Buildings always want to put their best foot forward to attract and retain tenants. But in a marketwhere owners and managers are battling competition with tight operating budgets, they need totarget investment in areas that can deliver the most bang for the buck.
Class B and C owners don’t have the luxury of simply throwing money at a problem. Rising operating expenses, insurance, and debt service costs are all squeezing NOI. Most B and C operators simply can’t afford a comprehensive capital improvement plan. They need to be strategic and focus on lower cost, higher return investments that help to better position their building in a competitive market.