If you are managing or running a commercial property, you know how important it is to keep your facilities maintained and upgraded. Whether you are an apartment complex manager, running a hotel or a community recreational center, upgrades can make the difference to your bottom line. And, some of the best upgrades you can make is to your facility’s pool.
We have done countless commercial pool renovations over the years ranging from hotels to apartment complexes. The number one reason we see property managers upgrading their pool area is to help attract residents and guests. After all, people are willing to pay a premium for a nice pool facility, whether they are in town for a few days with the family at a hotel or if they are moving in permanently to an apartment.
In a recent report from Property Management Insider, it was noted that today tenants are seeking socialization features. Such features include a clubhouse and common areas – including pools. Upgrades to such facilities have shown to provide an average of $25 per unit rent increase.
The article noted that a recent upgrade in social areas, including a pool upgrade, a Texas complex was able to increase the occupancy rate. This complex spent $239,000 in upgrades and saw occupancy jump from 84 percent to 96 percent with a $51 per-unit increase in rent. The total net return was 39 percent.
When it comes to hotels, your pool is one of your most valued commodities. After all, when a guest pays for a room, they expect to have access to all the hotel’s amenities. If your pool is closed for repairs, or not in great shape, they will complain and sometimes leave less than favorable reviews. And, in some cases, you may choose to provide a partial refund, which can add up. For example, if you operate an 800-room hotel with an average rate of $112 per-night and an average stay of five nights, you are looking at $448,000 net over that period. But, if your pool is down for lengthy repair and you offer $100 in a partial refund (less than 20 percent), you have a loss of $80,000.
If you are looking to attract tenants and increase occupancy, the best investment is your pool – performing upgrades and keeping it maintained. If you run a hotel and want to keep bookings up, ensure your pool, also, is being properly maintained and serviced. If you are looking for an Atlanta Commercial Pool Renovation and Service, look no further. Give us a call at 770-451-1621 or request a free consultation.
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