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Living in a high-end gated community sure has its perks. This is besides the sophisticated living standards that give you a certain special value for your money. When your luxury apartment complex is especially endowed with state-of-the-art trends and amenities on par with global standards of living, there’s much more you can derive from your living environment along with a lifetime of sheer comfort and satisfaction. Think about lucrative returns on your investment and you have a plethora of options before you.
So then, are you looking at generating additional income from your apartment complex? Apart from the regular maintenance charges and capital funds collected from the residents by the apartment owners’ association? If your answer is a resounding ‘Yes!’ there are innovative ways of doing it without any additional investment or management.
Read on to find simple ways to do this.
Capitalize on the clubhouses
Clubhouses are not just luxury assets. When used wisely, you can generate the additional income which you are looking for. The free time slots of the clubhouse can be rented out to non-resident parties for hosting weddings, parties, events, concerts, etc at a higher tariff. The poolside is a great venue to let out for barbeque nights or swimming contests with sports companies.
All of the luxury apartments crafted to perfection by HM Constructions https://www.hmconstructions.com/ have aesthetically designed clubhouses for recreational pleasure. Whether it’s HM Tropical Tree https://hmconstructions.com/index.php/projects/details/hm-tropical-tree at RT Nagar, HM Grandeur https://www.hmconstructions.com/projects/details/hm-grandeur at Fraser Town, HM Concord at HM Symphony on Sarjapur Road, or HM Indigo http://hmindigo.co.in/ on Kanakapura Road boast of elegant clubhouses with scientifically planned swimming pools that are just perfect for hosting lively events.
Monetize the conference halls
Now that employees are getting back to work from their office, companies are beginning to host offsite ‘welcome parties’ for their workforce. It’s a great idea to rent out the conference halls to corporates at attractive hourly or daily rates.
It’s not surprising to know that all the luxurious apartment complexes HM Constructions https://www.hmconstructions.com/ have classically created and are appointed with distinguished conference halls that are impeccably planned for boardroom meetings and business conventions. So, if you are a proud homeowner at HM Tropical Tree https://hmconstructions.com/index.php/projects/details/hm-tropical-tree at RT Nagar, HM Grandeur https://www.hmconstructions.com/projects/details/hm-grandeur at Fraser Town, HM Concord at HM Symphony on Sarjapur Road, or HM Indigo http://hmindigo.co.in/ on Kanakapura Road, you are assured of handsome returns from your business connections.
Rent out spaces for business promotions
This is one of the best sources to generate income for your association. A lot of brands put up stalls inside gated communities to promote their products. The management of the society can charge them a fee for this depending on the size of the stall or the popularity of the brand. This way the apartment association earns and the residents will also benefit from the stalls which are put up. Another way is renting out spaces within the community for advertisements, billboards, kiosks, exhibitions, etc. If you have that extra space, rent it out for an ATM since banks pay a handsome fee for this arrangement.
Subscription model for amenities
The maintenance costs of the gyms and pools are very high, so why not the users pay for them separately? Create an exciting subscription scheme for the use of the gym and the pool for non-residents. This way the management can save a major chunk of the maintenance funds and earn some finance on the side by letting out the gym and swimming pool.
Invest the funds to generate income
Each resident of the gated community contributes a certain monthly or annual amount towards the maintenance of the complex, payment of salaries for housekeeping staff, the concierge service, etc. This goes into the society or apartment owners’ association account. Investing these society funds in tax-saving schemes and fixed deposits is an easy way to get some revenue from the funds instead of letting them lie idle in the kitty.
Kitchen compost earns well
Several apartment complexes in the city have been grabbing the headlines and making a cool pile from selling compost to the BBMP and to private nurseries.
It’s a great idea to set up a composting unit within the gated community where the facilities management can collect the wet waste from kitchens and make enriching compost for sale.
By following the above, you are doing your bit towards sustainability too. These initiatives help you save a lot of money and help in generating income in the long run.
As a proud homeowner at any of the luxury gated enclaves by HM Constructions https://www.hmconstructions.com/ you can be certain that along with the promise of a lifetime of comfortable living, you can look forward to earning great returns on your valuable investment in the long-term.
Call us on 888 022 5555 to know more.