Industry Insights5 min read
Exploring the Nuances of Ancillary Income
Kasee Godwin
Ancillary income, a fundamental principle in the multifamily sector, encompasses the various revenue streams that property owners and managers can tap into beyond the primary rent collection.
Common ancillary streams
- Pet rent and pet fees
- Parking and storage
- Utility billing and services
- Deposit waiver fees
Where it goes wrong
Ancillary fees that aren't transparent or aren't easy to pay create disputes and chargebacks. The fix is to surface them clearly at signing and make payment frictionless inside the resident portal.
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Originally published at qira.com.
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