{"id":11431,"date":"2019-11-25T21:55:23","date_gmt":"2019-11-26T02:55:23","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?p=11431"},"modified":"2023-07-22T11:36:40","modified_gmt":"2023-07-22T15:36:40","slug":"better-than-no-fee-free-rent","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/blog\/better-than-no-fee-free-rent\/","title":{"rendered":"Better Than No Fee? Free Rent!"},"content":{"rendered":"\r\n<p>We previously discussed the concept of <a href=\"https:\/\/www.renthop.com\/blog\/2019\/11\/the-1-or-1-problem-no-fee-op-and-net-effective-scams\/\">1 AND 1 pricing<\/a>. That is, the landlord should be willing to pay the <a href=\"https:\/\/www.renthop.com\/blog\/brokers-fee-an-investment-or-just-another-expense\/\">broker fee<\/a> for finding high-quality tenants to fill a vacancy, and they should still offer all of the free <a href=\"https:\/\/www.renthop.com\/blog\/how-to-negotiate-rent-concessions\/\">rent concessions<\/a>, like free rent. Breaking the price parity would quickly lead to very few closed deals.\u00a0<\/p>\r\n\r\n\r\n\r\n<p>Many of the best agents close a high volume of deals and understand that time is a valuable asset for all sides. They are confident enough in their closing rate that they will offer a move-in gift, rebate, or reward back to the renter after lease signing (in practice, about 45 days after when the OP clears).<\/p>\r\n<h2>Free Rent in Play<\/h2>\r\n\r\n\r\n\r\n<p>Done properly, all sides win. The renter gets an even lower <a href=\"https:\/\/www.renthop.com\/blog\/what-is-net-effective-price\/\">net effective rent<\/a>, the broker closes more deals more quickly, and the landlord fills their vacancy. The broker makes less on each deal and relies on volume and a high quality bar for both the renter and apartment.<\/p>\r\n\r\n<p>\u00a0<br \/><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-10401\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2019\/11\/image-5.png\" alt=\"\" width=\"575\" height=\"227\" \/><br \/>\u00a0<\/p>\r\n\r\n<p>&nbsp;<\/p>\r\n\r\n\r\n\r\n<p>As a pilot program, we are allowing agents to list the Rebate To Renter as a listing amenity. Smart agents are already offering these deals, but no other <a href=\"https:\/\/www.renthop.com\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"NYC apartment finder (opens in a new tab)\">New York City apartment finder<\/a> allows consumers to filter and search this way. Keep in mind, whether a listing pays OP varies between buildings, landlords, and <a href=\"https:\/\/www.renthop.com\/blog\/2019\/11\/the-1-or-1-problem-no-fee-op-and-net-effective-scams\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">sometimes individual units<\/a>.<\/p>\r\n<p><em>Editor&#8217;s Note: We updated this article to enhance readability.\u00a0<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>We previously discussed the concept of 1 AND 1 pricing. That is, the landlord should be willing to pay the broker fee for finding high-quality tenants to fill a vacancy, and they should still offer all of the free rent concessions, like free rent. Breaking the price parity would quickly lead to very few closed [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":11447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"no","footnotes":""},"categories":[150],"tags":[],"class_list":{"0":"post-11431","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-apartment-hunting"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Better Than No Fee? Free Rent! - Real Estate Topics, Tips, and Guides<\/title>\n<meta name=\"description\" content=\"Perhaps the only thing more appealing than a no fee apartment is free rent! 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