August 30, 2013

Apartment Complex Mapping

Target Apartment Renters by Their Estimated Monthly Rent Payment

Apartment Complex Mapping

We have created a unique service called “Apartment Mapping” primarily for real estate agents and mortgage brokers with First Time Buyer programs.  Some Apartment Management companies use this as well, to draw their competitors residents to their property.

With this service, you would select the particular apartment complexes that you would like to mail to, then we will give you a list of all the addresses within those complexes.  Most of our clients use the For Rent Magazine or Apartment Guide or similar publications found in most grocery and convenience stores nationwide (or their websites).  If you are not familiar with them, these publications advertise apartment complexes, and usually provide monthly rent ranges.  You can go through these mini-magazines and select the apartment complexes where you feel most residents are paying an amount of rent that could be ‘easily’ traded for a mortgage payment.  Obviously, the current advertised rent may not apply to some individuals who have occupied the same apartment for several years.  This is what we call “the hole in the doughnut”.  We rely on the nomadic nature of apartment dwellers, and their frequent moving habits to conclude that most residents are paying within or very close to the advertised range.  The same holds true for “roommate” situations, where two or more non-related individuals will split the rent.  By nature, this is more prevalent in “college” towns. If you are not familiar with the makeup of a town you want to target, check the US Census statistics for that area, as they usually indicate the percentage of non-related individuals sharing a household.

This type of list has a minimum order of $160.00 which includes the database and one mapped apartment complex.  Each additional complex, up to 5, is $50.  Volume discounts on mapping fees are given above five complexes.  Turnaround time on this type of order is generally 3 business days.  The addresses provided on this list do not come with names.  By default, they are addressed to “Resident”, though most of our clients have us change this to something like “Attn: Future Homeowner”.

For an additional fee of $25 per zip code searched, we will sift through the advertised apartment complexes for you and select those that match your rent criteria.  Most apartments advertise the rent as a range, like “$545 to $995 a month”.  If you are looking for people paying an estimated minimum of $800 per month, this complex may or may not be okay with you.  Because of this, you will need to tell us your lowest threshold to allow when sorting the advertised rent.  In our experience, like in much of the advertising out there, the management companies low-ball the rent in print to generate interest.  So if they advertise at “$545 to $995 per month”, you can expect that most of their units are going for closer to $995 than $545.  This threshold is unique to each client and their perception of advertising and the rental housing industry as a whole, and therefore must be defined by you.  Additionally, you must define the maximum number of apartment complexes that you would like us to select for you.  If there are more matching complexes available than you have allowed for, we will select the ones charging the most rent by default.  So, if you want a maximum of 5 complexes, but 9 match your minimum rent criteria in your zip codes, we’ll select the 5 advertising the highest rent; then we’ll let you know which other 4 complexes matched your criteria, in case you want to use them later on.  Apartment Complex Selection by Spectrum Data will add one business day to the processing of your order.

Occupant Data is guaranteed to be 100% deliverable. Spectrum Data will buy back any undeliverables at $0.30 cents each providing the client provides Spectrum Data with the returns with the “yellow sticker” from the USPS within 45 days of order.