A what-score? Properties are now getting graded on how walkable they are. Walkability, just like it sounds, it grades how walkable your property is to amenities and other services. You may be thinking, “What’s the big deal?” Well, walkability is a big deal – properties are starting to increase in value based on how walkable it is. Walkscore.com gives your property a grade on a scale 1 to 100, with higher scores being more walkable.
How it’s calculated.
Walk Score’s methodology includes a fancy algorithm that crunches numbers and a bunch of other factors in to determine your property’s score. It uses other online mapping resources like Google and Open Street Map for data. Your property gets more points for being closer to more amenities.
Walkability is a selling point.
According to a study conducted by Walk Score and ZipRealty, one walk score point can add up to $3,000 more value to your property. This means, if your property is walking distance to the grocery store, gym and Laundromat, it will be worth more.
How to sell it.
Walkable properties are increasingly valuable. Recognize when you have a walkable apartment and sell its walkability. Emphasize it. Include all the places tenants can conveniently walk to from your unit. Learn some of the key benefits of walkablility to help market your property:
Walkers are healthier and happier.
You’d be hard-pressed to find a renter who does not want to be healthy and happy. We all want to satisfy these basic needs. According to the American Academy of Podiatric Sports Medicine, not only does walking improve the overall feeling of well-being, but it helps relieve depression, anxiety and stress.
Less gas.
Driving a car around is getting more and more expensive because of the rising cost of gas. Being able to walk to the store, work or coffee shop are now desirable conveniences because you don’t have to turn on the ignition. Less gas means more money in the bank.For more tips on boosting your online rental description, read about how to be most knowledgable about your rental property.
