Apartment Storage Solutions for 2020
In response to the growing resident demand for better onsite storage at multifamily properties, we recognized 10 years ago that apartment storage solutions had to go beyond wire cages assembled in basements. From our popular Bradyl Bins to our Bradyl Box parking space storage unit– Bradyl excels at addressing this demand while increasing resident satisfaction and property value. For the past decade, Bradyl has led the trend in multifamily storage to raise the standard of onsite storage beyond tenant lockers.
In 2019 Residents want:
- Modern storage units that aren’t an eyesore
- Privacy for their personal items
- An affordable monthly fee for individual units
- Well-built and easy to maintain
- Intelligently designed storage units
Modern storage solutions extend to property owners as well as tenants. Some of these benefits include:
- An attractive and unique amenity that tenants not only want but will use
- A business opportunity that helps multifamily properties raise their bottom line in 2019
- A profitable solution to wasted space within a multi-family property
- A cost-effective revenue-generating innovation that will enhance the overall appearance of the property
- An on-site storage solution that doesn’t lose its value
Multifamily residents are desperate for, and expect, a private, secure, and efficient way to store their belongings. Has your property kept up with resident expectations in 2019? Or are you still providing an amenity from 2009?
How the Bradyl Solution Differs
Though we’ve helped hundreds of multifamily property owners and managers address their need for resident storage, we remain surprised at the number of residents who seek additional storage space at their property and go unheard by management. This often results in properties losing leases to competitors who have stayed up to date on their tenant’s most desired amenities.
In 2019 the value of onsite storage is apparent, but for those who are hesitant on the investment (one that pays for itself in record time!) here are a few case studies that highlight how putting your tenant storage needs first can result in improved resident satisfaction and a new or improved revenue stream for your property.
For the Bradyl team, this unused space is pure gold. Besides being in demand, Bradyl storage offers
- A unique amenity giving the property a competitive edge
- Modern design options keeping you ahead of the trend
- Units that are portable and easy to maintain
- Allows your tenants to finally keep their valued belongings close to home
- With the fees charge for tenants to rent unit monthly, Bradyl Storage pays for itself (and then some!)
Are you offering your tenants the Bradyl solution?
The value of onsite storage is apparent, but for those who are hesitant on the investment here are a few case studies that highlight how putting your tenant storage needs first can result in improved resident satisfaction and a new and improved revenue stream for your property.
Case Studies
The Odyssey, Arlington, VA
Goals and Roadblocks:
- Increase revenue opportunities
- Address resident locker capacity, demand had increased
- Residents often mentioned limited closet space
- There were no obvious available spaces to add storage on the property
Bradyl Solution:
- Asses and optimize untapped space
- Customize 15 enclosed storage units in the underground garage
- Ancillary revenue earned from fees charged to residents
- Significant improvement made to the property’s net operating income
Outcome:
- Improve revenue and ROI
- Residents needs met
- At an average CAP rate of 5%, adding $20,000 in ancillary revenue from 15 Bradyl Bins increasing the asset’s worth by $400,000
Sedona|Slate Arlington, VA
Goals and Roadblocks:
- Utilize space that was intended for retail use to create on-site storage for residents
- Awkwardly shaped space
- Owners desired a more attractive option than wire mesh partitions
Bradyl Solution:
- Confirmed with property’s ADA consultant that the storage unit layout/ design incorporated all desired ADA accessibility features
- Customize and install twenty-five new storage units of various sizes in the allocated space
- The property manager pre-advertised the incoming apartment storage units and generated a waiting list for their completion
Outcome:
- All storage units were rented out immediately following completion of the installation
- A valuable amenity was offered to residents
- The property is renting the storage units for up to $4.73 per square foot
“Lindsay and her team did a great job for us at a large multi-family project we own in Northern Virginia. Her team was very effective in designing and implementing a strategy for previously unutilized space, which led to immediate increases in income.
We enjoyed working with her on this project and would recommend her services to anyone looking to add new sources of storage income across their portfolio”.
The Evergreens at Laurel Laurel, MD
Goals and Roadblocks:
- An excess of two-bedroom apartment vacancies
- Property management identified limited closet space as undesirable to prospective residents
- How to make apartments with limited storage space more attractive to prospective residents
Bradyl Solution:
- Build custom storage units specifically intended for use by residents of the 91 two-bedroom apartments
Outcome:
- Improved occupancy rate of two-bedroom apartments
- More attractive storage options
- Stand out amenity that improved competition in their local market
This is what the property owner had to say about collaborating with the Bradyl team:
“Bradyl was very understanding of our needs to provide our residents with quality storage lockers. Their product was custom-tailored to fit the space available. The installation and product are top-notch.”
– Bob Turner
Senior Manager at Allen & Rocks, Inc
Conclusion
These are just a few highlights out of dozens of highly-detailed Bradyl Storage Solution case studies.
Are we showing off? Maybe a little. But the reason we are sharing these case studies is more about you, your property, and your residents.
Are you behind the times when it comes to addressing your tenant’s onsite storage needs but don’t know where to start? Check out our other case studies where we showcase some of our recent projects.
Do you see your property in a similar bind as some of our loyal clients? Contact us today for a complimentary assessment and discover for yourself the benefits of adding modern storage solutions to your property.