Essence Communities understands the 5 key pillars for a successful Multi-Family project and how to leverage this knowledge to drive the financial outcomes to enable Multi-Family projects to be successful in Australia.
1. Target Demographic
Understanding and identifying the target demographic is crucial for the success of a Multi-Family project. Identifying the largest population cohort and what will attract them to Multi-Family is fundamental to the comparative advantage of this asset class.
2. Market Positioning
It is critical to know the type and quality of the product to attract and retain the target demographic. Essence Communities through demographic analysis, can assist determining the markets propensity to pay for rent and any additional opt in services.
3. Design Efficiencies
Design efficiencies can drive customer satisfaction and asset valuation and financial performance. Essence can work with you to develop a suitable design proposition for the property and tenants.
4. Additional Services
Additional opt in services are a key element of the Multi-Family product offering that helps provide a comparative advantage over the private rental market as well as additional income opportunities. We will work with you to develop a suitable array of services for the asset.
5. Financial Optimisation
Essence will work with you to ensure the property achieves and increases rental rates, establishes a stable tenancy base and minimises property management fees whilst maximising additional revenue opportunities.