Tapping the Family Market with a Playroom
Dec. 4, 2014 — When we think of co-op or condo amenities, we tend to think of fitness centers, bike rooms, storage facilities, and garages. But one amenity that nobody should overlook is the playroom. Here we review why, as well as the protections your building will need to have in place.
Take a look at the numbers. How many children live in the building? If your building has experienced a baby boom, the number could have jumped from 3 to 25. Even if you have only a few kids, a playroom is a solid investment. It's the perfect space to host classes for toddlers and stage other activities. Parents can also rent out the playroom for birthday parties and play dates or use it on rainy days.
A Premium Package
A spare room cleared out and outfitted with toys is nice, but investing even a few thousand dollars in decking out the space can have significant payoff. Install an air-conditioner, put in a full kitchen — complete with microwave, stove, and cabinets — and a bathroom.
Add a kitchen and bathroom? It may seem like overkill, but that can create a premium space that can serve as a key selling point for the building. Having a fully stocked playroom also keeps back-and-forth foot traffic and noise in the common areas to a minimum — which keeps the childless tenants happy.
Money-Maker
Use of the playroom may be considered an amenity for all residents, but the space can still generate revenue. For a fee, a resident can utilize the space for private parties, book readings, or other events. To determine the price, check to see how much it costs to rent a commercial space, so you can keep prices both competitive and appealing.
Because Accidents Happen
The board should sit down with the property manager and building attorney to discuss what will happen if an accident or incident. It's typically the property manager who files an incident report.
Hammer down language that protects the building in case of intentional damage to the playroom or the contents within it. For example, the building attorney may recommend that anyone found to have deliberately damaged the playroom or its contents will be fined at least $100, depending on what was damaged, and a warning that more severe actions may be taken by the board/property manager.
You should also determine a lost-and-found policy, stating that the building/property manager is not responsible for lost or stolen items, where the lost-and-found area is, and how long lost items will be kept before being donated to charity or discarded.
So that there are absolutely no surprises, include in very clear language the rules and regulations and the hours of operation (including a warning that the hours might change). Post the rules prominently and be sure that everyone who uses the playroom understands and follows them.
Being clear upfront can spare you a lot of headaches later. Make sure to disseminate the rules of usage in bullet points that are easy for playroom users to digest. Some rules may include requiring children to be accompanied and supervised by a parent or responsible adult, not permitting sick children from using the playroom, not permitting pets unless they are certified service animals, and requiring adults to leave the playroom neat and in good condition.
For more, see our Site Map or join our Archive >>