Building more space for residence is a bigger problem than most owners realize, especially tenants who expect a one-of-a-kind living experience with resort-style facilities. In this episode, Jim Monk discusses changing the way owners and investors look at the closet, resulting in an immediate rent increase. 

Key Takeaways To Listen For

• Finding a unique business idea
• Importance of renovating closet to increase the market value
• Targeting the right market
• Focusing on large-scale markets
• Financing program and its exit strategies
• Utilizing omnichannel strategy  
• Unwrapping more opportunities 
• Learning from the experts

Resources Mentioned In This Episode
Katerra

About Jim Monk

Jim Monk is the President of CLOZZITS. CLOZZITS has developed a program to increase rents by 3%-5% while improving the Net Operating Income (NOI) and Asset Value. All without multifamily owners laying out much capital. His goal is to differentiate beyond the normal amenities and tap into a new area of construction development, renovations, and property management.

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