Gym in STR- Is there any Value?

Question

Does anyone offer a home gym in their STR? I am looking for ways to differentiate our rentals in a competitive market. If you offer one, do you think it is helpful in getting more interest? How many people use gym in their filters when searching for rentals?

Kevin Boyd · Answer

How is a simple gym with a few dumbbells etc. such a big liability? Is it more of a liability than steak knives, a staircase, a swimming pool, a fire pit?  Seems like people are a lot more scared of liability than they should be. Like, how can you own a business or even a STR if you are afraid of someone dropping a dumbbell on their toe and hiring an attorney? I’ve owned several businesses, dozens of properties, hundreds of employees and not a hint of any frivolous lawsuits. I guess I just choose not to be afraid of the boogie man. And if the boogie man were to tear his ugly head, I have insurance.

Michael O'Brien · Answer

I think your best bet would be to see if there is a local gym you could make a “guest” deal with of some sort.

maybe pay a 2x yearly membership fee for 1-2 guests to get unlimited access while there, they just have to say your Airbnb’s name while there for the membership name.

That way you won’t have a potential claim of an injury caused from used equipment or not properly showing how to use equipment for a home gym.

if you do end up doing a home gym, it depends what type of people you are catering to. If generally athletic, you will want to probably spend 2-2.5k for a real home gym setup (freeweight dumbbell rack, freeweight bench and power rack, treadmill) that is marketable above the other listings out there.

Joey Morea · Answer

@Kevin Boyd

If you have the space make it a cool themed game room or Theater room. I think that will give you way better roi then gym plus with heavy weights and machine opens you up to more liability risk in my opinion.

John Teachout · Answer

We have gym equipment in our airbnb and it almost never gets used. We have treadmill, strider machine, bar bells, dumb bells, weight bench, etc. I would say to not bother. The only reason we have all this stuff available is my kids used it when they were in training to go into the military.

Julie McCoy · Answer

@Kevin Boyd I'd look at your typical rental demographic and the length of their stay.  If you frequently cater to guests who stay a week or more, and they're the type of people who frequent a gym.  I don't think anyone is going to worry about missing the gym if they're in town for the weekend.

I do think that if it means giving up sleeping area, you're giving up revenue.  But if there's some space that's otherwise not capitalized on, and your primary demographic is a good fit for it, it may very well help set you apart.

Kevin Boyd · Answer

I have To assume that upscale hotels have considered the ROI on gyms. There must be a certain segment of the population who stay at hotels that have that requirement or or at least place a value on a gym. Wouldn’t the same holds true for a luxury STR? I can’t imagine that if I spent $5000 on a gym that it would take 20 years to recoup the investment. My other idea was golf simulators.

Paul Sandhu · Answer

Yes, but the payback period for the incremental cost would be in excess of 20 years.

Kevin Boyd · Answer

I am not concerned about the liability. If I had a concern about liability I certainly wouldn’t be in the vacation rental business. We have pools with waterslides, trampolines, etc. etc. And I’m certainly not interested in providing the gym just to be a nice guy. The question was would a GM produce more revenue?

Gym in STR- Is there any Value?

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