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Brent Williams' Apartment Blog

Thoughts, comments, and ideas about the overall multifamily industry, as well as a property-specific focus on resident retention and apartment marketing.

Outrageous Apartment Rent and Ancillary Income Sources

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

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