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The Long Tail of Video Sites is Getting Longer

February 9, 2010 – 10:32 am
We talk about the long tail a lot at rentBits. The web is fragmented and advertisers need to reach more users across more sites. As it relates to the rental market, over 90% of all renters search across multiple rental sites looking for their ideal rental. This fragmentation is called the long tail.A recent post by TechCrunch, shows that the long tail of video sites make up about 52% share. As a video advertiser, to gain the most distribution and eyeballs, you need to be on both the long tail of video sites as well as the head of the tail.This is true in all verticals where barriers to entry have made it easier to launch these types of services. Cerca 2007 there were few blockbusters that made up a majority of the market. The long tail did not exist. It was just too expensive to scale and launch a website from a garage.Today, the tides ...

The Virtual Assistant for Apartments?

February 5, 2010 – 12:48 pm
I just ran across this new iPhone application that acts as a virtual assistant. Could there be some opportunity in the rental space for this type of device?Siri - The Personal Assistant in your Phone from Tom Gruber on Vimeo.

Nominate Your Favorite Rental Service for the Renty Awards

January 31, 2010 – 4:05 pm
Participate in the first ever Renty Awards by nominating your favorite rental service from 10 categories. Nominations will run until Feb 15th and then will open up for online voting.Nominate your favorite site here.

Real Estate Outlook 2010 (Jan ‘10)

January 29, 2010 – 11:02 am
Borrell Associates just released their report on Real Estate for 2010.In the report they discuss:It will take another 3-5 years for the residential side of the market to rebound. One is seven mortgages are delinquent or in foreclosure and unemployment is likely to stat at 10% or higher.Total spending on real estate advertising was down 20% last year but very unevenly across different media.Newspapers will see an increase in real estate advertising this year over last due in large part to spending by government agencies and banks to promote the sale of distressed properties. (Another example of wasteful spending)Online advertising continues to dominate the real estate market, reflecting the consumer's ongoing rapid adoption of the Web as a preferred method for researching homes for sale and rent.A more immediate development within online advertising is the strong growth of video, which provides real estate shoppers with a much more immersive and compelling experience of the attibutes of each unique property.I would ...

Detroit Real Estate Continues to Decline

January 27, 2010 – 8:15 pm
Y-O-Y Detroit home values have dropped 15%.  Average rental rates have also decreased Y-O-Y by about 15% and last year was named one of the countries emptiest cities.Detroit Homes For SaleThe houses for rent in Detroit are also sitting on the market longer and many are going into foreclosure. The unemployment rate is around 15.4% and it doesn't look like that will improve anytime soon. What will save Detroit? New Industry? Farming? What do you think?

rentBits launches Neighborhood Search

January 27, 2010 – 11:45 am
Neighborhood rental search was the number 1 request from our users looking to find a rental. We are excited to announce the release of neighborhood search.You can now search for specific neighborhoods like Washington Park, LoDO, Capital Hill, etc. within the search bar or select while during a city search.

Accomplishing Your Goals

January 26, 2010 – 2:55 pm
This week we launched a resource center for those looking for help in accomplishing their goals. We call it TheGoalSherpa.The goal of TheGoalSherpa is to positively affect millions of lives by giving them the resources and tools to become extraordinary.  It is in its infancy stage and will continue to grow each day. Take a look and let us know your thoughts.

rentBits is Hiring

January 20, 2010 – 5:07 pm
We are looking to fill the following roles immediately. Please contact us if you know anyone. jobs@rentbits.com IT Product Manager (Denver) Your responsibilities will include helping to define product vision and strategy and working with engineers to execute it. This role focuses on breadth and rotation and is intended for candidates with up to three years of full-time work experience. Responsibilities: Understand and analyze user needs. Research markets and competitors. Work with engineers to define products. Build and launch new products and features. Define product vision and future direction. Requirements: BA/BS in Business and/ or related technical field. (Computer Science a plus) Demonstrated capacity for developing and understanding strategy. Outstanding organizational and analytical skills. Strong technical abilities. Passion for new technologies. Excellent written and oral communication skills. Sr Java Developer This developer will work as a core member of the IT team assisting with Business Projects Job Duties and Responsibilities * Work ...

Apartments Beware - Posting to Craigslist

January 20, 2010 – 11:51 am
As an Apartment Marketer, you are responsible for generating as many high quality leads that turn into leases for the lowest amount per lead. You are prepared to have a meeting with your CEO on marketing recommendations for 2010. Your spreadsheet is filled with data, assumptions, cost per lead numbers, cost per lease numbers, budget forecasts, additional headcount numbers, and how you are going to save the company millions in annual marketing costs. Part of your marketing strategy is to streamline the posting process to Craigslist. There are many different sites that offer tools to post to Craigslist including Postlets, Apartment Marketer, vFlyer, Rent Sentinel, Benson Media and others.  You are prepared to present this exciting news with your recommendation on using a third party CraigsList posting tool. You have done your due diligence and have ...

rentBits Nominated for Inc. 500 | 5000 Fastest Growing Companies

January 19, 2010 – 1:42 pm
We are very excited to have been nominated for the Inc. 500 | 5000 list of the fastest growing privately held companies in the US.Here is the list for 2009 and the 2010 list will be announced in August. For a company to be nominated they must make certain eligibility requirements:· -Privately-held, U.S. based, for profit and independent (not a subsidiary or division of another company) -At least $100k in revenue in 2006-At least $2MM in revenue in 2009-Founded and generating revenue by March 31, 2006.

Don’t Be Fooled - 7 Questions to Ask When Determining a Rental Syndication Service

January 11, 2010 – 9:40 am
Rental syndication, or the process of distributing rental properties to many different points on the web, is a necessary service if you are looking to rent your home or apartment quickly. When Rent Marketer launched in 2006, and Apartment Marketer in 2008, there were very few rental syndication services. Today, there are many different sites that say they distribute rental properties. However, don't be fooled by many of these services. You may be surprised when doing a little research.  What to look for and ask when determining which service to use. Ask. How many "Unique" sites are in your network? Many distribution services post to sites that power other sites. Oodle ...

Views from the World’s Tallest Building

January 6, 2010 – 4:00 pm
This is pretty incredible. View from the The Burj Dubai. It reminds me of my days (day) of sky diving.

10 Ways User Reviews Will Change the Apartment Industry

December 20, 2009 – 4:55 pm
Whether you like it or not, reviews of your community will be as ubiquitous as the devices the reviews will be read on. Reviews of businesses have always been a thorn for publishers. Consumers want reviews, advertisers won't advertise if there are (negative) reviews.As an apartment community, being held accountable by your residents, and making positive changes based on the feedback, will inevitably make your community better and more profitable.Apartment reviews are about to become much more integrated into the rental search experience.According to various sources, Google is very close to acquiring Yelp, a national business review site, for at least $500 million. This will be the catalyst for empowering current and future residents to easily and honestly communicate their service experience as it relates to finding, renting and living in an apartment community.How will user reviews impact the apartment industry? Potential residents will have easier access to reviews of apartment communities Positive and negative reviews may ...

Google in Acquisition Discussions with Trulia

December 19, 2009 – 2:26 pm
Google's CEO Eric Schmidt said they would be acquiring about a company a month in 2009. He wasn't joking. They are on a spending spree with the most recent acquisitions of AdMod for $750 Million, DocVerse for about $25 million, and discussions to acquire Yelp for ~$500 Million.The most recent rumor has been swirling around silicon valley for many months. Kara Swisher of AllthingsD wrote, "it is unclear what price Google (GOOG) would pay, but sources estimate that Trulia’s valuation ranges between $150 million and $200 million, although there could be a big premium on that."Trulia, a real estate search engine, raised $32.8 Million and have approximately 6 million unique visitors / mo.Trulia's main competitor Zillow raised $87 million, has about 8 million unique visitors a month and recently launched a rental search product.Google's current real estate search product is slow, hard to navigate, and lacks current monetization. An acquisition of Trulia would propel Google into the real estate ...

Fairfield Residential LLC Files for Bankruptcy

December 17, 2009 – 2:22 pm
Fairfield Residential, one of the largest multifamily real estate operators in the US, has filed for chapter 11 bankruptcy protection.Fairfield said on its website the "protection will enable the Company to conduct its business operations in the ordinary course. Through the proposed Plan of Reorganization, Fairfield expects to emerge from this process and maximize value for all of our stakeholders by creating a stronger go-forward operating platform and continuing to be an active player in the multifamily sector."The Dallas News reported that the company has more than $1 billion in debt and between 200 and 1,000 creditors."Although the relatively strong demand for multifamily rental units during this recession has allowed our businesses to continue to perform well, the unprecedented collapse of the U.S. real estate and capital markets has made it difficult, if not impossible, for Fairfield to continue without restructuring its financial obligations," Fairfield CEO Christopher Hashioka said.

NeighborhoodScout - 15 Most Dangerous Neighborhoods for Property Crime

December 17, 2009 – 11:16 am
My Friend, Dr Andrew Schiller, put together a list of the top 15 most dangerous neighborhoods for property crime."Using exclusive neighborhood crime data developed by Dr. Andrew Schiller at NeighborhoodScout.com, and based on FBI data, these are the neighborhoods in America that have the highest rates of property crime.These are not necessarily the neighborhoods where you are likely to be harmed physically, although some of them do also have high violent crime rates. This is where houses are broken into, cars are stolen, and thefts occur. Out of more than 60,000 neighborhoods in the U.S., these are the 15 where your chances of becoming a property crime victim are highest."Read full article here.

Pete Flint of Trulia - CNBC Home Prices on Shaky Ground?

December 16, 2009 – 2:37 pm
Pete Flint of Trulia.com on the housing market.

Tenants: Where to Find Answers on the Web

December 15, 2009 – 11:47 am
By Dennis ZocchiOn several occasions I’ve written about tenant life and given advice on how to handle common situations. And although I’ve touched upon tenant associations and how to create them, I thought I’d give you some existing resources that can also help you organize yourself.Depending on what state or city you live in, there are websites that are specifically geared towards your rights as a tenant according to that state/city law. Whether or not you have an issue to address already, it is a good idea to review the legal rights assigned to you. You may be surprised at some of the services or requirements that are not being met by your landlord. For example, in the state of NY, a tenant has the right to pass their lease on to a relative if they have been living together for a minimum of two years. ...

Zillow Launches Rental Search

December 15, 2009 – 9:16 am
Yesterday, Zillow launched rental search on their website of over 8 million uniques a month.Chloe Harford, Zillow's Sr. Director of Strategy and New Ventures, says "Today’s launch addresses two of the most common requests we get from users, which include the ability to post a home for rent, and to empower home shoppers with information about finding homes for rent."This is positive news for the rental industry, rental advertisers and renters. Over 90% of all renters search across multiple rental sites looking for their ideal rental. As an advertiser looking to rent your property, it is even more important to distribute rental listings to as many sites as possible, including Zillow.

Time of Day When People Search Rentals

December 11, 2009 – 9:28 pm
What is the highest point of the day when people search for rentals?Below is a graph of traffic to rentBits.com and the time of day.  The highest point is 16 hundred hours or 4:00.

10 Worst Commuter Cities in America

December 11, 2009 – 11:44 am
By Denise ZocchiI thought Boston was bad, turns out I should be grateful!On a dreary Boston afternoon, stuck in bumper to bumper traffic on the commuter’s shortcut, I began praising the skies. Well maybe not praising, maybe more like angrily cursing. But the thought occurred to me that no matter how awful traffic is in Beantown, there is always someone out there enduring worst. And so, I set the sails on a Google journey to find the cities that were worst than mine; cities that would make me appreciate Boston’s intolerable construction, endless rotaries, and one way roads. Below are my findings from a Forbes List:Top 10 Worst Cities for Commuters. Atlanta, GA Detroit, MI Miami, FL Orlando, FL Dallas, TX Tampa, FL Washington, DC Houston, TX Los Angeles, CA San Francisco, CAJust as I had suspected, there are many out there who endure worst than I do. Commuters in Atlanta are spending 60 hours a week numbing their ...

Outrageous Stowaway Footage

December 10, 2009 – 10:48 am
By Denise ZocchiDuring my daily sorting through the media, I found this video posted on another blog. I showed my roommates and following the shocked and disgusted looks on their faces, they blamed New York City for the incident, as though city life everywhere else is much safer and entirely devoid of homeless people.The video shows a NYC apartment, whose tenants consist of a young couple. The boyfriend believes his girlfriend is eating his food and denying it. He proceeds to set up a nanny cam to catch her in the act and ended up with more than he bargained for. The result is way too entertaining and really quite creepy. I had to share.[youtube]06X9qXTvKNQ[/youtube]

Five Things to Think About Before You Sign That Lease.

December 9, 2009 – 5:45 pm
Guest Post - Kathleen Johnston (Chief Financial Officer and General Counsel for WilliamPaid.com)You are in a state of renter’s bliss – you found the perfect apartment at a price you can actually afford. And, best of all, you have the greatest roommates ever. Step outside of your ecstasy cloud, though, for just a few minutes. The honeymoon will be over eventually – plan ahead and try to avoid some of the obstacles that have ruined many rental situations. Keep Your Friends Close And Your Roommates On The Lease. Anyone living in your apartment should be on the lease. If one of your potential roommates suggests that he not be on the lease for one of a multitude of reasons (bad credit, among them), insist. It seems obvious, but only those who are on the lease will be held liable to the landlord. And, if one or more of your ...

Google Real-Time Search for Rentals

December 9, 2009 – 12:47 pm
This week, Google released real-time search results from Twitter. For example, in real time, you can see the most recent tweets for "rentals"Most likely, Google will incorporate link values from Tweets. Making the web ever more democratic. This could be the next wave of SEO.

Apartment Living: Pet Peeves You Didn’t Know You Had

December 9, 2009 – 11:41 am
It wasn’t until I was all settled into my 2nd floor apartment that a new set of relentless nuisances developed. Having never lived in an apartment before, I had not known to pay attention to the seemingly inconsequential details of an apartment that later turned into my worst nightmare. Below is a list of potential nuisances to watch out for and perhaps use as a rule of thumb for living priorities: Mold or mildew: This really is the invisible monster. It can cause serious allergy issues and potentially make the apartment impossible to live in. I knew someone who lost 5 months of rent on a place she could not live in. Loud dogs: It may seem like the type of nuisance that you could get over, however, asking around could not hurt. You don’t want to constantly wake up in the middle of the ...

Property Management “Worst Move-out Photo” Contest

December 8, 2009 – 7:58 pm
Knock on wood. I am glad I have not experienced this type of move-out with my tenants and I hope to never experience it. PropertyManager.com, a service by Appfolio, held a contest to see what property managers had the worst move-out photo. The winning photo was:View the remaining photos here.

Post Your Rental for Free on rentBits

December 8, 2009 – 2:23 pm
At rentBits, our mission is to organize all of the world's rental information. In the past, we were limited to crawling the web and getting fed listings from various sites. This eliminated the possibility of a property not on the web being indexed by rentBits. However, now anyone can advertise their rental for Free on rentBits. The free listing will be shown on rentBits.com, Google Base, Oodle, Vast and HotPads.com.If an advertiser is interested in receiving more leads, they can upgrade to a paid package and have their property distributed to over 100 rental sites.

Fartman and Wife Rental Tips (Episode 1)

December 7, 2009 – 10:19 pm
We wanted to have a little fun so we published our first rental tips as a movie. This one is entitled "Rental Search Frustration." Enjoy.....

What Marketing Sources are Potential Tenants Using?

December 7, 2009 – 5:06 pm
One of the nuggets in our most recent whitepaper entitled, "Maximizing the Effectiveness of Marketing in the Single and Multifamily Rental Industry," is the answer to "What Marketing Sources are Potential Tenants Using?"The survey of 1000 renters found that 72% of the respondents said searching on the Internet was their first choice when search for a home or apartment. 17% said the newspaper, 5% said yard signs, 5% said from referral of friends and 2% said other.The big takeaway for marketers trying to fill vacancies is to post your rental on the Internet and post to as many sites as possible.

Real Estate Market Report: Rockford, Illinois

December 7, 2009 – 4:43 pm
We have been noticing more and more listings being posted under houses for rent in Rockford.  rentBits now has hundreds of listings in this relatively small town of 157,000.Rockford is located on the northern tip of Illinois and was founded 1834. According to Wikipedia, Rockford was first settled in 1834-1835 by Germanicus Kent, Thatcher Blake, and Lewis Lemon, who came from Galena and established themselves on the west bank of Rock River, and Daniel Shaw Haight, who founded a settlement on the east bank.According to Zillow, the average home value is $92,300.The rentBits average rental index for Rockford is $809.Cities within a 10 mile radius of Rockford are:BelvidereLoves ParkRoscoePoplar GroveCherry ValleyRockton