Additional Revenue Opportunities that we have identified:

WIFI package – We have negotiated a contract with Google to provide internet service throughout the property, which we can offer to tenants at a lower price than they are currently paying. As part of this deal, we are paid $35/month per participant. Due to current participation rates, we anticipate that this will be a significant cash generator for the property, and this was not in our original plan. This alone will increase the value of the property by over $1M if we hit our projections.

Package Locker – In our Sedona asset, we installed a package locker that tenants can pay $5 a month to utilize, and our experience has shown that a large % of tenants take advantage of this to keep their packages secure. We also anticipate that most tenants will opt in for this service, and this wasn’t in our original budget.

Reserved Parking – By numbering the parking spots, we can reserve those spots closest to the doors and allow tenants to pay for the spot. We do this in Sedona, and based on that experience, we believe we can get somewhere between 20-40% participation at $25 per month per space. This should generate between $12-$24K per year, which increases the value of the property by almost $500K.

Covered Parking – At Regatta, we have 85 covered parking spaces, which are highly desired, yet there is no premium currently charged to park there. We anticipate that we will be able to charge between $25 to $70 per month per spot for the convenience of parking out of the sun and rain. This additional revenue is not in our current plan.