From parking to patios, storage to poolside seating, space is finite at multifamily properties.
Because square footage is directly linked to revenue at apartment communities, it is critical to leverage each inch of real estate and maximize the return on investment (ROI). Every apartment community has unique spaces throughout its design that are ripe with revenue potential. Often, those spaces were designed with a specific purpose in mind but have long since ceased to deliver value to residents or ROI to operators.
Some of the most common culprits in multifamily are package rooms and package locker facilities. In recent years, and particularly since the start of the pandemic, property managers have witnessed the shortcomings of those package solutions. E-commerce trends have created package volume levels that have outpaced the capabilities of package rooms and lockers, forcing operators to find additional space for package storage.