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InsightsPre-makeover checklist for your investment property #1
By The Makeover Guys | 16 Jul 2018

Hello everyone!

Before you spend a mini fortune on that designer sofa that would look so nice in your new condominium, it's best to ask yourself a few questions. It happens to the best of us: Where we allow our emotions to take over our logical senses. In our next posts, you will find a series of questions worth asking yourself prior to your makeover to help you with your decision making. Hope you'll find it helpful!

Let's start with question number 1.

Who is your target market?


PROFILING, PROFILING, PROFILING


When you're planning your interiors for rental properties, it's extremely important to do it based on your potential customer profiles . The location of your property may give you an idea of the type of tenants to expect. For example, properties close to universities and colleges would attract students as opposed to properties in the city centre that would mostly catch the attention of expatriates instead. The needs and expectations would vary vastly between these profiles.

UNDERSTAND YOUR CUSTOMERS' BUDGET


We also find that a research on the market rental rates assist in setting benchmarks. By doing so, you'd be able to gauge affordability levels which will then help you get a sense of who your potential tenants are. As long as you plan your interiors to provide what your target tenant pool really needs (with an extra touch of that wow factor of course), you'll have a unique selling point to win all other units fighting for the same tenant. Always remember, wow factors and furniture preferences differ for different profiles. Identify who they are first before deciding what to do for your units. Have fun investing and differentiating your units!

On that note, here are some pictures of a unit we recently completed. Any idea who the target market was for this one? Have fun guessing and enjoy the pics!



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