COMMERCIAL REAL ESTATE
Magazine on Apartments Launched: Apartment renters can feel like chopped liver when new home buyers enjoy low interest rates, tax breaks and property-owner status.
But tenants these days have at least one less reason to feel ignored. The forces behind Homes For Sale Magazine have launched Apartment Homes For Rent, which aims at attracting tenants by mapping out Orange County rental communities and their amenities.
The monthly magazine, launched last month, is distributed free to 35,000 people at 800 locations. An additional 30,000 copies are sent to renters via direct mail.
“There are a lot of complexes here competing for renters,” said Gail Hyland-Savage, publisher and managing partner in the magazine. “There’s a strong market.”
Apartment hunters already have several other publications to choose from, but falling rental rates have forced managers to become more aggressive in luring tenants with special promotions and lease deals, she said. The publication also offers to produce videos for landlords to advertise their units on cable TV.
The Irvine-based publication could be expanded to 80 pages in the next 12 months, and possibly to other counties before long.
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