Multi-family properties is a lucrative aspect of real estate, but the key to profitability is innovative and strategic thinking. Frank Roessler provides 3 ideas to help you reach your profit goals.

1. ASHCROFT CAPITAL
3 IDEAS TO MAXIMIZE
PROFITS OF YOUR
MULTI-FAMILY
PROPERTY
Frank Roessler

2. Rent is definitely the big ticket earner in terms of multi-
family property profits, but there are many other ways to get
money through the door each month. In most cases, finding
new revenue sources at a property just requires a little out
of the box thinking. The following ideas illustrate that money
is there and waiting with just a few small changes.

3. Parking is becoming increasingly difficult to find in
populated urban areas. If your property features on-
site parking, renting out spaces at a competitive rate
to tenants can generate money where there wasn’t
any before. Additionally, if you notice that there are
extra spaces in your lot or that the lot is mostly
empty during working hours, you can rent out the
spaces to local companies who need employee
parking. Any way you cut it, parking lots have great
potential as an additional source of revenue.
PARKING LOTS
F R A N K R O E S S L E R

4. Does your property have a pool, a fitness center, or a clubhouse? If
you notice that these amenities aren’t being used by tenants, you can
still utilize these features to earn some extra cash. Freelance yoga
instructors and personal trainers are always looking for new clients
and spaces to conduct their sessions. Renting out these facilities
benefits almost everyone involved. You collect another rent, the
instructors earn money from tenants, and tenants have a great
amenity. If you find this a successful venture, you can also raise the
rent to reflect the new offerings.
PROPERTY AMENITIES
F R A N K R O E S S L E R

5. Many property owners do not allow
tenants to have pets. While the
skepticism is understandable, allowing
tenants to have a cat or a dog can make a
big difference in your revenue. Not only
will you be able to collect a pet deposit,
but you can also charge a fee each month
per animal. You may be thinking, “But
what about the damage?” Some studies
have been conducted showing the
damage caused by pets is comparable to
damage caused by the tenants
themselves. In that case, both the
security deposit and the pet deposit are
more than enough for repairs.
PET FEE

6. Often times, the key to finding new revenue sources
at multi-family properties relies in the ability to look
around and see what could be improved upon. Think
innovatively and creatively and, more often than not,
you’ll be able to find money in many new places.

7. THANK
YOU!