5 Proven Value-Add Strategies to Increase Rent and Attract Tenants in Multifamily Real Estate

When I first transitioned from running crews in the trades to managing multifamily investments, one thing stood out immediately: not all properties are created equal.

Some buildings cash flow, but they’re underperforming. Others have potential locked inside poor management, outdated units, or neglected common areas. The real opportunity in multifamily isn’t just owning the property — it’s knowing how to add value.

That’s what separates average returns from exceptional ones.

Here are five proven value-add strategies we use at DelftRise to attract tenants, increase rents, and boost overall returns.

1. Upgrade the Right Amenities

Amenities are often the first impression tenants have of a building. Small changes can dramatically impact the perceived value of the property.

This doesn’t always mean adding a pool or gym (those don’t make sense in every market). Sometimes, it’s as simple as:

• Refreshing landscaping and common areas

• Updating lobbies and hallways with modern finishes

• Adding practical spaces like secure package lockers or bike storage

Before we invest in upgrades, we run a cost-benefit analysis. The goal isn’t to spend money for the sake of it — it’s to make targeted improvements that justify higher rents and reduce vacancies.

2. Renovate Units for Modern Living

Outdated units are one of the easiest ways to drag down rental income. Kitchens, bathrooms, and flooring are the big three. Even mid-level renovations — new appliances, countertops, lighting, and fresh paint — can shift a unit from “dated” to “desirable.”

At DelftRise, we stage renovations strategically: completing them in phases, upgrading select units first, then leasing them at higher rents. This not only increases income but also creates momentum in tenant demand across the building.

3. Add Smart Home Features

Tenants want convenience. By incorporating smart thermostats, locks, and lighting, you make your building stand out — especially to younger renters.

Smart upgrades can also reduce operating costs over time, improving efficiency for both tenants and management. And here’s the best part: the cost of adding smart features is relatively low compared to the premium you can charge in rent.

4. Maximize Living and Community Space

Not every value-add comes inside the unit. Common spaces can make or break a property’s appeal.

Where structural changes make sense, things like balconies, terraces, or communal lounges can boost rents significantly. But even lower-cost improvements — outdoor seating areas, playgrounds, or BBQ zones — build community and create higher tenant retention.

The principle is simple: the longer tenants stay, the lower your turnover costs, and the higher your net income.

5. Enhance Safety and Security

Nothing matters more to tenants than feeling safe where they live. Improving security is one of the most cost-effective value-add strategies.

This could mean:

• Surveillance systems

• Upgraded lighting

• Keyless entry or controlled access systems

• Well-maintained exterior areas

For investors, the benefit is twofold: you attract higher-quality tenants and justify stronger rental rates.

Why Value-Add Works

In multifamily, value-add isn’t just about nicer buildings. It’s about boosting net operating income (NOI). And because commercial properties are valued based on income, every $1 increase in NOI can translate into a significant increase in property value.

That’s why this strategy is so powerful: you’re not waiting for the market to appreciate your building — you’re creating that appreciation yourself.

The DelftRise Advantage

My background in construction means I’ve spent years on job sites, managing crews, budgets, and timelines. That hands-on experience gives us an edge when it comes to executing renovations and improvements that drive real results.

At DelftRise, we don’t just acquire properties — we reposition them. We look for underperforming assets with clear upside potential, then apply a disciplined value-add plan that benefits both tenants and investors.

Final Thoughts

Adding value isn’t about pouring money into a property. It’s about making smart, targeted improvements that increase income, reduce turnover, and elevate the overall asset.

That’s how we maximize returns — and it’s why value-add multifamily is at the core of what we do at DelftRise Investments.

If you’d like to learn how we identify and execute these opportunities, book a call with me here.