Revenue drivers: Make the most of your clubhouse

Make the most of your multifamily clubhouse

If your apartment community has a clubhouse, you already know that it can be an excellent source of ancillary income. From anniversary celebrations to family gatherings, football parties to birthday parties, maximizing exposure for your clubhouse—both inside and outside your community—can help boost your bottom line and expose your community to potential renters. But first, make sure that your clubhouse is ready for action.

Decide on pricing

Your clubhouse is an asset that you want to monetize and protect. Consider the cost of having a staff member on-site during an event. Be sure to take a look at venue rental costs in your immediate area to ensure you are competitive, and consider the possibility of a discounted rental fee for residents as opposed to outside parties.

Additionally, you may wish to also require a deposit along with your fee to cover any damages that might occur during the event. Work with your legal team to create a contract featuring your rules and a cancellation policy that both you and the person hiring the venue sign.

Create and confirm the rules

Having a set of rules laid out before an event can save a lot of grief down the road. You may want to address:

  • Acceptable event start and finish times
  • Noise
  • Alcohol use
  • Clean-up expectations
  • Damage policy

Be sure to take the time to go over all rules with your guests at the time of renting.

Communicate to your residents—and your local community

When you’ve got your pricing and policies in place, it’s time to let your residents and local community know that your clubhouse space is available for their use. Try luring in your renters with a few complimentary resident gatherings to show off your space, such as a football viewing party, a potluck dinner, or even just donuts and coffee. Send engaging messages at a good cadence to both advertise your own events and suggest potential rental ideas. Make sure your web listings also highlight that you have a clubhouse available for events.

Plant some party ideas

When one of your residents or local community members visits your clubhouse for an event, take advantage of the opportunity to boost your property’s desirability. Encourage referrals by providing community information during the event for attendees to take home. Use your email database or community newsletter to establish the potential of your clubhouse with ideas such as:

  • Football party (book early!)
  • Soccer party
  • Post-team gatherings for elementary or high school teams
  • Seasonal celebrations with family
  • Engagement parties or weddings
  • Birthday parties
  • Family reunions

Don’t forget to highlight anything special your clubhouse might have to make parties easier, such as an oven, refrigerator, ice-maker, or dishwasher. And also reference the number of people that can be accommodated at one of these events.

Remember: your community amenities can increase incremental or ancillary revenue for your property. Take advantage of slow leasing season to review your offerings and to make updates or upgrades to make them even more desirable. Then, plan a marketing strategy that highlights these offerings to increase your community’s exposure, engage current residents, and attract prospects throughout the year.