Topic: In your opinion what is the difference in A, B, C,D class properties?

In your opinion what is the difference in A, B, C,D class properties beside the rent, amenities and condition of the property?

Demographics, cultures.

Every property is different? I am not sure. Income overall is the major difference.

Age of property, type of property (mid rise, high rise, garden style, etc) amenities, location, interior features, pricing dictate class of property.

Is there a significantly different in managing the different class properties?

Yes. The higher the class the property is considered typically more funding is put into the “experience”. That’s what people are paying for with those higher rates! Events, sometimes concierge, specific amenities that an older perhaps B class property wouldn’t have, etc.

This is the best link I could find to explain it without typing out a book lol

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Age I think.

A is well maintained interiors with upscale premium fixtures and finishes. On site service teams excell at resident satisfaction and responsiveness and communication.
C is worn, tired, old interiors and finishes and fixtures.
B in between

Location, level of finishes (laminate vs quartz, linoleum and base carpet vs hardwood, etc) strict screening requirements, resident services (like office dry cleaning pickup, events, online payment, etc)

Layouts, fireplaces,screened porches,storage, Level of appliances..... Mostly upkeep & Curb appeal

One difference is communication preference of the residents. Class A/B seem to prefer texting and email. Class C prefer phone calls or office drop ins. Another difference is in how rent is paid. A/B are comfortable and familiar with electronic payment. Class C residents want to pay cash or money order.

From a property manager standpoint I would say residents expectations. Class A- everything and everyone is an emergency. If you don’t respond within their idea of “reasonable” timeframe, expect for someone to make a review or calling corporate lol and there’s a lot of “I pay too much rent” to not have this or that, or why it’s an exception in that case. Whereas B or Cs clientele seem to have better patience and not so entitled. Just speaking from my experience on both sides 

Attitude

I've worked c class up to a resort. Attitude of clientele is foremost. Financial struggles of your residents are different. The C property and below are usually in bad neighborhoods with terrible owners not willing to invest on their assets. People wished they could live paycheck to paycheck. B property is a better neighborhood with real working class people trying to make it. A property has a clientele who WERE on the B property but "made it". A and A+ property you'll find a clientele who are more demanding, but also more grateful when you've gone above and beyond for them. You will find higher demands on staff both from the residents and the owners. Give me a B+ property any day!

Short and simple clientele

The price evaluation of the property’s demographics. Being realistic. A b- is typically an older build. An a property is typically a new build with all the bells and whistles.

Age sometimes. Mechanicals