Calgary-based Mainstreet Equity Corp (TSX:MEQ) has just added a portfolio of rental apartments on RentSeeker.ca, a Toronto-based online marketing firm that advertises and syndicates professionally managed rental properties across Canada.
Michael Birklein, Director of Marketing & Communications for Mainstreet Equity Corp says “RentSeeker’s website layout, listing features, user-friendliness and their active presence and use of social media were all considerations in our decision to add our portfolio of apartments for rent onto their site.” He went on to say that 2011 and 2012 promise to be an exciting year for the company in terms of branding, marketing and expanding its web presence.
The CEO of RentSeeker.ca, Chaim Rivlin, commented “Mainstreet Equity Corp and its management team are leaders in the Canadian apartment industry. Adding Mainstreet Equity Corp’s portfolio of apartments on RentSeeker.ca has been an incredible boost of confidence in our ability to attract the best in the business.” RentSeeker makes full use of social media, 3-D floor plans and property videos.
Mainstreet Equity Corp was established in 1998 and is a publicly traded (TSX: MEQ) residential real estate company in Canada. It has grown its initial portfolio of 272 units worth approximately $17 million, to its current portfolio of 7,362 units which are worth approximately $831 million at current market values. The company purchases underperforming properties and renovates them to a branded standard, allowing them to be repositioned within the market giving greater rental returns. It currently owns and operates properties in Surrey and Abbotsford in British Columbia, Calgary and Edmonton in Alberta, Saskatoon in Saskatchewan and in the greater Toronto area in Ontario.
The company focuses on the acquisition of midmarket multi-family properties which typically have less than 100 units. The properties are frequently in poor condition and are often mismanaged, with rents below market values attracting tenants with weak credit. Renovations are often extensive and include the installation of energy efficient appliances, and once completed the rental suites have features which attract more creditworthy tenants, giving increased rental income and less likelihood of vacancies.