When you make certain improvements to your home, we want you to keep 100% of the market value added through these improvements – Landed does not share in any of that.
Note that the value of an improvement is determined when you exit the partnership. The value is determined by an independent appraiser, who reviews key documentation including photographs, permits, and so on. Note that for an improvement to be eligible for Positive Adjustment, you would need to notify Landed before the work begins.
Which improvements are NOT eligible for a Positive Adjustment?
- Foregone maintenance. This includes items that require repair, such as a leaky roof. Note that in Landed's property review process, we will highlight foregone maintenance issues that are readily apparent in the available reports/disclosures to make sure you have the best information possible. However, it's important to note that it's possible that not all foregone maintenance is documented in these reports/disclosures.
- Work completed to maintain the condition of the home to serviceable or approximately the condition it was in when you purchased it (whichever is higher).
- Work that is not completed in accordance with local laws, such as required permits.
- Work that you do not notify Landed about ahead of time.
Which improvements are eligible for a Positive Adjustment?
- Work that you notify Landed about ahead of time, that is not explicitly listed of Not Eligible for Positive Adjustment.
- Eligible improvements that are more likely to add market value to the home:
- Work that adds square footage (such as adding a bathroom to the back of the home, or ADU) or habitable area (such as converting a basement to a living space with appropriate government permits)
- Eligible improvements that are unlikely to add market value to the home: Work that does not add square footage or habitable area to the home (such as replacing carpet with wood floors).