Monthly Archives: August 2015

Attract More Tenants with an On-site Gym

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.

community-gymIn 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.

How a Swimming Pool Attracts More Tenants

The single family market for renters with children is a strong market. This type of renter is looking for multi-family apartments complexes with enhancements and a kid friendly environment. So the single family renter is looking for places that have heavy duty swing sets, game rooms, and a clubhouse and; of course, a swimming pool.

A community pool is a wonderful selling point for a multifamily property then. And since pools are where people gather, a sense of community can be built within the property. In areas of high temperatures, a place with a pool can be a very tempting place to live in too. So your list of prospective tenants should grow quickly when a clean and refreshing pool as one of the selling points.

As a pool owner of a multi-family property, it will be your responsibility to make sure the pool area is safe though. You need to review the safety codes for your area then and seek legal counsel if you’re unsure on whether you’re meeting these qualifications. You also need to make sure the pool fences are in proper repair. Pool fences have a twofold purpose, first to keep people who don’t live there out. You can issue a special key or code to the people who live in your complex though so only they can enter the pool area. To the second point, pool fencing is to keep the very young children away from the water. Children are attracted to water and accidents can happen very quickly.

cool-nights-swimmingInstalling a swimming pool in your multifamily complex may be an expense you want to consider. It can be a wise investment as to draw the type of tenant you want living in your buildings. In this figuring the cost per tenant into the rent can pay for the pool and any repairs it may need down the road in no time.

Blue water, the scent of chlorine, sun reflecting off the water and happy tenants gathered around the pool is what a prospective tenant will see when taking a tour of your properties. This is a scene well worth investing in.