Gateway Property Management - Business Consulting Project

Project Details

Project Client: Gateway Property Management
Project Description: Property Update Project
Students: Adam Taylor, Kristin Gill, Joseph Wierenga
Term: Spring 2015
BCIT Program: Business Management
The purpose of this Business Consulting Project was to present the Gateway Property Management with information on a subject property in Richmond that would enable intelligent pricing decisions and research upgrades that would increase the profitability of the building.

Gateway Property Management manages commercial and residential properties across BC. The subject property was unique in that it was the only property that Gateway Property Management managed in the City of Richmond.

The 10 week project was split into three components; determining the target market through demographic research, researching competitors through first-hand observation, and compiling a list of upgrade options. After researching demographics and gathering competitor data through in-person visits, the subject properly was ranked in competitive matrix compared to its competitors. Through analyzing the data collected on both the target market of the area and competitors in the rental market, recommendations were made that presented the client with the opportunity to realize $60,000 profit over the next six years.