Amenity pricing can be one of the tougher things to get right—but also one of the most lucrative. So here’s the shortest blog I’m likely to ever write.
Do you put an amenity charge on south facing units? Why south facing (many of you may already have figured it out)? Because you have to have a south facing view if you want a satellite TV subscription. As a displaced Marylander who desperately wants to watch his Washington Capitals on DirecTV’s NHL Center Ice package (even this year, when they’re not playing too well), I can personally attest to the willingness to pay a segment of the market has.
A simple $10 a month amenity fee is easy to collect on south facing units—that’s an extra $120 a year. Over 50-100 units, that’s $6-12K of easy NOI.