Thinking of selling?
Here are my top 10 suggestions to prepare your building for a sale.
1. Paint or clean your building’s exterior and keep the landscaping well-manicured. You want Buyers to see that your building is well maintained.
2. Remove any items tenants have stored on their balconies.
This will add to the curb appeal of your property.
3. Clear garbage bins, parking lots, and other paved areas of debris, mattresses, or uninsured vehicles. A buyer wants a clutter free building and cleanliness also keeps pests away.
4. Update your lobby and hallways with fresh paint, new flooring, baseboard mouldings and light fixtures. Your building will be more inviting to a Buyer.
5. Keep the laundry room fresh with clean floors and a coat of paint. Add a personal touch with curtains on the windows.
6. Organize and properly store all items in the storage lockers. A clutter free area enhances the size of the room.
7. Clean your mechanical room by removing grease and clearing out any tools and supplies. Like a car, this is the building’s engine and buyers want to look under the hood.
8. Ensure that your rents are at market value and your tenancy agreements and notices are up to date. A turnkey operation is a great benefit when selling a building.
9. Collect your recent financial statements, rent roll, and service contracts.
Time is of the essence with offers so you want to be prepared.
10. Have a qualified accountant and lawyer ready for any advice you may need. Surround yourself with great professionals for a seamless transaction.
For more ideas on how to get more value for your building, call me!.