Have you ever had a product or service pitched to you where you thought, “It’s too good to be true?”
- An electric car that’s great for the environment and can go from 0 to 60 in 2.07 seconds.
- A baby bed that rocks and “shushes” your baby to sleep.
- A trash service that picks up your trash for you every night.
That’s Valet Trash Service. Bear with me while I show you how you can increase the value of your property, add a recurring revenue stream, AND attract more residents.
What is Valet Trash?
Before showing you the benefits of Valet Trash, we need to define it clearly.
Valet Trash is a new amenity that apartments all around the country now possess. It’s the fastest-growing amenity in the U.S.
Properties that offer this convenient amenity are provided with trash containers by their valet trash vendor. Each resident receives these containers and instructions to leave their trash outside their door before a specific time (typically after-hours, 7 PM).
After that time, a porter (fancy name for “trash collector”) collects the trash from every door and delivers it to the community dumpster. That saves the resident from a long, dark walk and keeps the property clean.
Valet Trash Attracts More Residents
In today’s world, where convenience is in high demand, adding a valet trash service to your property will instantly increase the value of your property. Most residents don’t even notice the small additional fee for the added convenience.
Imagine a working family living in an apartment. The couple coming home from work still have quite a bit of work to do before they can wind down:
- Walk the dog.
- Exercise for the day.
- Feed the pets.
- Get dinner ready.
- Help the kids with their homework.
The last thing a resident wants to see is an overflowing trash can – especially if their unit is up a flight of stairs or far from the community dumpster.
With Valet Trash, they can tie up the bag and place the container outside for collection. Easy-peasy.
Additional Stream of Instant, Recurring Revenue
When you add valet trash to your property, you’re immediately adding a stream of ancillary income.
Valet trash vendors charge the property a monthly fee per door. The property charges each resident a monthly fee to enjoy this amenity. The difference in those prices is up to the property owner.
Let’s say, for example, your property has 300 units. Your valet trash vendor is charging you the national average of $17.00 per unit per month. You decide to charge each resident a monthly “valet trash” fee of $25.00. Your total monthly earnings from valet trash will be $2,400.
➔ $25.00 – $17.00 = $8.00
➔ $8.00 x 300 units = $2,400.00
➔ $2,400 x 12 months = $28,800.00 annually
That’s an extra $28,800 annually. How many other “amenities” add this kind of income to your property?
Valet Trash vs. Other Amenities
Residents love amenities. Having a variety of amenities can be a major attraction for potential renters. However, most amenities need a considerable initial investment or need constant maintenance.
- Pools are expensive to put in, and you need to hire a pool company to maintain them.
- Fitness centers take up a ton of space and need constant cleaning.
- Self-service package centers get mail shuffled and lost.
- Community vegetable gardens cause community fights.
While other amenities are still vital for properties, they don’t provide the same value that valet trash offers.
Cleaner, Greener Property
One of a leasing officer’s worst nightmares is touring a potential resident around a dirty property.
Properties with incredible pools, views, soundproof walls, and top-of-the-line appliances can lose value if trash blows around the community. Some residents even store piles of trash bags on their porches until they work up the energy to walk it all to the dumpster.
Having a valet trash vendor mitigates the risk of your potential tenants deciding to move into a competitor’s complex, where it’s cleaner.
Additionally, most valet trash companies offer recycling services as well. That may be a higher “per door” rate but can help your apartment do its part in preserving our environment. It also gives residents an easy way to start a recycling habit.
It’s not too good to be true! Join the thousands of properties that add a convenient, green amenity to their property.