Real Estate Occupancy Sample Proposal
Increasing Unit Occupancy & Retention
Attached is our proposal for the project and other identified opportunities for your property STONEGATE AT TOWNGATE Moreno Valley CA 92553. Our cost estimates are based on Preliminary Property Diagnostics and Needs Analysis performed for the implementation by Chaic Enterprise. The objective is to integrate wellness program with the adoption of new gated community rebranding campaign.
Fantasy Investment Property Management
I have prepared this proposal for you with the knowledge that your company Fantasy Investment Property Management will be taking ownership of the property StoneGate At TownGate in Moreno Valley CA. A current top sales leasing consultant Jenny Fabian who is also partner with Chaic Enterprise has revealed your concerns regarding occupancy and retention issues at the StoneGate property. Chaic Enterprise would like to partner with your company to integrate property theme that will not only meet the goals of occupancy and retention but will also build brand identity of Fantasy Investment Property Management owned property.
We have already completed an extensive research regarding the feasibility of the project and are looking forward to discussing this further with you on how we can meet your needs. I will be your primary contact throughout the life cycle of the project. Please review the proposed concept of the project.
Client is looking to implement new marketing strategy to increase unit rentals and retention of current tenants at the property STONEGATE AT TOWNGATE Moreno Valley CA. Develop an innovative marketing plan. Maintain the current tenant level.
Reduce inventory of units & expand the current tenant population. Develop cash flow streams.
StoneGate At TownGate has unique opportunity to utilize current resources to improve the properties’ present and future occupants living lifestyle by implementing onsite activities. The proposed project will reduce attrition rate & inventory of units while expanding the occupancy rate resulting in achieving the company’s goals. Expand the current customer base and increase market share by increasing public awareness through cutting edge marketing schema. Use current & acquired resources to implement major project that will increase satisfaction of current and future occupants.
Build property loyalty and value added awareness with the new processes implemented. Increase & maintain cash flow resulting from rental of all units with control process in place.
Design wellness program on the property with the launch of new marketing strategy that will build property awareness in Riverside County. Implement project covering all aspects of total wellness for adults and adolescents residing on the property. Redesign & implement marketing strategy based on the project’s objective. Consider future implementation on all corporate owned properties.
Chaic Enterprise has identified the following needs which are not being met. Owner would like to reduce inventory of rental units at StoneGate At TownGate property and increase ROI. Residents at property need recreation activities produced at the property.
The property StoneGate At TownGate has Units and onsite world class amenities. The property faces severe competition with current and new property development with similar world class features. StoneGate At TownGate will need to distinguish itself in the market and utilize its’ strengths and opportunities to gain competitive advantage.
Chaic Enterprise has performed preliminary diagnostic of the property StoneGate At TownGate and has proactively developed comprehensive solution to address the needs of the primary stakeholder Fantasy Investment Property Management while meeting the needs of the owner’s clients residents. Chaic Enterprise integrates total quality management solution in its projects. The project team consists of industry experts with combine experiences of over years in the wellness industry with substantial support by IT PR HR and BA specialist.
Chaic Enterprise project team understands the needs of the owner and is prepared to implement results driven improvements.
Comprehensive wellness programs on the property for adults and adolescents. Increase revenue & maintaining occupancy level at 100%. Identify property value streams with the possibility to generate more revenue.
Professionals with household income of at least 60k. Professionals seeking an activity based living lifestyle.
Implement total wellness program on the property designed to build quality of life. Develop new marketing strategy and property theme that will simultaneously build property brand awareness and demonstrate the value of what the property has to offer the residents. Create profitable revenue streams through other opportunities identified. A preliminary SWOT Strengths Weaknesses Opportunities and Threats Analysis of StoneGate At TownGate property in Moreno Valley highlights the following strengths and opportunities that can be further leveraged or exploited as well as pointing out weaknesses and threats to be managed.
Property has over five hundred & fifty units. Property offers diverse floor plans viewable online. Property is less than two years old & still appears new. Property’s proximity is close to shopping malls grocery stores and restaurants.
Property offers doubled the amenities and security protection. Property is viewable on well traveled intersection. Property is spacious allowing car parking sidewalks and lawns.
Property front office is fully staffed and is friendly in nature.
Property has only 65% of units occupied despite being in operation over months. Property is paying to maintain empty units and amenities. Property marketing channels typical internet site flyers brochure are outdated & unappealing. Property amenities are not innovative and equates to other competitor’s offering.
Most of the leasing consultants lack "Value" selling ability. Property residents do not know the management at personal level. Property does not create interaction with residents through activities.
Property has lack luster marketing plan in place Get ½ off one month free etc. Property does not take advantage of its location size and amenities. Property hygiene in some buildings particularly staircases needs attention. Property has no retention plan in place.
Property responds to competitors in reactive nature versus proactive nature.
Develop "Theme Property Identity" for the property that focuses on improving the quality of life for residents in secure gated apartment community. Capitalize on the property’s proximity to well traveled intersection with outside wellness activities that will garner interest and possible tours. Develop wellness programs utilizing the front fitness center for adults and the rear fitness center for adolescents.
Poolside cardiovascular programs that includes aerobics circuit training ball exercises yoga and step. This location offers street view from passing motorist and also delighter to potential residents on tour and also visitors of current tenants. Presentations on health for kids at the youth gym and adults club house. DARE intervention; after school program.
Healthy cooking demonstrations dietitian visit at the club house & poolside grill. Market property value added features to corporations that are looking to reduce employee health insurance claims with incentives. Market property value added features to Government Agencies & Corporations looking to relocate employees to the Riverside San Bernardino Counties.
Hold poolside community fitness day event to develop socialization amongst the residents and interaction with management and staff. This will develop stronger relationship & bridge the trust gap. Competitors have not recognized this unique approach to being identified as best in class gated community in the Inland Empire. Slow implementation reaction time by cities municipals to improve park recreation provides the opportunity to be recognized as the organization that does care about quality of life for families.
Generate income from the proposed project activities.
Property value and condition will deteriorate due to continued rental to low class residents with reactive renting behavior & inability to meet financial obligations. Clandestine consultants will provide field report to the competitors’ strategic marketing team. Competitors may deploy reactive marketing to downplay the importance of the quality of life program.
Internal resistance to changes can undermine the project’s results. Disclosure of new branding campaign in the early phases may result in competitors quickly implementing similar program of far less quality but have an advantage of being the originators. It's hard to stand out when you market your property without distinctive set of prospects in mind.
Occupying niche means you won't be competing with lot of similar property solely on price and incentives. And because you will be offering services that are customized to the specific needs and predispositions of select group of people you can often charge more. Your property services serve market that can't easily find alternatives. Our research has shown that the following target market will be ideal for the project’s success.
The target market niche. Overweight at risk professionals All Ethnicities residing in the Riverside County & those relocating from the Los Angeles area. Secondary Target Niche.
Reports have shown Riverside County as growing at 20% annually. This is attributed to an influx of LA residents looking for cheaper living and better quality of life. The potential to attract this wealth moving here is tremendous if the property is positioned to offer "Value Added" services that will build its’ name and essentially financial value.
Where can they be reached. Target market will be reached through word of mouth cyberspace media and cover stories made by the local newspapers and television stations. Invite local press for tour of the facility and also meet the figure head of the company.
They will be able observe activities in action. Special target market demographics. Census report the counties combined population was nearly 3.8 million. The ethnic breakdown is 42% White 38% Latinos 8% African Americans and 12% Asian Indians.
Why they are the special target market. According to the American Medical Association Latinos and African Americans are three times likely to be obese physical observation can prove this than their white counterparts. What qualifies them as members of the target market. Their wealth portfolio and spending power is growing.
They most likely do not have good healthcare insurance. They are not the intended target for gated communities’ development. They are the dominant casualties of cardiopulmonary disease diabetes and heart attacks. Because of their weight and despite being professionals they are ostracized in society and community with this concept will make them feel more secure and like they belong.
What will cause the target market to respond to the new marketing campaign. A video produced to induce emotions will be critical to the success of attracting legions of potential residents. Quality of life changes for those looking for something unique. Unbiased marketing that represents all ethnic groups.
How this project will benefit the target market. Improve quality of life for the entire family. How will this project benefit StoneGate Stakeholders. By improving the quality of life of residents this will increase property identity loyalty.
Lower the attrition rate of residents by reducing reactive decisions to move to new competitor’s property. Attract and maintain higher class of residents that are able to meet financial obligations. Increase revenue streams due to activities implemented and retention plan in place.
Purpose of the Marketing Plan. The marketing plan described below is generalization of how the new program would be introduced to the public and its potential impact on the Property and its’ stakeholders. Services Attributes. Wellness Program to increase property presence.
Internet Web –Site presentations. Leasing tours of the property. Poster Boards & Mini DVD’s Media brochures. Marketing Budget.
The marketing budget will be generated from the proposed unit rental increase and income from the programs implemented i.e. Guest Passes. Marketing Time Table.
Newsletter to current residents only alerting to amenities improvement plan. This will coincide with the acquisition stage of the Implementation Plan. Develop Teaser Poster of programs and display around the property.
This will be coinciding with the Human Resource Stage and Testing. Invitation to the kick off Poolside Parties at the start of summer. Residents may invite guest to this grand opening implementation.
Hosted activities include health presentations facility tour health food music etc. This activity will be taped to be used release signed in future marketing. Professional video of property and its main theme "Quality of Life".
Marketing plan will be put into action. Follow up Scenario Marketing Plan. When potential client enters the office inquiring about rental vacancies the client will be shown promotional video of the property new "Quality of life" theme via desktop monitor at the leasing consultants’ desk.
This will induce interest and anticipation to see the property’s in its full glory. Standard leasing protocols will continue with the tour of all facilities. Because there will be activities during business hours potential customers will see the value added services immediately. Any questions regarding the activities will be answered by the professional value selling lease consultant during the tour.
Upon leaving the facility the client will be given an elegantly designed brochure containing mini DVD Rom. This package features the promo video and interactive information regarding the property playable on compatible computer or home DVD system. Event schedules will also be available on the DVD and Website.
Studies have shown customers are twice as likely to look at DVD than read paper brochure with attached price sheets. Brochure will feature comparative chart designed to show value added services. Dynamic Flash Internet Web Presentation searchable in major search engines.
Effectiveness of the marketing program will be analyzed by the amount of units rented to qualified clients who has seen the program or made tour of the facility. Property’s residents’ retention benchmark. Waiting list due to demand. Residents’ feedback analysis conducted.
We have compiled below list of apartments that we performed field analysis. Our comments are in regards to physical observation of the properties. Property Name Lo Rental Hi Rental Unit Area Total Units.
Competitive All amenities and prime location. New & very Competitive in terms of overall quality marketing plan niche market and ambience. While most of the properties boast the same amenities; they all including StoneGate lack specific theme.
The property with the only visible design to integrate theme property is Broadstone Overlook. This particular property boast bike trails gym Jacuzzis grills etc. but with the flair to create adventures for its’ residents. The property surrounds its own personal mountain bike trail which it intends to loan bikes to its residents for treks.
We believe from questioning the consultant that the property is focusing on the 30 45 age range with household income over 60k. This is based on an analysis of the brochure’s requirements to rent unit at the property. Given the cost of the units we anticipate this property to cater to professionals who want to enjoy an activity base community living in secure environment.
The following is our hypothetical implementation plan for the project divided into phases. Each phase of the project is part of an overall matrix designed to achieve the intended results. Constraints improvement opportunities & circumstances may delay or speed up project implementation timeline. These are our projections for the project if implemented and with the recommendations.
Thorough investigation See Competitive Analysis has shown that even if the StoneGate property were to increase its’ rental prices in the increments suggested it would still be significantly lower than it’s primary nemesis Broadstone Overlook See Competitive Analysis but offers more benefits. The goal of the project as stated before is to increase unit occupation while concurrently maintain the current residents’ satisfaction and decrease attrition rate due to competition. We feel the programs will offer lifestyle that is marketable across race boundaries and also social status.
The current trend of professionals moving out of the Los Angeles area and into less densely populated areas gives us the opportunity to offer something different and attract the more ‘elite’ post baby boomers. It also foreseeable that Riverside County will one day become as congested as Los Angeles and an all inclusive property would be in high demand. Finally the theme concept will also provide strong competition for commercial fitness centers members. It is in our vision to be able to attract these health enthusiast to this property where they can enjoy world class living and still maintain healthy lifestyle without ever leaving the gates.
Chaic Enterprise is exceptionally qualified to implement the proposed project. This is demonstrated in the following ways. Over twenty years experience in the wellness industry domestically and internationally. Qualified team with members specializing in critical areas for successful implementation.
Team Members all have multiple experiences in business start ups management and approach each project with an ownership mentality. Some members of the team have stake in the property as current residents and therefore have realistic vision of what will be successful program. The Project Manager Luchano was part of military base health & safety improvement project at the Portsmouth Naval Shipyard.
The results from this project reduced job related injuries attrition rate of DOD contractors reduced health insurance cost increased productivity levels and was instrumental in the oldest US Naval Shipyard surviving base closures in 2004 2005. With his business background experience in the Quality Management field and many years experience in the wellness industry Chaic Enterprise is guaranteeing high quality results that return on investments. The principal owner Brett Herman of the property StoneGate At TownGate would like to.
Reduce Unit Inventory & Reduce Attrition Rate Chaic Enterprise can accomplish this by implementing new marketing strategy designed to invoke emotions and desire for quality of life change. Chaic Enterprise solution of wellness program image rebranding will accomplish this through quality services that lead to satisfaction and loyalty to the property. Increase Revenue Chaic Enterprise will accomplish this by implementing wellness program designed to WOW the residents and build income streams for the property.
Over the last few weeks while preparing this proposal we have performed extensive field analysis of properties we identified as "Qualified" for such program in the Riverside & San Bernardino Counties. Our data confirmed that there are currently no competitors integrating such program at any level as of yet. We do feel that StoneGate At TownGate should implement the large scaled project we are proposing. This will set the property apart from its competitors with the knowledge that it will be recognized as the originator and the one to benchmark.
And because this project has been thoroughly researched for optimal opportunities it will be implemented with focus on quality. Our implementation process is designed in mind to ensure "Copycat" competitors will not meet what will become new industry standard in gated communities. Chaic Enterprise will maintain management over the twenty staff members who will be assigned to your specific project.
Chaic Enterprise is dedicated to building health awareness through strategic partnership with Property Management Corporations. This mission is essential to the well being of individuals and corporate communities abode throughout the United States. At time when the epidemic of obesity ostracizes those who suffer its negative impacts we are primed to use unparallel implementation strategies to enrich the lives of our communities.
Chaic Enterprises operates with strong emphasis on quality of their services and results driven versus the quantity of clients they can amass.
Integrating Health Awareness In Communities. The following is sample of our proposed continuous improvements in building brand awareness for your properties. Centralized marketing for the wellness programs.
Nationalize the corporate brand through its’ own media magazine developed in house. Pre qualified incentives for residents relocating to choose one of the company’s properties if in the vicinity of the destination point. Current residents have access to all activities within the corporate owned properties. We would expand on the benefits of our ideas and how they would be implemented in future discussions.