TIP OF THE MONTH - June 2013
Source: Journal of Property Management
Diana Mirel-William McCarthy
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.
This web page was updated on 05/29/2013.