The comprehensive marketing and leasing campaign ran over just 120 days, and all residential apartments are now leased.
Realmark’s structured letting campaign was able to respond the volatile market conditions and delivered both outstanding rental yield and security results for the clients across a variety of tenancy types.
Anita Percudani, Director at Realmark shared insights into the strategy the agency deployed to reach this result.
“We initially furnished three apartments, one of each configuration – enabling the owners to secure higher rent with a furnished offering, while enhancing the marketing to capture interest from more tenants in the market.
“Being located on a busy intersection, to take advantage of the complex’s location– custom signage was designed for the street-facing balconies, while signage on the ground demanded attention from passing traffic,” said Anita.
“Outside of the traditional leasing portals, we incorporated social media as a promotion channel attracting an entirely new audience – using video to convey the complex’s high spec and beautifully finished layout.
“Due to the large number of apartments to be leased, we used 3D tour technologies so that tenants were able to discover the different configurations in the comfort of their own home before and after inspections which helped them make a decision around their apartment preferences. It also helped tenants who were unable to attend the inspections in person.”
The flagship apartment leased well above market value and higher than other penthouses in the area. By working with an already qualified tenant, Realmark was able to coordinate the furnishing fit out to meet their tenant’s needs – attracting them to 557 Marmion Street over other options in the market.
The complex developer and owner said that the agency was responsive and proactive throughout the process.
“We’d be pleased to recommend Realmark to any developer who’s looking to align themselves with a professional property management partner for their leasing and management needs.
“The team were diligent in finding quality tenants, and dedicated in ensuring the complex was fully leased in a timely manner; including running expressions of interest campaigns prior to completion, a grand opening day, and advertising outside of the usual channels with regular open for inspections.”
In the current unpredictable market conditions, it is not just a enough to have your property let, but ensuring you have the smart combination of tenant selection, comprehensive documentation, insurances, lease term security and achieve the highest yield possible from your investment property.
Realmark Urban employs a dedicated leasing team who are experienced in leasing properties across urban locations around Perth. If you’re a developer who’s looking for advice around values, feasibilities, or a strategy to lease your apartment complex, call us on 08 9388 3911.