How Landscaping Can Help You Compete with New Builds

By Jason Wegiel

As of January 2023 , there were 40,000 new multi-family units under construction , with 20 % to 30 % of those units coming onto the market in 2023 . To stay competitive , property owners and managers of older multifamily communities need to seek unique methods for attracting tenants , especially if these properties have a limited capital project budget .

One simple investment is landscaping . Landscaping is one of the first impressions a potential tenant has before stepping foot into your facility . Landscaping , especially with trees , can increase property values by as much as 20 %. 1 Healthy , mature trees add an average of 10 % to a property ’ s value . 2

1 Management Information Services , ICMA 2 . USDA Forest Service www . aamdhq . org JULY 2023 TRENDS | 27