How Kirin Group transformed a busy owner’s underperforming apartments in New Minas—nearly doubling its value in just over two years.
When Mr. Jonhston, a busy Halifax-based investor, purchased this 8-plex in New Minas (Annapolis Valley) back in October 2022, he intended to transform it into a strong, cash-flowing investment.
However, working full-time left him little bandwidth to handle day-to-day management tasks, let alone drive to New Minas for every maintenance issue or tenant concern. Almost half the units were outdated, and rents across the board sat well below market averages.
the Aalders 8-plex presented huge upside but demanded a cohesive plan to modernize units, align rents with local demand, and keep everything on schedule. That’s where Kirin Group came in.
1) Assessment & Tailored Proposal
Right after signing the management agreement, our team visited the property, inspecting each unit’s condition, reviewing lease details, and noting exterior issues like dated siding and neglected landscaping. The core problem was clear: no significant renovations in years and rents well below local market rates.
2) Leveraging Institutional-Grade CMA
Instead of guessing new rent figures, we employed our institutional-grade Comparative Market Analysis (CMA) to forecast each unit’s post-renovation rent level. By analyzing comparable properties, local vacancy rates, and unit amenities, we pinpointed exact price targets that balanced maximizing income with minimizing vacancy.
3) In-House Renovation Efficiency
Uniquely, Kirin Group works hand-in-hand with our sister construction division, Helio Urban Development, eliminating the headaches of hiring and coordinating multiple third-party contractors. Over a 9-month main renovation period, we:
To avoid dropping the complex’s occupancy too sharply, we phased the interior work, updating a couple of units at a time. Whenever a newly renovated unit was ready, we immediately listed it at the CMA-determined rent. Over the course of 2023, five units underwent transformation and re-leasing; by the end of 2024, three more turned over naturally, resulting in a near-total rent reset across the building.
Rental Income Growth from October 2022 to December 2024
Eight units together collected $9,583 total per month. Below is the distribution of rent across all units:
| Unit | Before (Oct 2022) | After (Dec 2024) | Rent Increase |
|---|---|---|---|
| 1 (2-BR) | $1,050 | $1,400 | +$350 |
| 2 (2-BR) | $1,050 | $1,400 | +$350 |
| 3 (1-BR) | $900 | $1,200 | +$300 |
| 4 (1-BR) | $925 | $1,200 | +$275 |
| 5 (2-BR) | $1,150 | $1,500 | +$350 |
| 6 (2-BR) | $1,150 | $1,500 | +$350 |
| 7 (2-BR) | $1,100 | $1,450 | +$350 |
| 8 (2-BR) | $1,258 | $1,682 | +$424 |
$600K in additional equity beyond renovation costs
Many landlords struggle with mispriced rents, tired interiors, or just not enough time to execute renovations—leading to stagnant returns. The Aalders 8-plex demonstrates how Kirin Group’s all-in-one approach can rapidly boost a property’s income and overall value
From day-to-day management and rent collection to full-scale renovations and re-leasing.
No more guesswork—our rent analysis matches unit quality to true market demand.
Our sister construction division means no third-party GC overhead, no juggling multiple crews.
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