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Home Insider Blogs Brent Williams's Blog Outrageous Apartment Rent and Ancillary Income Sources
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Aug 26
2008

Outrageous Apartment Rent and Ancillary Income Sources

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Posted by: Brent Williams

Tagged in: Ancillary Income

Rick Ellis posted this list on a newsgroup I am a part of, and he let me repost it here. Some are obviously a bit more realistic than others, but it should get the creative juices flowing, regardless!

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We have been brainstorming some of the more outrageous rent and ancillary
income sources for our apartment communities. Here are some of our ideas
and yes, they are a bit out of the box. Admittedly, some are even
ridiculous! May I hear your sane and insane ideas for getting any
additional revenue for your apartment communities? Go ahead...the sky is
the limit!

Check some of these revenue generating ideas and share some of yours:
* Bidding for the "best" and closest parking spaces ­ one year commitment
and then the bidding process is offered again
* Commercial naming rights for your apartment community - "The AT&T Market
Square Apartment Center"
* Automated after hour lost key retrieval Stations- paid by credit card
* Elevator advertising by video screen or poster
* Billboards on apartment buildings or rooftops
* Bed and Breakfast facility incorporated into the apartment community
* Extended stay executive suites (specifically designed for business
travelers) incorporated in a section of the community
* Roof top rights sold to local electricity providers for solar panels
* Lease out secure wine cellar spaces for Residents' vintage wine
collections
* Lease for an additional fee "Smoking Apartments" with special high tech
ventilation equipment that will not interfere or concern other residents.
* Renting out your clubroom facilities on weekends to religious
organizations (This may not be a good idea but if done properly, it is not
a fair housing issue)
* Offer apartments that include a "safe room".
* Build floorplans with a REAL office...one room built out like a high end
commercial office with all the furnishings.
* Add a heliport on a building top or other empty space with landing fees


Comments (1)Add Comment
0
written by Naomi, July 06, 2010
You forgot to mention how to do all this, which is important smilies/smiley.gif For example, you mention "Roof top rights sold to local electricity providers for solar panels." Typically, the way this is done is either via flat $/sq foot rates, Power Purchase Agreements, or profit sharing arrangements. Usually it depends on the zip code your building is in to say who is looking for your rooftop space and what they are able to offer you for the use of your rooftop space (legislation varies considerably with what returns and business models energy producing companies work with within zipcodes).

Building Managers and Owners can list their rooftops as sites for solar energy, wind energy, or urban farming on www.seglet.com. (Segment Subletting)

Detailed information needs to be entered, but this helps the energy and food providers determine if your roof is a good site for their projects.
Oh, and it's free to list the rooftops...

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