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Snippet: How Far Should We Go With Renovation To Increase The Occupation Rate
When it comes to renting out your units, I think the lesson here is that we have to strike a balance between profit and marketing. Sure we can save a ton by not renovating but if it does not provide enough comfort for tenants, that is bad marketing over the long term and eventually it will hurt profitability really bad.
My take on this one is to invest in renovation such that it turns out to be ideal for tenants to pay you a decent rent.
Listen to the full conversation: https://open.spotify.com/episode/0LC0rfUXQZG2Hr5FkBbvTW?si=M_-2PhhZSYmCItS7NzJSKw
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By Ray LowWhen it comes to renting out your units, I think the lesson here is that we have to strike a balance between profit and marketing. Sure we can save a ton by not renovating but if it does not provide enough comfort for tenants, that is bad marketing over the long term and eventually it will hurt profitability really bad.
My take on this one is to invest in renovation such that it turns out to be ideal for tenants to pay you a decent rent.
Listen to the full conversation: https://open.spotify.com/episode/0LC0rfUXQZG2Hr5FkBbvTW?si=M_-2PhhZSYmCItS7NzJSKw