MATT TAPLIN JLL GENERAL MANAGER

As JLL’s Smith Collective General Manager, Matt Taplin describes his company’s role as both leasing agents and precinct managers of Smith Collective in the Gold Coast. He reflects on the way the precinct’s design uniquely responds to the scale of the site, while also offering residents an intimate community experience. ARM sat down with Matt to discuss the evolution of Australia’s first and largest BTR development, and the responsibility of asset owners to sustain long-term tenure.

ARM: What do you identify to be Smith Collective’s key offerings that make it unique in the BTR market?

Matt Taplin (MT): I think it's a combination of things that make Smith Collective unique in the market.

Its striking aesthetic creates an uplifting atmosphere across the precinct, and this is complemented by on-site retail, health facilities, and cafes informing the community culture. Residents feel like they have everything they need right at their doorstep. This is important in winning tenant loyalty and therefore long-term tenure.

Its scale is another defining attribute of the site. While this may not be the first thing that appeals to tenants, we do receive a lot of feedback about the sense of space and openness at Smith Collective, particularly in regard to how the apartments and amenities are laid out across the site. Security is also an important selling point for Smith Collective. The precinct has on-site security around the clock, who are also available to answer a lot of afterhours queries, and support residents wherever needed. www.smithcollective.com.au

ARM: How do Smith Collective’s amenities reflect the lifestyle on the Gold Coast and anticipate tenant needs?

MT: Smith Collective’s amenities have been designed to really create that sense of relaxed community. The pool, the gyms, the open leisure spaces really speak to the site’s geographical location.

Each apartment lot has been designed in such a way that a pool, gym, and other fitness and wellbeing facilities are enclosed within. This strategic design solution creates a sense of micro-communities within the larger site, and this is a social highlight for many residents.

We have also recently added a community hub called ‘Homebase’, which is like a community hub housing a lending library of kitchen and maintenance equipment that tenants can borrow at their leisure. It's also an area where we can host classes, events and gatherings for residents. These communal spaces outside of the direct apartment lots make life at Smith Collective feel that little bit more community focused.

ARM: What are some key statistics around tenant demographics that Smith Collective is attracting?

MT: Around 45 per cent of current residents are aged between 20 and 35, this reflects the location of the site in proximity to employment and education hubs. Just under 20 per cent of the residents are students, given Griffith University is right next door. Around 25 percent of residents work at the neighbouring hospitals too. These figures reflect how the location of a BTR directly influences its demographic composition.

ARM: What has been the overall tenant feedback about quality of life at Smith Collective?

MT: Residents often tell us how well the asset has been designed. There is also great feedback about how pet-friendly the precinct is, with easy access to off-lead dog parks and leisure spaces where the whole community enjoys gathering.

Like any residential offering, tenants will respond if you keep the community clean and well maintained. That's something we've recognized very early on and our attention to detail in maintenance is always a priority. We work very hard to present Smith Collective in such a way that not only attracts good tenants but keeps them there for a long time.

We note that the surrounding precinct is somewhat restricted in its additional parking offerings however we do see far greater use of the e-bike rentals and the G-Link light rail which is alleviating that pressure somewhat.

The feedback that we like the most is the way that residents feel a part of a community, we love the way that they share and support each other - be it helping look after each other's pets, running errands or getting together for exercise together.

ARM: Why do you think people choose to live at Smith Collective rather than the usual ‘Mum and Dad’ investment flat around the corner?

MT: I think people feel more of a sense of permanence in a rental community like Smith Collective. Renting can be difficult and unsettling for some people and people might not have felt that they have had the opportunity in the past to ‘put down roots’ in the usual rental process.

We try to emphasise the idea that when tenants choose to live at Smith Collective they don't have to worry about the landlord kicking them out because they’re selling without notice. It's just more of a permanent feeling which we try to further promote through our focus on community events and gatherings across the precinct. I suppose there is more of a feeling of belonging than there is in other apartment rentals.

ARM: Is it then accurate to say that security of tenure leads to this ultimate sense of community at Smith Collective?

MT: It’s not the only factor contributing to a sense of community but it’s certainly a major reason that tenants stay with us for so long. We know that you still have to present a clean, modern apartment that feels safe and secure if you want your tenants to stay long-term.

The apartment offering also has to be priced right as well which is another factor in maintaining tenants over the years. Through all of Smith Collective’s marketing and messaging we aim to emphasise to residents that we’re not landlords just doing this for the short-term and looking to move onto something new tomorrow; we’re here for the long haul and we want them to do so too.

We know that tenant turnover is a fact of life but we monitor this closely to make sure that we are providing the right balance. We work hard to make sure we don't have the vacate rate increase for good financial reasons. Amenities and community events aside, location is still a key factor influencing a tenant’s decision to stay.

Smith Collective is within walking distance to transport, healthcare facilities, cafes and restaurants and we also have a supermarket on site. You can’t underestimate how valuable the convenience of these things are for tenants.

ARM: How do you think the design of Smith Collective has been received by tenants?

MT: Smith Collective is bold in design, and it really makes a statement. Its striking use of colours gives it that ‘wow’ factor. Residents reflect that it feels vibrant and not mundane, which is really important in setting the tone for the whole community.

The way the apartment lots are divided up around central points also works for a lot of people. It integrates a smaller, more intimate community experience into the larger scheme of the site. This means the scale of the site doesn’t feel overwhelming for residents.

ARM: We are now working on generation two and generation three of BTR developments across Australia. What do you think designers and asset owners should learn from Smith collective?

MT: I think the key thing to keep in mind is the profile of the target market that will provide the best returns to the owner. This is a unique proposition dependent on the location and scale of the development, each development will have the opportunity to put a different emphasis on the ‘optional’ design focus. The important part is to make sure that the target market will respond accordingly and will be willing to pay a premium for those differentiators.

That said, the core elements don’t change too much - everyone values space and privacy, a sense of security and convenience. Parking, storage, parcel delivery, energy efficiency and community spaces often require more emphasis than has traditionally been given if the rent premium is to be achieved. Having a pet is very important to many people, if you wish to keep residents for the long term you need to consider their needs too.

Our success has been built around making sure that we keep the physical surrounds well maintained, by focussing on developing our community feel and by making sure that we communicate well with our owner and our residents alike.

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