MyNewPlace Launches Guarantee Program

First ILS to Guarantee Multifamily Owner/Operators a $275 Cost-Per-Lease

San Francisco – June 23, 2010 – MyNewPlace, one of the nation’s largest apartment Internet Listing Sites (ILS), today announces the first-ever $275 average cost-per-lease guarantee program for multifamily owner/operators. As part of this new program, any participating client whose average cost per lease exceeds the guaranteed price will receive a credit to their MyNewPlace account.

“We examined more than 200,000 rental-records from a large cross section of existing clients for a full year and determined MyNewPlace can consistently deliver an average cost-per-lease of less than $275,” said John Helm, MyNewPlace founder and CEO. “This new program doesn’t affect our existing lead-based pricing structure and in fact it delivers greater peace of mind to our eligible clients that MyNewPlace delivers the most qualified leads possible to meet our guarantee.”

There is no cost to participate in the new guarantee program however clients need to meet certain eligibility requirements to enroll. First, clients are required to list a minimum of 20 properties continuously with MyNewPlace for one full year. It is also necessary for participating clients to provide renter data at the end of the 12 month term. MyNewPlace will identify the number of new residents delivered to the properties and calculate, with statistical accuracy, the cost-per-lease. If the average cost-per-lease exceeds the $275 benchmark the client will receive an account credit based on the overage amount which can be used to purchase any MyNewPlace product or service.

“We consider MyNewPlace a true partner. Its cost per lease analysis proved a cost point under $275 and sparked a productive internal dialogue about tracking and marketing optimization,” said Donald Davidoff, group vice president, strategic systems for Archstone.

For more information about the MyNewPlace’s new guarantee program or to speak with a company executive, please contact Don Canfield at (303) 682-3942 or via email at [email protected].

###


About MyNewPlace
MyNewPlace is the second largest apartment and home rentals Web site in the U.S. The company offers apartment owners and managers a great source of qualified, prospective residents under a results-oriented pricing program. MyNewPlace delivers free access (via web, mobile web or iPhone/iPod Touch) to rich property information, including photo galleries, videos, neighborhood information. Headquartered in San Francisco, MyNewPlace was founded in 2005 by John Helm. For more information about MyNewPlace, please visit www.mynewplace.com .