What are apartment building classifications Classes A, B, C, D

Class A

• 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

Class B

• 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

Class C

• 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”

Class D

• 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