How to increase the annual budget while making your condominium more bike friendly

Written by

Kim Brown

Published on

January 8, 2025

Would you consider your condominium to be bike friendly? If you’re not a cyclist, you may have not given this question much thought before.

    

Download our free bike rack lease template

    

But bikes have become increasingly popular, especially in high-density areas. In fact, this trend is significant enough that some developers have prioritized bike storage and accessibility. One developer is incorporating “over 7,000 sq. ft. of bike amenity space” into their new condominium. Amenities include a gear room, a washing station, devoted lockers for cycle storage and a dedicated bike elevator. Other developments that are tight on space are offering bike storage over parking spots. 

    

Table of contents

    

Bikes are valuable to cyclists for many reasons

A good road bike can cost anywhere from $1,000 up to $10,000 for a high-end, customized ride. As such, thieves will eagerly steal bicycles are sell them for parts. The crime is low-risk, high-reward, which is why bikes are stolen so often.

Cost is one reason why owners get so upset when their bikes go missing, but it’s more than that. Many rely on their bikes to get to work or do errands. For some, their bike is their primary mode of transportation. Others use bikes to compete in triathlons or races. Bikes keep people moving forward, and when they are stolen, albeit briefly, their world stops.

Urban multifamily buildings that are equipped to keep bikes safe(r) will attract tenants more quickly than buildings without adequate bike protections. And, by offering secure bike storage solutions, corporations can generate more revenue for annual budgets too.

    

Benefits of leasing condo bike racks to tenants

    

Additional money for the corporation’s budget

There are multiple benefits to having bike racks for lease. For starters, if the racks are located underground or in a bike storage room, the corporation can charge cyclists a reasonable fee to use them.

Depending on demand and complexity of the solution, condos can charge anywhere from $25 to $100 annually. Bike racks don’t require too much maintenance, so those annual payments will add up over time. 

Some corporations might question if the extra admin work is worth the additional revenue. However, staff won’t have to do much manual work at all if they use a system that automates the leasing process.

Condo Control’s community assets feature, for example, has a leasing management component that simplifies the process of managing leases by supporting automated renewals, offering grace periods, and sending renewal reminders to residents.

Applications can be filed and reviewed online, and payments can be processed online too. Not only does this online process reduce manual work for staff, but the user-friendly process encourages more residents to apply for a bike space. The high participation rate leads to maximum revenue generation.

If bike racks are limited, the corporation can even use Condo Control to create a waitlist, ensuring a fair and timely procedure for issuing these assets.   

    

 Fewer residents breaking condo rules

Many condo buildings have rules that forbid residents from walking their bikes through lobbies or squeezing them into elevators. 

These rules are usually created because there is concern the bikes will accidentally damage common property. Additionally, condo boards may want to prevent bikes from being stored on balconies due to safety concerns, but some may also view them as an eyesore.

Most cyclists would not have any issues following the rules if they had somewhere safe to park their bikes. But there are too many condo buildings that either have no storage options available, or offer basic outdoor racks on the perimeter of the property.  

Residents know that their bikes are not safe from thieves if they are stored outdoors, even if they invest in a high-quality lock. They would rather risk being penalized by the condo building for bringing their bikes into elevators than lose their prized bicycles.

Access to a secure bike storage room can change a lot. Not only do busy hallways and elevators remain clear of bulky bikes, but bike owners feel less anxious about losing their bikes to thieves.

    

Fewer complaints

If a bike is stolen from a rack located behind a condo building, management is going to hear about it. Residents will complain if the bike storage solutions provided to them are not comprehensive.

While management can’t do anything to replace a bike once it’s gone, they can suggest ways for the condominium to minimize bike thefts.

With fewer complaints to process, management has more time to focus on other tasks. 

    

Designate space for a bike room if possible

Mounting bike racks to a parking garage wall is a good starting point, but thieves have still found ways to steal bikes from this type of setup.

The safest approach to bike storage is to establish an access-controlled bike room.  This way, pressure is put on thieves who try to sneak in because they won’t be able to know when someone is approaching the room. It also takes them longer to escape with the bike, and all of these inconveniences may be enough to deter opportunistic criminals.

Experts recommend that bike rooms should be strategically placed, considerate of different types of bikes and users, and equipped with security cameras.

    

Location

  • Bike rooms should be strategically located near building entrances or commonly used areas
  • They should be spacious enough to comfortably accommodate bikes
  • Rooms located in an area with minimum clear heights of 96 to 102 inches will allow for both staggered vertical racks and double-tier horizontal racks

    

Security

  • Bike rooms that have secure access control systems such as electronic key cards, PIN codes, or secure entry mechanisms are most effective
  • Good indoor bike rooms have clear visibility throughout the room
  • Multiple aisles reduce potential congestion and damage while promoting safety and security
  • Install surveillance cameras or security systems to deter theft and vandalism
  • Ensure proper lighting within the bike room to enhance safety and security

    

Features

  • Consider accessibility standards to accommodate users with disabilities
  • Select sturdy and well-designed bike racks that hold bikes in place and prevent damage
  • A portion of bike room racks should include fat tire bike racks and fender racks
  • Include instructional signage on how to place bikes into a vertical position and how to load bikes
  • Keep the space clean to encourage repeated use. Make sure there is a floor drain so the room can be washed periodically

    

Additional tips for cyclists

Even a good bike room won’t stop 100% of thieves. Cyclists are strongly encouraged to do what they can to keep their bikes safe. That includes purchasing a strong lock (a U lock, for example) and being proactive about keeping strangers out of the bike room.

Condo residents have seen instances where someone with a bike tailgates their way into a bike storage area, pretending that they are also a resident who intends to lock their bike up. Once inside, they will ditch the bike they have and attempt to steal a more expensive one.

Resist the temptation to be courteous when entering or exiting a bike storage room.  

  • According to a report from Kelowna RCMP, most (84%) of bike thefts happened between 7 a.m. and 7 p.m. That means thieves are comfortable swiping bikes in broad daylight
  • Thieves cut through bike locks more than half of the time. Invest in one that is hard to destroy
  • The majority of people who reported a stolen bike did not know their serial number. Police urge bicycle owners to make note of their serial numbers so that they can be included in theft reports. In some cases, you can even register your bike with police so that it is on file if you ever need their help later

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