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Top Three Ways to Earn Ancillary Income with Your Property Management Software

February 27, 2024
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Are you looking for ways to turn your property management software into a money-making machine? Whether it’s through adding services, becoming an affiliate marketer, or offering added convenience, there are plenty of ways to earn additional income with Elevated Living's powerful and affordable property management software.

Here are a few sure-fire strategies for earning ancillary income with your property management software that will help boost your bottom line. Let's get started.

1. Use Existing Features to Upsell to your Current Residents

Elevated Living property management software provides an exciting opportunity for property managers to enhance their residents' living experience and increase their revenue through upselling. By taking advantage of the various features of the software, property managers can create customized amenities and service packages to offer to their residents.

Imagine being able to offer a personalized concierge service, guaranteed reservations of busy amenities, or other valuable services that use existing infrastructure. Not only does this improve your residents’ overall satisfaction and retention, but it also generates additional income for your property.

2. Use the Reporting Features to Create Detailed Reports for Potential Investors

Are you looking to take your property company to the next level? Then you’ll need investors and investors love detailed information about potential properties to invest in. Your property management software should provide an effective means of conveying this information in an easily digestible format.

By leveraging these features, you can compile and present a comprehensive report that includes essential information such as property value, occupancy rates, and financial performance. These reports can be shared with potential investors to provide them with the insights they need to make informed decisions about whether to commit to your property.

3. Create and Market Events that Residents will Attend

Creating events for residents can be a great way to foster a sense of community within your property and build relationships with those who call it home. Thankfully, many property management software platforms offer event features that make it easy to keep track of details like the date, time, location, and attendees for each event. With a bit of planning and creativity, you can create events that appeal to a wide range of interests and bring residents together for laughter, learning, and good times. Whether you're hosting a holiday party, a game night, or a workshop on personal finance, be sure to use the events feature to market the event, collect ticket money, and ensure a successful turnout.

The Next Generation of Property Management Software

If you are a property manager or part of a property management team looking for new ways to generate revenue, Elevated Living can help. Our software can help streamline your basic functions while improving the lives of your residents. Plus, our marketing and communications tools can offer you new ways to generate income using the amenities and infrastructure your communities already have. Contact us today to learn more about our software and to start generating new ideas and revenue streams in your communities. For more information, click here.