Rental property is one of the best sources of passive income. Plus, it’s an incredible investment and wealth-building tool that can appreciate in value quite rapidly. That said, owning rental property isn’t all rainbows and kittens.
Many landlords in various parts of the world keep losing tons of money due to issues like low occupancy, high turnover, and declining rent. But don’t fret; you can avoid this immense pitfall in various ways. One of the best yet least explored is to upgrade one’s property by installing a fitness centre. Here’s why you should invest in this facility:
1. It’ll Make Your Property More Appealing
Since the COVID-19 pandemic, most people have been focusing on their health and well-being. That is why millions of tenants around the world are active gym members.
If you install a fitness centre on your property today, you will attract a large number of tenants who are focused on improving their health and overall well-being. This asset will enable you to stand out and bag more clients, especially young professionals.
2. Boost Property Value
Would you like to increase your property’s value? The answer to this question will more than likely be a resounding Yes! In that case, you should speak to an outstanding tenant fitness management company like Plus One and request immediate fitness centre installation.
With this facility in your property, you can charge higher rent, and your property will still be appealing. It will also encourage tenants to renew their leases, stay longer, and pay rent promptly, which boosts the property’s financial value.
3. Reduce Tenant Turnover
High tenant turnover rates cause many issues, from income loss to spiking repair expenses. Fortunately, you can eliminate high turnover and save a lot of money by installing a fitness centre. The facility will make it easy for your tenants to exercise and stay fit, decreasing the odds of them shifting to buildings that have this incredible feature.
4. Create a Sense of Community
A fitness centre is a shared facility that allows your tenants to mingle and connect. The interactions that occur in a fitness centre foster stronger tenant bonds and create a sense of community. Such aspects play a crucial role in boosting tenant satisfaction, facilitating long-term tenancy, and building a positive property reputation.
5. Enhance Tenant Health and Well-Being
Healthy tenants are more likely to work hard, earn income, and pay rent on time. Conversely, sick employees are more likely to miss payments and face eviction. That is why you should consider investing in a quality fitness centre. It will enable your tenants to improve their health and well-being, consequently making it possible for them to remain productive and cover bills on time.
6. Improve Your Property’s Reputation
A rental property with a fitness centre has a better reputation than its counterparts. With this facility, your property will market itself, and current tenants will be more than willing to recommend it to others. The good news is you don’t have to splurge money building a next-gen fitness centre. Even a modest facility can improve your property’s reputation.
Does Your Property Need a Fitness Center?
In an era where most people are dedicated to improving health and well-being, installing a fitness centre in your rental property is highly advisable. That may sound like an immense task, and it is. But don’t worry; you don’t have to do it alone.
Plus One, an Optum Company, can help you install a first-rate fitness centre for your tenants. With outstanding experts and state-of-the-art solutions, you can rest assured that your clients will have access to a modern facility that promotes optimum wellness and operates seamlessly. Contact the company’s team today for more information.