New wave technologies like artificial intelligence, cloud based software and ‘everything online’ transactions are changing the way we live our lives. For the real estate industry, this means lots of opportunities to do things better. However, it can also present a threat to businesses unwilling to adapt with the times.
A major tragedy in the UK this year saw 71 people perish in the Grenfell Tower apartment block fire. Because of this dreadful event, building safety standards have been under the microscope around the world. If you are a strata member or property manager, it is important to understand the responsibilities of a strata when it comes to multi-dwelling buildings. Fire safety in Australian buildings The fire in London prompted wide reviews of fire safety in Australia.
Nestled in the heart of Melbourne, a vertical community known as ‘The Commons’ is redefining the idea of apartment living. Several years ago, the developers behind The Commons had noticed how urban Melbourne was evolving from a village feel to streets of overpriced, sterile apartment blocks. Residents were crammed into tiny quarters designed with only the developers’ profit margins in mind. Despite living on top of other people, interaction was at a minimum. To counter this stark way of living, The Commons was created.
If you attend any marketing seminar, workshop or webinar you will hear the same message - to define your target audience, create a niche. Focus on delivering your message to this group and you will have success.
In the competitive world of real estate, there is often an approach of taking what you can get, however this doesn’t mean the rules of marketing don’t apply.
A new form of leasing agency is on the rise, proving to be a potential threat to the traditional model of managed properties. Known as leasing rights agencies, these can be found in large scale apartment complexes managed by companies like Meriton. With dozens or even hundreds of apartments, it makes sense to have a permanent on-site building manager, or even two or three. As well as looking after the building and grounds, these managers are able to act as leasing and selling agents. Because they are on site, they make it easy for owners and tenants to sign up.
Download our guide to everything you need to know to prepare and sell your rent roll to get the best value.
