More Consumers Seeking Rental Housing Options Despite the Normal Seasonal Downtrend

Norfolk, VA, October 01, 2010 --(PR.com)-- With a year-over-year 65 percent increase in traffic to the ForRent.com family of sites in August 2010, it is evident consumers are still actively seeking rental options despite the seasonal downtrend at this time. This finding supports the August 2010 quarterly survey conducted by the National Multi-Housing Council (NMHC), which identified a shift in consumer mentality toward short-term rental agreements and away from long-term mortgage debt.

According to this survey, market conditions are more favorable for property managers as more and more consumers are turning to rentals as housing solutions. The survey shows that 64 percent of respondents said conditions for multi-family borrowing were better than last quarter. In addition, more than 2.5 million renters visited the ForRent.com family of sites in August 2010. That is a 65 percent increase from August 2009.

“We are pleased to see the increase in traffic and attraction to apartment renting,” noted Terry Slattery, president of For Rent Media Solutions™, a division of Dominion Enterprises. “According to coStar, a commercial real estate information company, 90 percent of the top apartment markets in the nation experienced demand growth as leasing activity improved during the first half of 2010.”

The decline in home ownership is driving more consumers to an apartment living lifestyle. In August, For Rent Media Solutions clients saw a year-over-year increase in total leads by 35 percent.

Find coStar’s complete analysis here.

About For Rent Media Solutions™
Headquartered in Norfolk, Va., For Rent Media Solutions is a division of Dominion Enterprises. As the multi-family housing solution for apartment seekers, property/apartment managers and owners, For Rent Media Solutions provides superior products, outstanding customer service, and tangible results. For Rent Media Solutions is a leading resource for choosing your next apartment for rent, townhouse, condo, duplex, efficiency, studio or loft and provides a free customizable apartment search. For Rent Media Solutions operates For Rent Magazine®, as well as ForRent.com™-The Magazine, and publishes over 100 magazines covering more than 190 markets nationwide, including After 55™ Housing & Resource Guide, and Apartamentos Para Rentar®. For Rent Media Solutions operates three additional Web sites: ForRent.com®, SeniorOutlook.com™, CorporateHousing.com®, and ParaRentar.com™. What’s more, with ForRent.com’s Mobile suite of products, apartment shoppers can easily find their next apartment on their mobile phone and share property listings on social media websites like Facebook and Twitter™. For Rent Media Solutions is a company dedicated to the needs of the apartment industry, bringing prospective residents and apartment communities together any time, any place.

About Dominion Enterprises
Dominion Enterprises is a leading marketing services company serving the automotive, enthusiast and commercial vehicle, real estate, apartment rental, and employment industries. The company’s businesses provide a comprehensive suite of technology-based marketing solutions including Internet advertising, lead generation, CRM, Web site design and hosting, and data management services. The company has more than 40 market-leading Web sites reaching more than 17.6 million unique visitors monthly, and more than 280 magazines with a weekly circulation of 2.4 million. Headquartered in Norfolk, Va., the company has 4,900 employees in more than 186 offices nationwide. For more information, visit www.dominionenterprises.com.

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