The building classifications are as follow and may vary from market to market.
- Generally, garden product built within the last 10 years
- High-rise product in select Central Business District may be over 20 years old
- Commands rents within the range of Class “A” rents in the submarket
- Well merchandised with landscaping, attractive rental office and/or club building
- High-end exterior and interior amenities as dictated by other Class “A” products in the market
- High quality construction with highest quality materials
- Generally, product built within the last 20 years
- Exterior and interior amenity package is dated and less than what is offered by properties in the high end of the market
- Good quality construction with little deferred maintenance
- Commands rents within the range of Class “B” rents in the submarket
- Generally, product built within the last 30 years
- Limited, dated exterior and interior amenity package
- Improvements show some age and deferred maintenance
- Commands rents below Class “B” rents in submarket
- Majority of appliances are “original”
- Generally, product over 30 years old, worn properties, operationally more transient, situated in fringe or mediocre locations
- Shorter remaining economic lives for the system components
- No amenity package offered
- Marginal construction quality and condition
- Lower side of the market unit rent range, coupled with intensive use of the property (turnover and density of use) combine to constrain budget for operations
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