The Service

This assignment concerns promoting a specialist apartment fit-out service for the rental market in Riga.

When an investor buys a new apartment in Riga, they often receive a basic-finished or semi-furnished unit. They want to start generating rental income as quickly as possible. However, transforming that apartment into a comfortable, cohesive, and tenant-friendly home takes considerable time, expertise, and careful sourcing  - resources that many owners simply lack.

 

The service goes beyond merely assembling the basic fixtures, furniture, and household essentials a tenant would expect. Its core purpose is to make an apartment genuinely attractive to prospective tenants, through considered decisions about layout, lighting, colours, textures, and finishing details, balanced against the durability and longevity that a profitable rental business demands.

 

The result is an apartment that lets quickly, at higher rates, and holds its condition over time. Well-fitted properties of this kind typically do not remain vacant for more than a month and keep their appeal across multiple tenancies.

 

The business draws on extensive hands-on experience in this field and is currently being developed as a standalone offer for property owners and investors in the Riga market.

 

Customer Journey

Stage 1 — Intent

1. Decision to buy a property

Stage 2 — Framing

1. Defining requirements

Stage 3 — Search

1. Market search
2. Shortlisting

Stage 4 — Inspection loop

1. Viewing
2. Assessment
3. Adjustment of requirements

Stage 5 — Commitment

1. Decision to buy

1. Transaction process

Stage 6 — Transition

1. Handover

Stage 7 — Reality

1. Renovation / fitting out / rental preparation

 

Most content in the market covers:

• stages 2–5

Almost nobody covers Stage 7 properly. That’s exactly where my business lives.

 

Where does the service fit?

Step 4 — Assessment (CRITICAL)

At this step, buyers typically ask if an apartment is “good”. This can be reframed by introducing an additional criterion: how easily the property can be prepared for rental use. This shift influences selection decisions before purchase.

 

Step 8 — Decision

At this step, buyers may hesitate about “what's next”. Instead, they are provided with clarity and predictability. The decision is thus unlocked.  

 

Step 11 — Renovation/fitting out/rental preparation

At this step, buyers often feel overwhelmed. With service and content, they gain structure and execution.  

 

Sites analysis

Homeriga.lv

Homeriga is a real estate agency specialising exclusively in new and off-plan apartments. Its clients are developers, not buyers, which means the agency earns its commission from sellers and has a built-in incentive to close transactions as quickly as possible and at the highest feasible price.

1. Why would Homeriga be interested?

A significant portion of Homeriga’s buyers are rental investors—individuals purchasing apartments to generate income through short- or long-term lettings. This type of buyer faces a specific concern: the period between receiving the keys and the apartment generating income. This concern is heightened for the large number of foreign investors, as fitting out an apartment requires the owner's presence almost continuously. b

 

Currently, Homeriga has no answer to that anxiety. Once the transaction is complete, the buyer is left to manage everything alone: tackling renovation decisions, finding contractors, sourcing furniture, and handling all the time and costs involved. A fit-out service, even one provided by a specialist partner instead of the agency itself, bridges that gap. It makes Homeriga more valuable to exactly the buyers they already serve, those who most need support at this moment.

 

In short, Homeriga would be interested because the fit-out service solves a problem their buyers face right after purchase, and reflects well on Homeriga.

2. What’s in it for them?

There are three concrete commercial benefits for Homeriga:

• Faster buyer decisions.

One of the most common reasons rental investors hesitate before committing to a purchase is the prospect of managing a renovation or fit-out themselves. If Homeriga can offer a credible answer to the question “but then what?”  - a clear path from raw apartment to tenanted property  -  that hesitation is reduced. Deals that might otherwise stall are more likely to close.

 

• Higher transaction values.

A furnished, rental-ready apartment commands a higher sale price than a raw one. If Homeriga can present a turnkey option -  apartment plus furnishing package -  the total transaction value increases, benefiting both the developer client and the agency’s commission.

 

• Stronger client loyalty and referrals.

A rental investor whose apartment is earning income within weeks of purchase associates that success with the agency that made it possible. Satisfied investors return for their next purchase and refer others in their network. For an agency whose clients are by definition developers rather than individual buyers, building loyalty among repeat investor-buyers is a meaningful differentiator.

3. What kind of content on their site could promote this topic?

Homeriga currently has no editorial content on its website — no blog, no articles, no case studies. That is itself an opportunity. The following content formats would fit naturally and promote the fit-out service without feeling like advertising:

·      Case studies

A case study titled “From handover to the tenant in eight weeks” is the single most persuasive format for a rental-investor audience. It translates abstract notions into concrete, tangible results that they can appreciate.

Real apartment, on a handover day  => What it looks like when offered to tenants => What it costs => What it earns.

This content could live on the website and be repurposed as Facebook ad creative. It will influence p.2 of the Customer Journey early on.

·      A practical guide for rental investors

A short article,  “5 things to do the week you receive your keys”, positions Homeriga as an advisor who stays useful after the transaction. Fit-out service is one of those things, along with other practical tasks like signing utility contracts. This format builds trust, even if not selling directly.

·      Facebook advertising with audience targeting

Currently, Homeriga runs several Facebook ad campaigns without audience targeting. Targeting a specific segment of rental investors would yield much better results than untargeted traffic. The main message is “from purchase to rental income”. The fit-out service is the hook that adds relevance beyond just the transaction. 

·      An ROI calculator

A simple interactive tool on the website — “How much is an empty apartment costing you?” — would demonstrate, in euros, the cost of delay between purchase and first rental income. Even a rough calculation (estimated monthly rent × months empty = lost income) makes the case for acting quickly on the fit-out. It keeps the user on the Homeriga site longer than a standard listing page would.

 

This content primarily supports the assessment and post-handover stages of the buyer journey, where uncertainty is greatest, and delays have the greatest impact.

 

Importantly, this content does not primarily promote the fit-out service as a standalone offering; rather, it uses it to reduce friction in the purchase decision and improve post-purchase outcomes.

 

Note on the relationship model.

Homeriga’s clients are exclusively developers, not buyers, so promoted content must benefit developers. Framing a fit-out partnership as a value-added service that helps developers sell apartments faster and at higher prices is more likely to resonate with Homeriga’s client base.

 

Bonava Latvija (www.bonava.lv)

Bonava Latvija, an affiliate of the Swedish group Bonava, is a leading residential developer in Latvia, specialising in project development and management, with construction outsourced. Their annual sales, in terms of apartments sold and revenue (available for 2023 only), have placed them at the top of the Latvian market for at least three consecutive years. 

 

The properties they develop are classified as "standard," which firmly places them in the market for investor buyers. These types of properties are the easiest to let. This is precisely why the fit-out service is a natural fit for Bonava, specifically, not just any developer.

 

1. Why would Bonava be interested?

Developers’ main goal is to sell apartments faster, at higher prices, and with fewer unsold units at the end of a project. My service directly supports this by turning a basic “shell” or semi-finished apartment into a ready-to-rent asset that strongly appeals to rental investors,  one of the biggest buyer groups for new builds in Latvia.

 

2. What’s in it for them?

In short, the service is a sales acceleration tool.

Here are the concrete benefits for developers:

• Faster Sales and Shorter Selling Periods – improved cash flow and reduce costs.

Many buyers (especially foreign or hands-off investors) hesitate to buy a raw or basic-finished apartment because they dread the hassle, time, and risk of renovation/fitting-out after handover.

• Higher Selling Prices — Better Margins.

Even if a partner, rather than the developer, handles the finishing, Bonava can market "turnkey packages" or "ready-to-rent options," thereby increasing the overall transaction value. This also accelerates the sales cycle, directly reducing the risk of unsold units at project close.

• Reduced risk of unsold apartments.

Unsold apartments accumulate financial cost to the developer - loan interest and ongoing maintenance. Professional finishing makes units sell faster, improving cash flow and project profitability.

• Stronger Appeal to Rental Investors

The main priorities for rental investors are low vacancy rates, quick occupancy, and long-term durability. The professional fitting service delivers exactly that: apartments that rent out faster (often within a month), are better maintained, and require less upkeep over the years. This makes the developer’s project more attractive than competitors offering only basic finishes.

• Enhanced Marketing and Differentiation.

In a competitive market of newly built standard properties, developers can set themselves apart by offering “move-in-ready for rental” or “investor-friendly turnkey solutions.” This approach positions their project as more premium and attractive to investors. 

• Enhanced reputation and customer loyalty.

Happy customers who start earning rental income quickly tend to share positive feedback, recommend the project to friends, and consider investing again in future developments. This helps build the developer’s reputation as a trustworthy investment partner, rather than just a builder of empty shells.

 

3. What kind of content on their site could promote this topic?

• Banner – capture intent at the top of the funnel

On their site, I’d add a banner advertising this new service, specifically to attract the target customer segment. It will facilitate the selection process by removing the tension, “What’s next?” down the funnel.

• Case studies - reduce the perceived risk.

Their site features clients’ stories (https://www.bonava.lv/iedvesmai/manasmajasbonava). That would be an ideal place for two to three case studies, presented as clients’ stories. They will feature “before” and “after” with visuals. Such case studies are designed to reduce the perceived risk.

• Buyer’s guide – soft conversion

This is a rather concise document that lists all the steps necessary to take before the apartment is ready for rent. This guide will have a link to the blog (immediately below). Such a guide will provide valuable guidance to the buyer.

• Blog – build conviction

That would probably be the most important part. It needs to educate the buyer. The blog will elaborate on all essential elements of the interior in relation to the goal – ROI, for example, what kinds of flooring are available on the market, and which are suitable for the purpose. Should you paint the walls or cover them with wallpaper? What kind? Why? What type of upholstery to use? For which pieces of furniture? How to arrange windows? And many more. 

• ROI calculator – trigger decision

The calculator needs to quantify lost rental income from delays and compare it to the cost of a turnkey solution, clearly demonstrating the net ROI advantage. This will shorten the decision cycle.

 

City24.lv

City24.lv is an aggregator of properties for sale and rent.

It is a two-sided marketplace:

• Supply side: real estate agents, developers, landlords
• Demand side: buyers and renters

 

Their core business model: aggregate listings => attract traffic => monetise the supply side.

 

It has a “Real Estate News” section with occasional articles, market reports, project news, and practical tips (“padomi”). However, there is no dedicated blog or regular customer stories section like Bonava has.

 

There are no blog posts or customer stories on the site. However, every listing includes links to a range of partner services, such as cleaning, refurbishment, furniture transportation, an architect, interior design, and legal consultation.

 

Their weaknesses include low differentiation, reliance on agent behaviour, intense competition from generalist platforms, and quality issues, such as outdated content remaining on the site. However, their main risk remains commoditisation. Adding a distinctive post-purchase service layer is one way City24 can differentiate itself from generalist platforms.

 

1. Why Would City24.lv be interested

City24 is the primary discovery platform for new apartments. Many visitors are rental investors who, after viewing listings, face the same post-purchase challenge: how to turn a basic-finished apartment into a tenant-ready home quickly. Adding practical content or service recommendations on rental preparation and professional finishing would help users move from browsing listings to taking action, keeping them on the platform longer.

 

2. What Is In It For Them

City24 will likely promote the service (any service) only if it increases their

• revenue,
• retention, or
• listings supply.

 

For a platform like City24, here are the levers:

• More listings

More apartments = more paying agents/developers

• Faster transactions

Faster rent/sale = happier agents = higher retention

• Higher monetisation per client

More services sold to the same agent/developer

• Better user experience

Better listings => more traffic => stronger market position

 

Outcome:

Investors who feel confident about the post-purchase process are more likely to commit to a purchase, resulting in more listings and increased activity on the portal.

 

Adding practical content or service suggestions on “rental preparation” and professional finishing would help

• convert users by moving them from browsing listings to taking action (more and faster transactions). Also, it
• keeps them engaged on the platform for longer, enhancing their overall user experience.

 

Adding the service

• enhances the platform's value by expanding the range of helpful partner services.
• Strengthens relationships with developers and agencies who advertise new projects on City24.
• Improves user satisfaction and loyalty - visitors perceive City24 as a complete resource, not just a listing board.

 

Not-so-obvious benefits:

• Enhancing apartments’ readiness for rent not only accelerates sales transactions but also raises the number of higher-value listings available for rent at a later stage.
• Many listings fail due to poor interiors, bad photos, and a lack of identity. The service enhances visual appeal, click-through rate, and ultimately, conversion. This directly boosts platform performance metrics. 

 

3. Where And What Content To Put On The City24 Site

It appears that the most suitable and practical locations for placing the desired content are as follows: 

1. Viewing a listing

1. Deciding to contact
2. Evaluating investment
3. Comparing options

The content should change the decision outcome.

 

Since City24.lv only lists renovation providers (directory format) and doesn’t push editorial content, it means:

• They don’t want to behave like a media company
• They monetise via utility, not storytelling
• Anything proposed must feel like a conversion tool, not “content”

 

Therefore, no blog posts, but potentially embedded, transactional micro-content within the user journey.

 

Real Estate News section:

Practical guide article  “How to prepare a new apartment for renting in 2026: from handover to first tenant” (includes timeline, costs, and the benefits of professional turnkey finishing).

 

Listing page

This is where intent is highest.

What to place

1. Contextual upgrade module,

“Turnkey finishing & furnishing for rental investors” as a new category in the partner services links that appear on every apartment listing.

Optional:

With:

• 1 visual (before/after)
• 1 number (rent uplift or time-to-rent reduction)
• CTA: “Make it rental-ready”

Photos: empty apartment, fitted apartment.

Metrics: rent before vs after, days on market

 

2. “Contact agent” / inquiry step

Right after the user expresses interest:

What to place

• “Planning to rent it out? Get it ready in 6 weeks.”
• “We reduce time-to-rent by X%”

 This is perfect timing: the user is emotionally committed and is thinking, “What's next?”

 

3. New developments pages

What to place

“Turnkey rental package available”

With a fixed price, timeline and expected rent

What to change

Instead of “Apartment furnishing service” - “Increase rent by 15–25% and reduce vacancy” (financial outcome)

 

4. Section (right column or below photos):

“Make this apartment rent-ready”

• Estimated rent (empty): €720
• Estimated rent (furnished): €860
• Time to rent: ↓ from 45 => 18 days

[ See how it looks furnished ]
[ Get turnkey fit-out ]

 

5. Rental readiness score

Each listing shows:

• time to rent
• estimated setup cost