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Apartment locators that give you money

Posted by kenth (My Page) on
Tue, Aug 15, 06 at 7:21

Does anyone have experience with those apartment locators that give you a free move or say they will pay you money? I've seen a place called FreeRentMoney.com that seems to be okat. I've talked to the owner and he says he's on the up and up and has been in business for 5 years.

Anyone ever receive money from one of these types of places?

KentH


Follow-Up Postings:

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RE: Apartment locators that give you money

Nope.

I get referals for bringing tenants to certain apt complexes. Wow imagine talking to an owner who claims to be on the up and up! What did you expect to hear?


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RE: Apartment locators that give you money

Things Everyone Needs To Know #1: NOTHING IN LIFE IS FREE.

If it sounds too good to be true, it is. And there is certainly no such thing as "free" money; anything that advertises otherwise just isn't telling you the whole story.


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RE: Apartment locators that give you money

It's possible that their clients are paying them $500-700 for finding tenants.

They pass through some of the commission

But you are paying for that "service" and I bet you pay more than for an apartment that doesn't have this particular promoter.


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RE: Apartment locators that give you money

I looked at the website and it appears to be in the Dallas, Houston, San Antonio apartment market. It applies to your moving into one of the apartment buildings that they feature. When our area has lots of vacant apartments they will offer one month free rent or other incentives. One month free rent would be more money--since this website only offers $150 on a $500 rental, and there is a lease involved.
I would guess that the market in Texas has lots of new apartment buildings and this is a method of filling the units. Check the papers to see if there are other incentives offered by other apartment complexes.


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RE: Apartment locators that give you money

I actually found an apartment using www.rent.com, which gives you $100 if you sign with a complex they list. You have to jump through a few hoops, but I really did get my money. I liked their service since it was free to use, and you get $100 later if you wind up finding a place. Now, I used it 4 years ago, so they may have changed things, I don't know. I liked the apartment I found through them though, so it wound up very good for me, but your mileage may vary of course.


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RE: Apartment locators that give you money

There are actually a host of similar web sites.

The business model for all of them is very similar. Some offer money ($100-$200 per customer) some offer other incentives (limited free move for instance).

Basically, an apartment community interested in acquiring a new tenant will pay a commission (usually 50%-100% of a first months rent) to any licensed party (apartment locator or a web company) when a tenant moves in and tells a property that they found out bout their apartments through one of those referral companies.

As long as you tell the apartment community (and make sure the apartment manager writes it down on your lease) that you used a specific locating service that service will be able to get a commission for you (see above) and then share a small portion of it with you.

There is one big problem with all these sites. They only list properties that PAY commissions and usually those are property that are ether having difficulty filling the units or those that might not be desirable by the general public. Basically any commercial apartment locating site will only show you properties they are working with. That in turn will limit your choices to a comparably small number of properties.

I actually worked with one of these companies for years. Make sure you read their terms and conditions and make sure you talk to them any time you have questions and you will get your money or some other perk.

On the same topic, if you are not looking for any added value, but rather looking for apartment information I might suggest you visit my site (http://www.everyaptmapped.com) as to my knowledge it is the only site on the net that actually lists all apartment communities rather than only those that pay commissions.

Here is a link that might be useful: Apartment Search - EveryAptMapped


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