its cover.  However, property managers know first impressions are important:  A property’s physical appearance-it’s “cover”-is what initially draws tenants to a property.  Curb appeal matters and in today’s turbulent economic times, it matters more than ever. Curb appeal is much more than planting a few flowers.  Investing in and focusing on curb appeal through landscaping is simple smart business.

Abandoning landscaping completely is counter-productive.  When a property appears run-down and neglected on the outside, tenants will not be attracted to the property and vacancies will remain, regardless of what is on the inside.

Properties that maintain attractive landscapes are stating that they have stability.  Properties that see their landscaping declining are sending a negative message to prospective tenants, and existing tenants and their patrons.

Managers are switching from annuals to perennials to help boost a property’s budget and less effort, require less water and cuts down on maintenance costs.  Trees can also make a big impact on any property.  You can get decades out of a tree.  They are cost effective and if you do it right the first time, you will be saving money yearly on your upkeep.

Landscaping and ground maintenance are part of the operating costs of properties.  A property manager should have an understanding of every line item budget within those operating costs. The more information you have, the more control you will have of the process.

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This web page was updated on 05/29/2013.