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Topic: I'm looking for creative ideas on how to gain ancillary income.

Topic Author

Crystal Garland Hollinger

I'm looking for creative ideas on how to gain ancillary income at a community with very few amenities. What are some ways you've earned other income?

Posted 5 years 6 months ago

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Topic Author

Grace Howard

Transfer fees. Parking. If all units don’t have balconies, that can be an up-charge.

Posted 5 years 6 months ago

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Shannon Danielle

Vending machines, telecommunications income, value ads in the apartments (upgrades)

Posted 5 years 6 months ago

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Anonymous

We have a parking garage (they're a little more rare). But we charge non-residents additionally for the use of it monthly. Like the businesses in the area. I'm trying to talk my boss into allowing an upcharge for MTM garage rental.

Posted 5 years 6 months ago

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Anonymous

I would hold people to replacement costs. If the lease or addendum says it's $25 per key to be replaced, or not returned at move out, stand by it! It'll keep some people from even bothering you about it, they'll just go have a copy made.

Posted 5 years 6 months ago

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Kimberly Nowlin Doty

Common area maint fee. We charge at move in and renewal. Service connection fee for setting them up for water. Service of notice fee (for posting 3 day to their door)

Posted 5 years 6 months ago

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Topic Author

Anne Clark-Alder

Location example overlooking dumpster would be less than an apartment overlooking open ground, a courtyard, pool etc.

Posted 5 years 6 months ago

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Julie Curtis

Clubhouse rental, guest suite rental, charge for gate devices at move in instead of just for replacement, move-in/move-out concierge services, valet trash, stuff like that

Posted 5 years 6 months ago

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Topic Author

Anonymous

Julie Curtis charging at move in for those devices is more of a deposit for their return. We are looking into doing that as well

Posted 5 years 6 months ago

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Topic Author

Julie Curtis

we just charge $100 per device at move in as a fee. We pay roughly $30 for the actual device and most people still turn them back in (surprisingly.) I was skeptical when we rolled it out too lol

Posted 5 years 6 months ago

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Paige Strohson

Smart IoT - the STRATIS app controls locks and thermostats, lights, coffee maker, etc. Who wouldn’t want to start your coffee while still in bed. ☕️ Some properties make $15/unit a month.

Posted 5 years 6 months ago

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Scott Snyder

Consider requiring renters insurance. You will earn ancillary revenue through the marketing fee paid to the property and because it is required, you could charge a lease violation fee when you are alerted to residents who are out of compliance (cancelled their policy while still a tenant). Oh, and the property will be better protected in event of a loss / issue.

Posted 5 years 6 months ago

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Anonymous

We require renters insurance, I'm the person that calls people when their renters insurance has either been cancelled, or if their policy date has ended and we didn't receive their updated insurance. There is a lot of push back that I get when I make those calls, but when we collect those fees, it makes it all worth it.

Posted 5 years 6 months ago

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Topic Author

Melissa Ann Hickson

$50 per bag of trash left outside of front door, $50 for each pet violation where the resident doesn’t pick up after their pet, $50 for each grill as we don’t allow them, $50 for anything that is not approved on patios or balconies...on and on... BANK! And my communities are CLEAN!

Posted 5 years 6 months ago

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Tara Samuels

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I work for Assurant and we offer an easy way to earn ancillary income simply by keeping our renter's insurance brochures in your leasing office and handing them out when an incoming resident is looking for a resource, other than their car insurance provider.

Posted 5 years 5 months ago

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Topic Author

Penny King

I'm curious about the Guest Suite Rental. Do you charge a nightly fee for this? We have corporate suites but offering it on a nightly rental will put you in the hotel/motel tax bracket. How do you get around that?

Posted 5 years 5 months ago

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I'm looking for creative ideas on how to gain ancillary income.