One of the ways to attract more tenants in your multi-family unit is to offer an on-site gym. By offering this enhancement as one of the perks in your building, you’re attracting a better class of tenant too. And tenants who work out would love to have the opportunity of working out without even leaving their building. They could then come home from work, change into workout clothes and grab their gym bag, go to the gym, come back to their apartment and make a bite to eat and then relax for the evening; all without leaving where they call home. Plus, if the gym is included in the rent, and they don’t have to pay extra for the membership as a separate item, it’s an even more attractive perk.
In your gym you could offer lower body/cardio workout and state of the art exercise and fitness equipment. Access to the fitness center could also include locker room facilities. Some building owners offer gym attendants and trainers; saunas, pools and spas too. Other multifamily units have unlimited access with a key entry system for whenever the mood strikes the tenant to work out. So if he or she has had a bad day at the office, some lifting of weights or walking on the treadmill could help to ease the stressful day. With an onsite gym, tenants are more likely to use it just because of its very availability also.
Adding an on-site gym can be expensive as an initial investment for you, the landlord. But the return on investments and quality of tenants will not only outweigh the expense, but it will compensate you as well. With the gym rates integrated into the rent itself, your rents will cover the fees and if the demand for your apartments goes up, rents increase. This will assure that you get your return on your investment in the on-site gym. Your tenants will be happier, healthier and the draw of the on-site gym will spread by mouth as well as advertising. You may even have a waiting list for the available apartments for whenever a tenant moves out.
By having an on-site gym, it’s a win-win situation for both you and your tenants.