Increased occupancy rate by 20% and rental income by updating common areas and implementing a new marketing strategy for a mixed-use property.
The problem
Aurora Real Estate was approached by a client who owned a mixed-use property in a prime European location. Despite its location, the property was struggling with high vacancy rates and difficulty attracting quality tenants. The client was concerned about the property's profitability and was looking for a solution.
The Solution
We conducted a comprehensive analysis of the property and identified several areas where improvements could be made. They recommended a series of renovations, including updating the common areas and adding amenities to make the property more attractive to tenants. Additionally, Aurora Estate implemented a new marketing strategy that targeted specific tenant demographics. The marketing strategy included a combination of social media marketing and targeted advertising to reach the desired tenant demographics. To measure the effectiveness of the new marketing strategy, Aurora Real Estate conducted regular market analyses and adjusted the strategy as needed.
Conlusion
As a result of our recommendations, the property's occupancy rate increased by 20% within the first six months, and the client saw a significant increase in rental income. The client was thrilled with the results and thanked Aurora Estate for their expertise and support throughout the process. The property became profitable and the client continued to work with us for their other properties.
Aurora Real Estate was able to maximize returns on the client's mixed-use property investment by identifying several areas of improvement and implementing a new marketing strategy targeting specific tenant demographics. By doing so, Aurora Estate increased the property's occupancy rate and rental income, ultimately resulting in a profitable investment for the client.