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Methodology and Definitions

Austin Investor Interests, LLC (AII) is an independent research firm and database publisher that specializes in providing meticulously collected data on multi-family properties and producing non-biased market trends and statistics for real-estate professionals. With over 14 years of experience in collecting and disseminating apartment market data, AII has assembled the most comprehensive and accurate databases of multi-family properties in the industry. Our data is collected by in-house professionals who understand not only the use of the information, but also the vitality of obtaining trustworthy data on each property.

Frequency of Updating

Month of each calendar quarter. These updates are obtained by personally calling every property that we survey. The number of properties surveyed changes each quarter as new projects are added. This update includes, but is not limited to, rental rate per unit type, number of units occupied, number of units vacant, number of units preleased, number of down or un-rentable units, current concessions, management company, ownership and on-site management contact. Rental rates may or may not include consideration for all-bills-paid or furnished units, as we feel their impact on the overall statistics is negligible. While every effort is made to reach each property, in the event that we are unable to obtain an update during any given quarter, it will be noted in the quarterly comments section. This amount has never exceeded 2% of the entire database. The results and statistics that are gathered during our quarterly surveys are then compiled and posted to our website. Currently, our schedule of posting is as follows:

First Quarter April 15th
Second Quarter July 15th
Third Quarter October 15th
Fourth Quarter January 25th

Areas and Properties Covered

At this time, AII covers the Austin and San Antonio apartment markets. The Austin market consists of the Austin MSA, which includes the counties of Bastrop, Caldwell, Hays, Travis and Williamson. The San Antonio market consists of Bexar county and the surrounding cities of Boerne, Kerrville, New Braunfels and Seguin. For detailed information on submarket boundaries and maps, please click here.

Unless otherwise stated, the statistics in our reports are based upon conventional properties. However, we collect and maintain a full database on affordable, student and senior housing, as well as properties under construction and sales transactions. The statistics from these properties may or may not be included in some searchderived reports, depending upon the user’s criteria and selection. The definitions for these properties are as follows:

Conventional Housing : Greater than 49 units, offering market rent or at least 50% of property is offering market rent (if the property has some affordable units, it will be designated with AHS after the project name).
Affordable Housing : Greater than 49 units, offering lower-than-market or restricted rents on more than 50% of the property (will have an AH after the project name).
Student Housing : Greater than 49 units, leased by the bedroom (will have an SH after the project name).
Senior Housing : Greater than 49 units, age restrictions on more than 50% of the property (will have “Senior” after the project name).
New Construction : Greater than 49 units for a new project, or the addition of units to an existing property .

Definitions

Absorption : Change in occupied units from one period to the next.
Approved : Building permit issued from local permitting agency.

Building Area : This figure is the per property sum of the total number of units in a floorplan times the square footage of that floorplan. It does not exclude non-rentable units, nor does it include any common areas such as office, laundry room or amenity areas. This figure is only used to calculate the sales price per unit or per square footage.
Class : An ambiguous term used in the real-estate industry to help define the characteristics of a particular property. AII uses the following criteria to determine class, however some properties have been reclassified due to rehabs, upgrades or special circumstances:
Class A : Less than or equal to 8 years old w/full amenity package.
Class B : 9-23 years of age.
Class C : Greater than 23 or more years of age.
Concessions : Move-in incentives that are offered to all prospective tenants that result in a reduction of the current market rent.
Construction : Under construction/broken ground.
Effective Rent : The market rent less the value of current concessions.
Market Rent : The current asking or published price for a vacant apartment unit based upon a 12 month lease (unless otherwise stated). The price may be stated as a range if the property charges a premium for a particular view, floor or other.
Net Unit Change : The change in total units from one period to the next. This number includes the addition or subtraction of units due to construction, destruction, renovation, rehabilitation, maintenance or status change from one property type to another.
New Units Added : Units added to the market from new construction.
Pre-leased : Vacant units that have pending rental agreements in place.
Proposed : Project in planning stages.
Rehab : Existing property taken off-line to renovate or update units.
Rentable Units : The total units, less any unrentable units (ie – employee units, maintenance units, unfinished units or units taken off-line for renovation or damage).
Submitted : Site development plan has been submitted to local permitting agency for review.
Total Units : The total number of apartment units in a particular project without regard to rentability.

Key to Amenity and Unit Type Notations

Y Yes E Efficiency or Studio
N No D Den or Study
S Some TH Townhome
W Wired L Loft
A Available S Sunroom
IE Individual Electric * In some units
IG Individual Gas W/D Washer/Dryer
B Boiler F Full Sized W/D
NR Non-refundable FC Full Sized W/D Connections
ABP All Bill Paid S Stackable W/D
G Garage SC Stackable W/D Connections

Access and Copyright Information

As many of our services are now offered through the internet, there will be occasional periods when the system is not accessible and AII is not responsible for any damages due to the interruption of the service. All data/information provided by AII is copyrighted and is provided to subscribers for their own use and no case should be used in any manner that would be deemed competitive to AII. No portion may be reproduced in any manner without written consent of AII.

Any and all resale, redistribution or other forms of dissemination is strictly forbidden.