Multi-Family Budgeting for 2017: ROI in Your Amenities
How apartment managers are saving six figures a year leveraging on-site fitness programs.
It is no surprise to anyone that the cost of living is exceeding affordability. With the national average of rent being $1,232 a month and the median household income being only $51,939, $39,838 after taxes, multi-family living is beginning to reach its consumer tolerance.
“Rent growth has outpaced wage growth by nearly double in the past five years, causing many renters to reach a 30% rent-to-income ratio, which is usually considered indicative of financial stress."
We are reaching a point where rent simply cannot increase anymore.
So what do we do? Lean on your amenities! Partnering with Anywhere Fitness, and offering an on-site fitness service that provides group fitness classes and personal training, can save the average renter over $696 a year. Whoa!! Thats huge money.
It’s a smart financial investment. In a 250 unit community, you can save your residents $174,000 a year. For as little as $400 a month, $4800 a year, you can provide outstanding value through health and wellness to your community, while also increasing rent by $670 annually. It’s a no brainer! You already have the gym, just implement the staff! The staff is Anywhere Fitness!
Gym memberships aren’t convenient for your residents. In the US today, there are over 111,118,927 renters. Of those 111 million renters, over 18 million of them pay for gym memberships off site(Statista). Most of those gym memberships are not utilized for convenience factors. Wasted money, money that could have been spent on rent. We want to help you tap into that wasted income and utilize it to not only to line your pockets, but also benefit the health and well being of your Neighbors!
Want to learn more? Our team of experts visit your site for a free consultation of your fitness facilities by completing the form below.