Thinking about selling your multi-family property? You might want to prepare your property for sale for a better chance at a quick sale at a higher price. There are five tips for selling your unwanted multi-family property in Milwaukee: update the parking area, add more curb appeal, update the common areas, keep the doors and locks in working order, and keep your paperwork in order to keep track of rent payments and analyze the property’s return on investment.
When you want to sell your unwanted multi-family property in Milwaukee, the first thing you want to do is to improve the parking area. If you invest in a seal coating or fix all of the potholes, it will look more pleasant and will bring more people in. If the parking lot has a lot of cracks and holes, it will make your whole property look not too well maintained, and future tenants may be afraid of damaging their vehicles. This doesn’t have to be expensive; you can always buy an asphalt patch from the hardware store and make a quick fix for it. Taking care of a parking area can be a quick fix that will help you sell your home fast.
The second tip for selling your unwanted multi-family property in Milwaukee is to step up the curb appeal. Start with a pressure wash to clean off any dirt on the driveway or structure walls. A new coat of paint could do wonders to clean up the look of your multi-family house at a small cost. Have the hedges trimmed, plant some area-appropriate foliage, and add fresh mulch to the plant beds. If you leave the basic maintenance undone, this may convey that the property is difficult to maintain. A little effort can have a large impact on future buyers’ perception of your property for sale.
Another tip for selling your unwanted multi-family property in Milwaukee is to update the common areas, if there are any. This may include courtyards, porches, pools and laundromats, anywhere where tenants have equal rights to share on the property. Buy some new outdoor furniture, repaint all of the scratches, redecorate everything, and you will improve the perception of the property and make it more appealing for all the potential buyers.
Doors and Locks
The fourth tip for selling your unwanted multi-family property in Milwaukee is to fix any squeaky or broken doors. Oil all of the locks so everything works smoothly and to prevent any delays in opening or unlocking the doors. This will also help your property look well maintained.
Paperwork in Order
The fifth tip for selling your unwanted multi-family property in Milwaukee is to have all of your paperwork in order. You will want to have all of the important documents ready for potential buyers. The list of documents that would be helpful to the buyers would be any roof warranties, HVAC documentation, and receipts of any recent building improvements. Another set of important documents would be the cash flow and other financial statements. The buyers of multi-family homes will most likely be real estate investors who would need to see the financial statements to determine if the property would fit in their portfolio. Keeping your paperwork in order and readily available shows that you maintain your property and records.
Buyers will be more willing to make an offer on your property if they can purchase it with little to no effort to fix up the property. They may also be willing to pay a little more than their usual because they didn’t have to do the upgrades themselves.