There was a time when having an on-site fitness center gave your multi-family housing a distinct competitive advantage. Unfortunately, those days are gone. Today, most (if not all) of your competitors have fitness centers, and some might even be better than yours.
With healthy lifestyles and wellness concerns on the rise, Americans are more and more focused on finding a true “state-of-the-art” fitness facility right in their own building or community. The multihousing industry has been forced to raise the bar in terms of the fitness facilities they offer. If residents find value in the fitness offerings of their communities, they often will be willing to factor that into their monthly rent payments or condo fees.
If you manage or own a multi-family building or complex or are building or updating one, you have to focus on making your fitness facility one that residents and potential residents want, if you want to attract or keep tenants or buyers. Additionally, you serve a wide variety of residents—young and old, male and female, fit and not-so-fit. Each resident is unique and you have to meet those diverse needs, while keeping your budget and space constraints in mind.