Miami, FL (June 3, 2010)- The world’s largest condo marketplace, Condo.com, has partnered with Apartment Investment and Management Company (Aimco), one of the nation's largest owners and operators of
apartment communities. Aimco will supply Condo.com with a feed of 200+ active properties, expanding the company’s home rental search experience.
The relationship creates a unique value proposition for both companies and for potential renters nationwide. While there are dozens of online
apartment guides available, the condo vertical is a unique, niche market offering and extends Aimco’s property inventory to this marketplace of renters. “We have found that prospective tenants do not make the distinction between an
apartment or condo when looking to rent and in fact, due to the current oversupply of condos, there is a growing number of searches and inquiries for rentals on Condo.com,” stated
Richard Swerdlow, founder and CEO. By teaming up with the dominant player in the condo space, Aimco seeks to expand its online presence and attract a larger number of potential residents. Condo.com currently receives about 500,000
rental property searches per month. Senior Vice President of Business Development,
Jason Mizrachi stated: “Oftentimes the consumer does not make the property type distinction, they just want something to rent, be it an
apartment or condo. Our SEO (search engine optimization) for
apartment keywords is creating huge demand and traffic”. The Aimco partnership strengthens and increases Condo.com’s footprint within the rental vertical. “Most importantly, it allows our users to experience a more complete and comprehensive search for their future living space,” added
Mizrachi.
The partnership is an ideal fit since the condo and
apartment hunter share similarities when it comes to conducting a property search. Renters look to sites that can offer a variety of rental options including town houses, single-family homes and vacation rentals, all of which can be found on Condo.com. Aimco’s property listings add to the home rental search experience on the company’s site and will attract even more renters to fill these newly added units. Both companies will see immediate benefits from their partnership as the peak season for the rental industry extends from April to August. “We are honored to expand our
rental platform with Aimco, one of the nation’s most respected apartment owners; and look forward to the prosperity and growth that this partnership will bring to both companies”, added CEO
Swerdlow.
About Condo.com
Condo.com (www.condo.com) is the world's largest condominium marketplace with over 800,000 listings valued in excess of $250 billion. The site is a consumer-facing, online real estate portal which receives over 1 million visitors monthly and is dedicated to the evolution and prosperity of the condominium real estate market. Condo.com improves and simplifies the way people buy, sell, rent, live and vacation in condos. Condo.com lists condos for sale and for rent in the United States and 70+ countries around the world. The Company cost-effectively delivers exposure and qualified leads to developers, brokers and owners through the seamless distribution of its listings to a global network of real estate websites visited by over 15 million viewers per month. The company is also a licensed real estate brokerage business in multiple markets and has a growing nationwide network of licensed real estate agents providing brokerage services. Condo.com is privately held and headquartered in Miami, Florida.
About Aimco
Aimco is a real estate investment trust headquartered in Denver, Colorado that owns and operates a geographically diversified portfolio of apartment communities. Aimco, through its subsidiaries and affiliates, is one of the largest owners and operators of apartment communities in the United States. Aimco owns or manages 858 properties, including more than 134,000 apartment units, and serves approximately 500,000 residents each year. Aimco's properties are located in 44 states, the District of Columbia and Puerto Rico. Aimco common shares are traded on the New York Stock Exchange under the ticker symbol AIV and are included in the S&P 500.