Multifamily Florida - Summer 2010 - (Page 9)

ASSOCIATIONNews MyRentComps.com Expanding Service throughout Florida FAA and several locals, starting with the Apartment Association of Greater Orlando (AAGO), now offer a free online market survey tool and free password protected apartment Web site to all property managers/owners in Lake, Orange, Osceola, Seminole, and Volusia counties. AAGO recently partnered with Orlando based MyRentComps.com to handle all of its online market surveys. According to Gary Scarboro, Executive Vice President of AAGO, “AAGO was the first apartment association in the country to offer this free service to all apartment owners and managers.” Now the owners or property managers from Daytona to St. Cloud/ Kissimmee can just go to www.aago.org, click the market survey button and log in to update their rents/occupancies and run a free market survey on up to 9 apartment properties surrounding their community. According to Ron Wenzel, President of AAGO and Regional Property Manager for Archon Residential Management, L.P., “Archon supports the MyRentComps.com program through the local apartment association here in Orlando and throughout the state of Florida.” Wenzel said the system is “very quick, easy to understand, user friendly, and an enormous time-saver. It provides information sharing opportunities about occupancy trends and rental rates in real time and not in weeks or even months.” Before using myrentcomps.com, Ron was using other industry reports which “were released well after the fact from various other sources. These reports are oftentimes outdated and not at all valid. In today’s market, rents are changing weekly if not daily. We need a reliable source specifically catering to the apartment industry to give us this much needed, up-to-date, and factual data. This data is not at all a guess or even subjective based on who you might speak to in the leasing center on any given day.” Ron adds, “with MyRentComps.com, we have been able to provide excellent direction for making intelligent decisions. We can also see trends whether they are positive or negative. We are then able to formulate appropriate plans or make necessary adjustments to remain leaders in both occupancy and in effective rates across the state.” He concludes, “It is also a great resource for underwriting new deals and or existing loans which, we may not have time to either call or shop in person. We are absolutely thrilled to be a part of and an active participant in MyRentComps. com statewide.” Bonnie Smetzer, Senior Vice President of JMG Realty, Inc., shares his enthusiasm. “JMG, as a company, supports the ‘MyRentComps.com’ program through the local apartment associations throughout Florida. For our Florida operations, we have taken the position that our properties will no longer give market survey requests over the phone and will direct callers for this information to the local apartment association where our properties are located. “We will send all market survey callers to the Southeast Apartment Association Web site (www.sefaa.org-Market Survey) who call any of our properties that we manage in the fourcounty SEFAA area,” Bonnie said. “Our properties have been directed to update their information weekly, but for our comps to see our current information, they must update their own rents and occupancies. This process will allow the online sharing of current rents and specials between properties and save time that can be better utilized in other areas such as marketing and customer service.” FAACalendar July 29 FAA Board of Directors Meeting AAGO Offices, Maitland October 20-22 FAA Education Conference & Trade Show Omni Orlando Resort at ChampionsGate ChampionsGate, FL MultifamilyFLORIDA l SUMMER 2010 l 9 http://www.MyRentComps.com http://www.MyRentComps.com http://www.MyRentComps.com http://www.MyRentComps.com http://www.sefaa.org http://www.aago.org http://www.MyRentComps.com http://www.myrentcomps.com

Table of Contents for the Digital Edition of Multifamily Florida - Summer 2010

Multifamily Florida - Summer 2010
Contents
President's Message
FAA Calendar
Association News
Legislative Update
From Fixer-Upper to Fabulous
Setting the Sales Stage
FAA Education Conference Preview
2010 Charity Challenge
Market Report
In the News
Product/Service Council Directory
Index to Advertisers

Multifamily Florida - Summer 2010

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