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Case Study: Rosedale Gardens Suite Hotel Success Case Study - Conversion Sales Program The Challenge: You're an apartment owner. It goes without saying that you would like to sell your income-producing strata-titled apartment building for the highest price. But when utilizing the income approach to value the sale price for selling, your entire building's price is often much lower than selling the units on an individual basis. However, to sell all of the individual units, you fear that additional traffic into and out of your building caused by showing tenant-occupied suites will create disruption and inconvenience to existing tenants. Many tenants would then serve notice and vacate their units, leaving you with decreased rental income. What do you do? The challenge is to sell your building for the highest possible price, but at the same time minimize disruption to tenants and maintain a satisfactory occupancy rate. The Solution: EWA specializes in selling strata-titled apartment buildings on an individual basis. We provide the property owner with the highest aggregate value, the least disruption to the existing tenants, and the maintenance of a high occupancy rate during the selling period. We have designed and implemented sales programs which minimize disturbance to existing tenants and give the tenants the first opportunity to purchase their own unit and/or another unit. We set up a sales office along with display suits and work hand in hand with the resident manager to facilitate a smooth sales program and the showing of tenant-occupied suits. Depending on the location and the type of conversion program, we will design our marketing program to reach the target market with the most effective motivation and urge to action. Our successful market conversions in Vancouver and the Lower Mainland include Alexandra Place, Carriage Lane, Creekside Manor, Fraser Mews, Hornby Court, King Albert Apartment, Lansdowne Manor, The Duchess, Westhampton Court and Westminster Tower. |
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