How to Measure the Added Value of a Residential Fitness Center

Posted by Mike Rucker on Dec 21, 2015 1:00:00 PM
When you are expanding your offerings and amenities for condo owners or renters in your apartment complex with an onsite fitness center, you'll need a way to measure the overall value of the development and management of the fitness center. Many residents may consider moving in or staying at your venue for the long-term based solely on resident amenities such as a fitness center, swimming pool, clubhouse, and similar privileges.

Here are some of the most effective ways to measure the added value of a residential fitness center:

Improved Standard of Living

Consider how many residents are interested in maintaining a healthy lifestyle and would rather work out near their home instead of driving or walking to a nearby gym. You can promote a higher standard of living with an onsite fitness center reserved exclusively for residents and community members. This positions your property as a wellness-oriented property and can attract more residents that want to live a healthy lifestyle.

Promote a higher standard of living with an onsite fitness center.

You could also promote the value of saving money on the cost of a gym membership each year for budget-conscious residents - Statistic Brain Institute reports the average monthly cost of a gym membership is $58 and $39 of that investment goes to waste from underutilization. Having access to an onsite fitness center could help residents save money, making your property a more attractive choice to maintain a high standard of living.

Increase the value of your property with a fitness center amenity.

Overall Property Value Increase

You may be able to increase the value of your property for a future sale or purchase by investors by adding a coveted amenity such as a residential fitness center. Having a resort-style pool, fitness center, activities room, and a business center can increase the value of your property because they can attract more high-profile residents looking for luxury amenities they would find at a hotel. As long as you can account for fitness center management costs, including repairs, upgrades, and general upkeep, having a fully-equipped fitness center onsite can make the property more attractive to both residents and investors.

Aesthetic Appeal

You may be able to attract more residents with an aesthetically-pleasing property or building floor plan. According to this case study from Precor for The Meadows Apartment Homes in Culver City, CA, property managers know that prospective residents tour 5 to 7 properties before making a decision and estimate that more than 80 percent of visitors have an interest in pool and fitness facilities at the property.

Adding an onsite fitness center to your apartment complex or condo community may help to increase the aesthetics of the space, making it a more attractive destination for both prospective residents existing residents who are considering extending their stay.

Building and maintaining a residential fitness center at your property offers numerous benefits to both residents and investors. A fitness center can improve the quality of life at your property and also increase the value of your property. Consider all of the residual benefits and added value a residential fitness center can have at your condo community or apartment complex.

Contact us today and let Active Wellness help you build a top-notch fitness center for your community!