Becoming Management: Tips For Growing Business Owners

« Back to Home

Fixing Up An Apartment Building? Things To Add To Attract Renters And Make Money

Posted on

If you are fixing up some apartments or a multiple unit housing property, there are some things you can put into the facility to help make life easier for your tenants and to help make some money at the same time. Offering a property that has laundry, a gym, and tanning on site is a great way to attract people to the property. You want to get the following things for your property.

Coin-Operated Laundry

You will have to pay money over time to service the washer and dryer that you provide, along with pay for the additional water that is being used. When you get units that are operated by coins, so that your tenants have to put in money to use the appliances, you will get the money needed to maintain or replace the units, and you may get some additional money to put in your pocket as well.

Look at the sets and options available that will fit into your space by contacting companies like Metropolitan Laundry Machinery Sales Inc. People will specifically search for apartments that have laundry on site, so be sure to include this feature in your marketing.

Vending Machine

Put a vending machine in the area where the washing machine, gym equipment, and tanning unit are. You can put these things into the vending machine to make money:

  • Laundry detergent, fabric softener, stain sticks or dryer sheets
  • Tanning lotion
  • Power or protein bars
  • Sports drinks and water
  • Snacks and candy

These are some of the items that people will want to use or that they may not have while they are going to wash clothes, tan, or do laundry.

Membership for Tanning

If you have members that want to tan at your stand-up unit or bed, then you want to charge them a set amount a month. This can be added to their rent, or they can pay it separately. Either give them a special key to the room, or put a special combination on the door. Let the tenants know there are cameras, so you will see who goes in and out.

If you are redoing an old apartment building and you want to attract a young professional crowd, but you want to invest in things that can help you get a return on your money, these are some of the things you want to look into. These items will attract renters and can pay for themselves over time.