Bicycling is popular with people of all ages. And for good reason. Bikes are fun, relaxing and sustainable. But not everyone can afford to buy and maintain a bike. And if you live in an apartment, space is tight, and not all apartment buildings are designed to accommodate bikes in rental units and elevators. Sure, you can buy a bike and keep it in a bike room, but will you use it enough to justify the cost? This is where the apartment property can create a win-win situation.
The apartment property buys and maintains a custom branded bike share system that tenants can use for free. Property owners benefit by offering a valuable amenity that they can recoup the cost through the monthly lease, and tenants get access to a better bike than they would likely buy for themselves. Here are six reasons why properties benefit from a fleet of custom branded bikes:
1. Branded Bicycles Provide Immediate Brand Awareness
Custom branded bicycles are an excellent way for properties to promote their brand. Bicycles can be customized with the property logo so they show off your property wherever the bikes go.
2. Branded Bikes Offer a High Return on Investment
Studies show that amenities such as branded bikes deliver a 30% higher return on investment than unit specific upgrades. So if you are looking at investments to your property, bicycles are an inexpensive and highly visible way to add value to your property and command higher rental rates.
3. Custom Branded Bikes Are Affordable
Branded bicycles for an apartment community cost approximately $40 per unit. And since the bicycles are both functional and promotional, you get both just by adding your logo to the bikes.
4. Branded Bikes Promote Healthy Lifestyle Habits
Custom branded bicycles help attract people that share your values for healthy living. They are not just a way of advertising but help your tenants create a healthy lifestyle by choosing a bicycle for both transportation and recreation. This also helps you meet your goals for sustainability by giving people an alternative to cars for local trips.
5. Branded Bicycles Create A Positive Image For Your Company
Attracting and retaining tenants is competitive. Tenants tend to stay longer and pay more at properties that reflect their image and lifestyle. Branded bicycles help you attract tenants that value bicycles as part of their lifestyle. This is particularly true of health conscious and millennial renters. Studies show that they are willing to pay more for access to amenities that match their lifestyle.
6. Custom Branded Bicycles Are Fun To Ride
Perhaps most importantly, bicycles are fun to ride. Whether your property is an urban or suburban area, there are new bike lanes and bike paths being built everywhere. This creates newly accessible destinations and routes for people to ride.
