Marketing Plan for Townhouse Rental in Adelaide: CPPDSM4013A

This report outlines a comprehensive marketing plan for the rental of a townhouse located at 4/63 Symonds Place, Adelaide. The plan, developed for Harris Property Management and the landlord Tom Budarick, targets families with 4-6 members, specifically those seeking a high-end lifestyle. It details the property's features, including three bedrooms, two bathrooms, and modern amenities, and proposes a marketing mix encompassing product, place, promotion, and price strategies. The promotion strategy leverages both offline (flyers, networking events, window displays) and online (email brochures, website, social media, and performance-based advertising) channels. The pricing strategy employs an incentive-based approach, offering a discount in the second year to attract long-term tenants. The report includes a detailed cost breakdown, a seven-week schedule, and an analysis of an example advertisement for the property. The advertisement's design, content, and language are examined to assess its effectiveness in attracting the target audience, emphasizing the property's key features and location.

CPPDSM4013A Market Property For
Lease

TABLE OF CONTENTS
ASSESSMENT TASK 3.................................................................................................................1
ASSESSMENT TASK 4.................................................................................................................4
REFERENCES................................................................................................................................7

ASSESSMENT TASK 3
1. Information on the property
i. Address – 4/63 Symonds Place Adelaide
ii. Description – This is a contemporary designed and styled town home in a very sought
after area of Adelaide. There are three bedrooms with two bathrooms plus one garage
space that can accommodate 2 cars. The townhouse has quality fixtures, air-conditioning,
floor coverings and security systems.
iii. Rental - $2050 per month
2. Information on the landlord
i. Name – Tom Budarick
ii. Contact Details – 0433-691-974
3. Information on the agent
i. Name – David Henry
ii. Organization – Harris Property Management
iii. Contact details – 0435-943-473
4. Plan
i. Objectives
 To give 4/63 Symonds Place Adelaide on rent
 Negotiate the property to suit the objectives of both the landlord and the tenant
and seal the deal.
ii. Target market – The target market would be families having 4-6 members. To be more
specific, the distinguished location of the property makes it more appealing to the higher
class society of Adelaide. The cosmopolitan lifestyle provided by this elite location
include upscale boutiques, restaurants, shops and cafes and some really reputed
educational institutions (Quick, 2011). The best part is that the scope of the rental space
can be customized as per specific user requirements.
iii. Marketing mix
1

Product – The product in question is a residential space to be rented out for living
purposes. It spans an area of 3000sqm and also has a second level. The setting is semi-
furnished and fitted with complete kitchen and washing utilities, high-speed internet and
built in wardrobes. There are three bedrooms and two bathrooms. The master bedroom
comes with ensuite bathroom coupled with French doors to a patio. There is shining
timber flooring on the ground level with plush mocha carpeting in the bedrooms. The
house has been freshly painted.
Place – The townhouse is situated in one of the most distinguished and elite
neighbourhoods of Adelaide and as aforementioned is in close proximity to several prime
institutions. Space provides abundant natural light with breathtaking views overlooking a
park. Plus, there are many boutiques, cafes and restaurants in the vicinity. In addition to
this, it is near all facilities which are within walking distance.
Promotion – Referrals and leads will be generated through three main offline strategies.
The investment would be made in high-end print collateral like attractive flyers, brochure
and other marketing material which suggest potential clients the correct story about the
property. The design would be adaptable for digital use. A networking event will be
staged at the property which will help in connecting directly with potential tenants.
Window and display signs will be used to distinguish from an array of other properties on
the same block by developing an appealing banner, window graphic or monument
signage which illustrates pictorially what the property offers (Schmidt, 2013). The online
promotional activities of the plan include sending innovative digital brochures through
email; developing a customized website which is extremely user friendly; attracting
prospective tenants by liaising with bloggers, analysts, industry influencers, and 3rd party
journalists; performance based advertising; social media marketing; and online press
release (Blasingame, 2011).
Price – Unlike putting a property on sale, wherein low pricing helps attract potential
customers to give rise to a bidding war, pricing a rental property low is not likely to yield
a better price. There is still not any bidding war culture in the rental property market.
Hence an incentive based pricing strategy will be followed. Under this strategy, the rent
of the first year will be set reasonably high, and a discount of 2050$ will be offered for
the second year. The landlords do not like turnover and tenants, especially families
2

renting apartments do not seek pleasure in the process of moving (Financial Samurai,
2017). Such incentive of low rent in the following year is likely to produce better tenants
that are self-sufficed for the first year as they do not want to lose the offer.
iv. Costing – The main cost would be incurred in the promotion mix of the plan. It is
estimated to cost nearly AUS$20,000 which includes both online and offline methods.
v. Schedule – This marketing plan will manifest over a period of 7 weeks
Activities W
1
W2 W3 W
4
W5 W6 W7
Understanding the market
Identifying target segment
Conducting Marketing analysis
Developing communication plan
Building website
Deciding advertising budget and content
Creating milestones like talk points etc.
Measuring results (brand impressions,
clippings for PR initiatives, site visits and
leads produced)
5. Approval
i. Approved by Harris Property Management and Tom Budarick
ii. Signature
iii. Date – 30th August 2017
3

ASSESSMENT TASK 4
4
STUNNING TOWNHOUSE AVAILABLE FOR RENT
4-63 Symonds Place Adelaide
Beautiful City Town Home
$2050 per month
Available: NOW
Ideally located in the heart of the city, this semi furnished spacious townhouse boasts of three big
bedrooms, plus Juliet balconies.
Facilities:
 The modern kitchen with modern appliances including a dishwasher
 In built washing machine and dryer
 An open living room next to the kitchen which also opens out to a patio.
 Society has swimming pool, Wellness Centre, Gymnasium and a Concierge in attendance.
 Secured parking for two cars
Distinguishing Features:
Close to transport, Distinguished address, Secure parking, close to shops, restaurants and schools, balconies
Tour of this impressive residential property is highly recommended.
For more details, contact:
David Henry
0435-943-473
2 CARPARKS!! 3 BEDROOMS SEMI-FURNISHED
TOWNHOME IN ADELAIDE’S PRIME LOCATION

As highlighted in the advertisement, the title of the Advertisement is “Stunning
Townhouse Available for Rent”. Following it is a sub-title which effectively summarizes what
the property has to offer. By reading the title, the readers will understand that there is a
townhouse available for rent, and after reading the sub-title they will know the main features, i.e.
a number of bedrooms, un/semi/fully furnished, and facility of the garage. This typically sums up
what a tenant looks first in a house. The content that follows outlines its address and rent which
are the next important things a tenant seeks in the ad (Prandi, 2005).
The layout and design of the ad have been kept simple and straightforward with use of
subtle colours and font. Nothing has been done over-the-top. One picture of the property has
been added to give an idea to the readers of what the house is like. The features that emphasize
the strong points of the house have been highlighted in bold. This way the readers can directly
come to their point of interest.
The dwelling has been introduced beautifully. All keywords have been used to draw
immediate attention of the readers. Its location has been emphasized as “heart of the city”. This
connects well with the readers who do not want to live in the suburbs and have all the facilities in
their walking distance. Plus, a heart of the city location is deemed to be posh adding to their
status. The home has been described as spacious and with Juliet balconies. Any family that has
kids or even old people would prefer having a big home with sufficient open space (Bien &
Griswold, 2011).
The structure of the information is very well organized. It starts by stating the most
important things like address, rent, number of bedrooms. Then a one liner is used to describe the
property in a nutshell. Following that the main offerings and features of the townhome are listed.
They are not very descriptive and have been kept precise which is sufficient for the readers to
make a decision for a tour. Then the distinguishing features of the property have been
highlighted to make it stand out from other properties. Lastly, the contact number of the Agent
has been added (Rasmussen, 2013).
The use of language has been kept simple to have a subtle effect. No elaborate words
have been used which would make the advertisement appear complex. Adjectives have been
used where required, for e.g. to highlight the distinguishing features of the property etc. A
conscious decision has been made to abstain from using any metaphors or similes because they
take the attention away from the main thing being offered. It is believed that the features of the
5

property are sufficient in themselves to put it out on rent and there is no need for flashy words to
divert the attention (Portman, 2017). No questions have been posted and the entire ad is kept
simple to retain the essence of the property.
The vocabulary used for such genre is polished, and the same has been used in this ad.
The visual element is the picture of the living room of the property which gives an exact
reflection of how spacious and naturally lighted and beautifully fitted is the home. The
illustration perfectly complements the written text and even the layout of the ad. The tone of the
cited advertisement is informative and upbeat. This has been created by keeping the information
precise and to the point. Moreover, all the important questions that come in the mind of a reader
when thinking about a property ad has been aptly answered making it highly informative. The
implied audience is upper-middle and upper-class families because of the location and rent of the
home. This advertisement is quite effective in appealing to the audience because it caters to their
desires of living in a posh locality and reflecting their status.
6

REFERENCES
Bien, M. & Griswold, R., 2011. Renting Out Your Property For Dummies. John Wiley & Sons.
Blasingame, J., 2011. How to Lease Commercial Real Estate Space: Part I. Forbes. [Online].
July 18th. Available through: <https://www.forbes.com/sites/jimblasingame/2011/07/18/lease-
commercial-real-estate-part-i/#6ce3c5fd5457>. [Accessed on 30th August 2017].
Financial Samurai. 2017. A Pricing Strategy To Maximize Rental Income And Minimize
Turnover. [Online]. Available through: <https://www.financialsamurai.com/a-pricing-strategy-
to-maximize-rental-income-and-minimize-turnover/>. [Accessed on 30th August 2017].
Portman, J., 2017. Every Landlord's Guide to Finding Great Tenants. Nolo.
Prandi, M., 2005. The Unofficial Guide to Managing Rental Property. John Wiley & Sons.
Quick, B., 2011. Target your Market: Office. [Online]. Available through:
<https://www.calicomarketing.com/commercial-real-estate-target-market/target-market-office/>.
[Accessed on 30th August 2017].
Rasmussen, J., 2013. Vacation Rental Success: Insider Secrets to Profitably Own, Market, and
Manage Vacation Rental Property. Mango Media.
Schmidt, R., 2013. 9 Elements of Highly Effective Commercial Real Estate Marketing Plans.
[Online]. Available through: <https://www.propertymetrics.com/blog/2013/08/12/commercial-
real-estate-marketing-plan/>. [Accessed on 30th August 2017].
7