A Powerful Sales Amenity
The Bradyl Box is a versatile storage solution, unique apartment amenity, and profitable investment for multifamily property owners. Here are a few ways that the Bradyl Box can enhance your property.
New Revenue from Unused Spaces
It’s time to understand what it is your residents really want from their experience living in your rental property. Bradyl works closely with driven property owners in search of ways to level-up the lifestyle and amenities for multi-family residences.
The Bradyl Box offers an opportunity to add valuable storage without taking away from the space tenants currently have. Configured to fit your existing parking spaces, the Bradyl Box allows living in an apartment or condo to be more flexible. With the ability to hold up to 900 pounds and providing over 80 cubic feet of storage space, it’s the extra garage every tenant wishes they had.
Self-storage has become a $38 billion industry. Driven in large part by limited options in apartment and condo units, storage offers an amazing revenue-generating option for multifamily facilities. Tenants may be downsizing, transitioning to a new city, or desire to safely and securely store mementos, seasonal items, or other valuables outside their living quarters.
Off-site storage fees are predominantly $101-$150 a month. According to an independent survey, there are 48,500 storage units in the U.S. That’s more than the country Starbuck and McDonald’s combined. 27% of those units belong to renters that live in a multi-family apartment complex and many would be willing to move their belongings onsite if Bradyl Bins were offered.
Most multi-family facilities have empty space just waiting to start generating revenue. Bradyl Bins can generate revenue of up to $5 per square foot, offering an abundant and fresh opportunity to transform unused space into increased profit. Our independent survey highlights that residents will pay an additional $5-$30 more per unit for Bradyl Bins compared to the other less private options.
On-Site Storage is in High Demand
A Bradyl consumer survey ranks on-site storage as the 4th most important amenity (only behind a fitness center, pool, and high-end appliances) and surpasses covered parking as a priority.
Apartment tenants’ length of stay at a property can vary greatly, from a minimum stay of one year to a long-term residency of over ten years. With the exception of job or relationship changes, amenities are usually what makes the difference between a long-lasting resident and someone who just stays for the year and then moves on. The cost of rent is no longer the end-all-be-all. Residents are on the search for convenience, variety, options, and value all in the form of affordable amenities.
ApartmentGuide has surveyed thousands of the most successful multi-family apartment complexes in search of the ideal apartment amenities to better understand what attracts new tenants and keeps them happy.
Multifamily residents are desperate for privacy, security, and an efficient way to store their belongings. Bradyl Storage Solutions quickly picked up on a need that had been ignored by others to offer affordable and flexible ways to provide one of the best amenities that can be offered.
Space is never an issue for Bradyl. Bradyl Bin storage unit sizes are customizable and there are even Bradyl Boxes- freestanding, secure, economical storage lockers that provide easily-accessible storage above the hood of your residents’ cars.
Changing your pet policy, building a pool, or adding a gym may not be something you can bring your community so easily–but now, efficient private storage is.
Don’t Take Our Word For it!
Hundreds of properties have added a touch of affordable luxury with the installation of the Bradyl Bins or the Bradyl Box. Here is an overview of a case study:
Multifamily owners and managers are increasingly turning to ancillary revenue opportunities to increase the value of their properties. Residents’ need for storage space often outstrips closet space available. The Odyssey sought to add storage spaces for its residents as the lockers in the storage room were sold out. There were no obvious available spaces to add storage on the property.
The Bradyl Solution:
Bradyl completes an on-site assessment and makes recommendations to better utilize untapped space in the building to create enclosed storage units. In spite of significant space limitations, Bradyl was able to carve out space for 15 Bradyl Bins in the underground garage. Ancillary revenue earned from fees charged to residents adds significantly to the NOI of the property.
Bradyl’s storage solutions improve revenue and ROI, while better meeting the needs of the residents. And, at an average CAP rate of 5%, adding just $20,000 in ancillary revenue from 15 Bradyl Bins increases the asset’s worth by $400,000.