Amenities at your rental property are a big selling point, and in some markets, they can be the tipping point that sets you apart from the competition. A resident gym is becoming an increasingly common–and expected–amenity in multifamily housing. Unlike other common amenities, resident gyms can be underutilized quickly if you don’t optimize your space. If you’re looking into creating a gym for your apartment or multifamily property, be sure you understand what renters are looking for when they envision an apartment fitness center.
Assess Your Equipment Needs:
Gym equipment is a hefty investment. Assessing your equipment needs accurately from the start can be crucial to your bottom line. Too many pieces of equipment and your gym space will suffer from overcrowding and not be cost-effective. If you don’t have adequate or enough machines available, your gym space will be underutilized since many fitness enthusiasts will find their needs unmet.
Knowing how much of what equipment to get can be tricky. Rentfitnessequipment.com suggests this equipment breakdown based on your unit count to can get you started:
For rental property gyms with less than 100 units:
- 1 treadmill
- Choose 2 other cardio machines:
- elliptical trainer
- stationary bike
- rowing machine
- Multi-gym or a 10-pair dumbbell set (ranges of 5lbs to 50lbs)
- Adjustable flat to 90-degree workout bench
For rental property gyms with 100-200 units:
- 2 treadmills
- 1 elliptical cross-trainer
- 1 stationary bike (recumbent or upright)
- 1 rowing machine
- Choose a full-body strength training setup:
- Multi-gym with 2 separate weight stacks (allowing 2 people to work out simultaneously)
- 10-pair dumbbell set (ranges of 5lbs to 50lbs)
- 2 adjustable flat to 90-degree workout benches
For rental property gyms with 200-400-plus units:
- 2 treadmills
- 2 elliptical cross-trainers
- 1 stationary bike
- 1 recumbent bike
- 1 rowing machine
- Multi-gym with 2 separate weight stacks (allowing 2 people to work out simultaneously)
- 10-pair dumbbell set (ranges of 5lbs to 50lbs)
- 2 adjustable flat to 90-degree workout benches
Remember that you can always survey your tenants to see what equipment they would like most, and you can always purchase more down the line if you find that your space needs more. You also have the option to rent or lease equipment should you decide that is the best route.
Invest in the Correct Equipment for a Resident Gym:
Additionally, keep in mind that residential grade equipment is typically manufactured with less expensive materials and is built for moderate use with 1 or 2 people in mind. If your resident gym will be used frequently and by multiple people each day, you will likely need will require commercial-grade equipment. Evaluate your facility’s needs based on your unit count, this will help you determine how much of each item to purchase, and whether commercial equipment is strictly necessary for your rental property’s resident gym. You can check your preferred vendor’s qualifications for use ratings–keep in mind that their advice could be relevant in the instance of warranties and liability if a piece of equipment breaks or causes injury. Remember, that your investment doesn’t end with just the equipment. To ensure limited wear and tear to the flooring, and to make workouts more enjoyable for residents, invest in gym flooring in all necessary areas.
Consider the Boutique Fitness Crowd:
Millennial and Gen Z tenants are the most likely to invest in boutique gym experiences or equipment. To make your resident fitness center appealing to your tenants, be sure to keep this in mind when selecting your gym amenities. Consider spicing things up and deviating from just the standard gym equipment. Boutique equipment will not only increase your current residents’ usage but can serve to entice renters who have an apartment gym on their amenities list.
Consider investing in a fun and challenging workout option like:
- Basic Cross-Fit Equipment
- Stability bar for barre workouts
- Rock Climbing Treadmill
- A Mirror or Peleton
To further stand out from competitors’ basic apartment gyms, work with a local NASM certified personal trainer and negotiate discounts for your residents. They can offer personal training on-site and will have a steady stream of potential clients. You can also hire freelance instructors who can offer occasional to weekly fitness classes such as Zumba, Barre, Yoga, or Pilates. If you want to further wow your tenants, add a snack and water station where tenants can purchase healthy snacks and beverages.
Market Your Apartment Fitness Center Properly:
As with any amenity, marketing is key. If potential renters don’t know you offer an amazing amenity, it is likely that it won’t meet its ROI potential. Take advantage of your hard work and be sure to include images and descriptions of your resident gym in your listings. If you use your apartment fitness center to host any classes or have any fun equipment, be sure to highlight those things on social media as well.
Want to really make the most of your resident gym? Include sign-ups inside for resident events that will appeal to fitness enthusiasts. Scheduled hikes, bike rides, and walking groups can be a great way to build community at your rental property will little financial investment. These also create excellent opportunities to take photos and market your rentals on social media to show potential renters how fun living at your property can be.