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Make Your Building Work For You 4

Under Family Category: Family Finance, Family Environment

Continued From Make Your Building Work For You 3

7. Think Of Ways Your Building Can Make Money
Many apartment buildings, particularly if they’re new, can go through periods of not having much spare cash in their coffers. It’s always good, therefore, to think of ways of augmenting funds. Paid advertising in newsletters and on the website are possibilities, but they do need someone to spend time organising and supervising it. There are a number of other options, too. Do you have a tall building? Telephone companies are often looking for space on top of buildings to place masts, dishes and electronic equipment. Call around all the local telcos to offer roof space for a decent yearly rental. State roads and traffic authorities also need to place cameras on high roofs to check traffic flows. You could also be a candidate for such rental income, particularly if your building is close to any major intersections or new roads.

Another way of earning money is to offer your common areas to any local film, TV or advertising companies as good sites for filming. Location scouts are always hunting for places that haven’t been used before, so why not make their job easier by emailing photos and a description of your building? One short-cut is to register your building with a locations agency. You could also ask around the building and see if any individuals want to register their apartments. That means they earn rent - and usually the building does too, because all the cables and equipment run through common property.

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