We are entering a new era where extra amenities are no longer just a bonus but a necessity for modern buildings. Amenities like golf simulators, basketball courts, pickleball courts, and gyms are becoming increasingly popular, offering tenants added value that sets your building apart. These features not only attract new tenants but also help retain existing ones, fostering a fun and interactive community culture.
That said, these amenities come with costs. To maintain a financially sustainable building, it’s essential to keep a close eye on every detail. Based on our experience and data collected from various facilities, we’re sharing some tips on how to monetize these spaces while still creating a vibrant and productive community.
1) Membership Fees
A modest monthly membership fee (usually between $30-50, depending on the size of the building) can help offset the costs of maintaining these spaces. If you offer high-quality classes or premium services, you can charge additional fees for these, further boosting revenue.
2) Private Coaching
Offering private coaching—whether it's personal training, tennis, or golf lessons—can transform your amenity spaces into premium service areas. This not only enhances the value of your amenities but also generates additional income from coaching fees.
3) Locker Services
Lockers are a simple yet effective way to monetize your space. They don’t take up much room and can be rented out to tenants for a low fee, as the cost of installation is minimal.
4) Workshops and Events
Hosting workshops—whether focused on health and wellness, sports, or even financial literacy—is a great way to engage tenants. Bringing in professionals like athletes, nutritionists, or financial advisors can add value to their membership, and you can charge fees depending on the expertise offered.
5) Hire a Management Company
Managing all these services can be complex, but hiring a management company like LC Fitness Management can streamline the process. We specialize in providing premium services and ensuring financial sustainability, all while fostering a fun and inclusive culture in the buildings we manage. Our goal is to attract and retain tenants through high-quality services delivered responsibly.
Interested in learning more about how we can help your building thrive? Email us at info@lcfit.ca and let’s discuss how our services can benefit you.
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