Note that the answer to this question will most often depend on who you ask. Have it in mind that the costs for valet trash services will not be the same for valet trash companies, property managers, or even residents. Owing to that, you might encounter costs as small as $8 per month or as massive as $35 per month.
Although it can seem quite straightforward to give a quick range for the cost of a valet trash service, however, what you charge for valet trash services will vary massively depending on numerous factors. Note that property managers contract valet trash services at a price per unit per month. Most often, this will cost around $8 to $15 per unit.
A 100 unit property might have to pay around $800 and $1,500 per month. However, all these costs are passed to residents. If one property manager pays $8 per unit and another pays $10 per unit, the property manager can choose to pass the $2 price difference to residents.
Most often, the valet trash service cost is included in a residents’ lease, and while it is not an optional convenience, note that it has become a mandatory service, and residents are not offered that much choice of whether or not they intend to use the service.
While some residents might consider valet-trash service unnecessary, even communities that don’t offer valet trash will still charge a trash removal fee for dumpster maintenance. Therefore, residents are advised to enjoy the convenience provided by a valet waste service.
Factors That Determine How Much You Charge For Valet Trash Service
Valet trash removal is becoming increasingly necessary in this age, and many residents consider it a valuable amenity for their place of residence. However, as a property manager eager to offer valet trash services to your residents, numerous factors can influence how much you charge. These factors may include;
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Property Type and Size
The size of a property will surely influence the cost of valet trash service. This is because valet trash companies become more operative based on the type and size of the property. The ideal property size for valet trash companies is garden-style properties with around 300 units.
These properties will often get the most ideal pricing per unit. However, although 300+ unit garden-style properties will get the best pricing for doorstep trash pickup, smaller properties often have to deal with higher costs. This is mainly because it costs almost the same thing to send trash valets to a property with 100, 200, or 300+ units. Owing to that, smaller properties will have to deal with higher per-unit rates for doorstep trash collection.
Frequency of Valet Trash Pickup
In the United States, most valet trash service companies collect trash around 8 pm and 11 pm, 5 nights per week, normally Sunday to Thursday. Although this is the industry standard, have it in mind there may be certain exceptions.
There are valet trash companies that offer charges based on 3 or 5 collections per week, with the cost going past $8 per unit to $12 per unit. Even though other numerous factors will surely influence valet trash fees, frequency of collection works both ways. Once a property manager increases or decreases the number of weekly collections, costs respond accordingly.
Valet Trash Contract Length
Most often, property managers contract valet trash companies on a minimum 1-year basis. Howbeit, note that a good number of providers tend to offer 24 or 36 months to property managers, and some might also offer a discount if a long-duration contract is signed.
However, this will surely vary on a provider-by-provider basis and each will offer varying incentives for signing a longer contract.
But depending on property type and size, this will influence valet trash profits. For instance, if a 300 unit complex reduces its monthly costs by $1 per unit on a 2-year contract, it increases valet trash profits by $7,200 over the life of the contract.
Special Collection Times
Coupled with the frequency of trash pickups, have it in mind that special weekend collections can genuinely influence the price.
Although these are not common, they are available, especially for student housing communities. Owing to that, the per-unit rate for doorstep trash pickup at a property with special collection times will generally have to be higher than one aligning with the industry standard of Sunday to Thursday.
Note that when a valet trash removal company is one of many within the community, you will most often witness prices that are more competitive than those of a company that has monopolized its region. Owing to that, valet trash companies and property managers are advised to carry out extensive research to determine competitors’ rates or what they charge for certain services.
Valet trash companies are also advised to consider the add-on services that their company offers that the competitor doesn’t.
While this might genuinely count as an advantage in the market, identifying what nearby competition charges for the same or similar services will help valet trash companies or even property managers determine the cost of their trash valet service.
When an apartment community offers valet-trash pickup, it is most often considered a mandatory service with a monthly fee of around $25 and $35 per month. However, note that a property manager with a 1,000 unit portfolio could make $13,000 per month off their residents’ trash, and this translates to over $150,000 annually.
Since it burst into the limelight in the last decade, valet trash service has become extensively popular as a result of the financial impact it can have on property managers and the companies that offer these numerous services.