Determining building classifications is more of an art than a science. There is no formal or international standard. Building classifications change from city to city. Here’s how Reno defines its classes:
Class A buildings are built to impress. These buildings are found in highly desirable areas, constructed with high-quality building materials, and require little if any, deferred maintenance. They typically command the highest rates in the market. Usually, the easiest way to determine a Class A building is by the exterior appearance.
Class B buildings are less impressive than Class A buildings. They are well-maintained and fully functional structures with adequate mechanical, security, and electrical systems. Class B buildings generate average rental rates.
Class C buildings are typically older, outdated, and suffer from deferred maintenance. This is the lowest classification on the spectrum, and these buildings are generally in less desirable locations. They usually need extensive repairs, are structurally obsolete and lack proper technology. Class C buildings get the lowest rental rates and may be more challenging to lease.
Whether you are interested in Class A, B, or C building, Evan Meyer can help. Reach out today!
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