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How does a bathroom attendant apply to parking, parking management and the hurdles facing multifamily operators? What seems like a silly example clearly indicates the fundamental issue with choice. Simply put, it comes down to fees for service and determining if it is nice to have or a…
To legally operate a taxi in New York, you need a medallion. A decade ago, the cost of a medallion for a single cab was about $1M. They were an investment in a cabbie's future and retirement. Today, you can buy one for less than $200K. The decline…
As amenity fees gain scrutiny, renters increasingly seek choice in how they pay for services. Multifamily communities should allow residents to select amenities that suit their lifestyles. Technology can enhance personalization and streamline operations, enabling residents to lease spaces like parking and storage through user-friendly apps.
Parking has long been a pain point in multifamily housing, often leading to resident frustration and operational headaches. Some property operators are rethinking traditional parking approaches to improve both resident satisfaction and efficiency. By shifting to data-driven solutions, properties can reduce congestion and open new revenue streams.
Unauthorized vehicle and resident complaints can erode trust rapidly. When residents see others flouting parking rules, their frustration builds, not just towards the offenders but also towards the onsite team. Maintaining consistent parking enforcement is not just about being punitive; it's about resident happiness.
As a property manager or multifamily owner, you're always looking for ways to boost your bottom line. Do you really know how many rentable items you have on your property? Sure, you've got your units nailed down. But what about those other revenue opportunities scattered across your property?
In the realm of property management, rentable amenities present an often-overlooked revenue opportunity. It's not that residents don't want to use these spaces, it's often a matter of not knowing how. These items can generate new income streams while enhancing the resident experience.
Parking problems can be a significant source of stress and sometimes conflict. In many instances, there's little that can be done to change the situation from an infrastructure standpoint. Many communities have what they have for spaces and the system functions at the whims of resident demand.