The recent outbreak of the coronavirus epidemic and a huge trend in fitness and wellness are reminders of how important healthy living is for renters.
It is a top concern for them and their families. Healthier tenants also mean tenants who can continue to perform well and pay their rent on time. How can landlords help?
- Exercise Facilities
Exercise is directly related to our daily health, wellness, immune systems, and performance. Whenever possible, apartment complexes should have real gyms. When it isn’t feasible, landlords can at least include attractive walking paths and trails, and yoga pavilions. Alternatively, discounts may be negotiated with off-site local gyms and fitness facilities.
- Self-Cleaning Rooms
There are now self-cleaning hotel rooms that claim to eliminate the vast majority of germs. This technology may still be too expensive to make sense in most rental apartments. Yet, there are steps landlords can take when renovating to provide cleaner spaces. Clean air supply is one of the most important. Air purification and good airflow can make a world of difference. Furnished apartments can also include features like antimicrobial and antibacterial mattresses.
- Clean Materials
Building material choices can play a big role in cleanliness and healthy spaces too. Carpet can be a nightmare full of germs. Wood is porous and is virtually impossible to completely clean unless sealed. Consider glass, metal, and sealed concrete, which is easier to clean and won’t act as a home for breeding germs.
- Keyless Entry
Many viruses are simply passed from hand to hand. Moving to keyless entry systems is a simple way to eliminate these transfers and can be a great selling feature too. The last thing you want is your whole building out of work for a month due to infecting each other.
- Healthy Foods
Our diet can help prevent sickness or help cause it. Why not add organic gardening spaces in which tenants can operate themselves? If there are any vending machines or restaurant facilities, they should be serving healthy options too.
- Rainwater Harvesting
Many of the worst disasters we’ve seen in the past and recent years have come from infected water supplies. Adding rainwater harvesting features or better purification systems is an easy way to be more eco-friendly and take good care of your tenants while reducing your utility costs and increasing NOI.
ABOUT THE AUTHOR
Bill Zahller is the President of Park Capital Properties and resides in Asheville, NC. As a Multifamily Real Estate Investor and Syndicator, he founded Park Capital Properties in 2016 after 14 years involvement in real estate investment. He works with accredited investors and professionals who are interested in real estate investment, diversification, and financial freedom.
Bill has been flying since high school. His father was a Naval Aviator and Captain for TWA. Bill has been flying professionally for over 25 years, 23 of those at his current company. He has accumulated over 12,000 hours and 7 Jet type ratings. He has also held Instructor, IOE Instructor and NRFO pilot positions with a large fractional flight company. He is currently flying the Global 6000 in a long range mission capacity. This keeps it interesting – one week its Beijing or Sydney; the next Rio or Rome.
Bill is also the founder of the Asheville Multifamily Investor Club. Visit www.ParkCapitalProperties.com for more information.