How to Maximize Revenue at Your Commercial Office Properties
Commercial office properties can be immensely profitable for quality landlords that maintain their investments appropriately. Loyal renters can make it easy to stay profitable as no empty spaces will help maximize revenue. This is a fixed revenue though and there are other things that can be done to increase this revenue. Certain small tactics can be used to earn revenue on a daily basis. The following are tips to maximize revenue when renting out office space.
Vending Machines
There are plenty of vending companies that are willing to help out commercial office spaces. The top companies are going to offer vending services that vary immensely. Vending machines can even include healthy items or an entire machine of healthy items. The one aspect to keep in mind is the tastes of employees and staff. Look into vending services that can help generate new income from offering a variety of incredible perks to renters.
A Deli in the Building
A deli in the building is going to be able to generate immense amounts on a daily basis. There could be wraps and sandwiches that are offered with basic cold cuts. Investing in a sandwich press alone with something to keep soup hot can work wonders. There are employees that might have a short lunch break on a particular day but didn’t have time to pack a lunch. This will happen more often than you think and the margins on things like energy drinks can be immense. Offer quality food as you do not want the deli in the office park to get a reputation for low-quality food. Larger office parks could even rent this space out to a restaurant with some sort of profit sharing program.
Priority Parking Can be a Part of Rent
Most people do not want to brave the elements when going into the office. Parking spaces close to elevators in garages or near a door in the parking lot can come at a premium price. The CEO of a company doesn’t want to show up to work covered in sweat or rain when they have an important meeting. Management at companies can have huge egos so giving parking spaces with names on them can help drive up rent. This will likely be a status symbol for those renting out the commercial spaces but can generate more revenue annually.
Office Gym Memberships
There could be a gym in the office park that you own that you can sell memberships to. Plenty of companies will include this in their monthly rent as employers are always looking for perks for employees. The gym will require some kind of waiver though as not having this signed can lead to a lawsuit. The gym does not need to be monitored by an employee if there is keycard access. Companies will love that their staff and management can exercise on site. Being able to get to the office early and work out can make employee more productive which management at businesses understand.
Above are just a few of the many tactics that can be used to maximize revenue for your commercial properties. Take the time to list out other ideas to see how feasible they would be to put into action.
