{"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":"\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 broker fees for finding high quality tenants to fill a vacancy, and they should still offer all of the free rent concessions that they would offer to direct deals.  Breaking the price parity would quickly lead to very few closed deals.<\/p>\n\n\n\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>\n\n\n\n<p>Done properly, all sides win.  The renter gets an even lower net effective rent, 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>\n\n\n<p>&nbsp;<br>\n<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>\n&nbsp;<\/p>\n\n\n<p><\/p>\n\n\n\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 rel=\"noreferrer noopener\" aria-label=\"NYC apartment finder (opens in a new tab)\" href=\"https:\/\/www.renthop.com\" target=\"_blank\">NYC apartment finder<\/a> is allowing 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>\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 fees for finding high quality tenants to fill a vacancy, and they should still offer all of the free rent concessions that they would offer to direct deals. Breaking the price parity would quickly [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":11447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","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 v23.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Better Than No Fee? Free Rent! - Real Estate Topics, Tips, and Guides<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/blog\/better-than-no-fee-free-rent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Better Than No Fee? Free Rent!\" \/>\n<meta property=\"og:description\" content=\"We previously discussed the concept of 1 AND 1 pricing. That is, the landlord should be willing to pay the broker fees for finding high quality tenants to fill a vacancy, and they should still offer all of the free rent concessions that they would offer to direct deals. Breaking the price parity would quickly [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.renthop.com\/blog\/better-than-no-fee-free-rent\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate Topics, Tips, and Guides\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/renthopapartments\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-26T02:55:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-22T15:36:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.renthop.com\/blog\/wp-content\/uploads\/2019\/11\/nofeefreerent.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Lee Lin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@renthop\" \/>\n<meta name=\"twitter:site\" content=\"@renthop\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Lee Lin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.renthop.com\/blog\/better-than-no-fee-free-rent\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.renthop.com\/blog\/better-than-no-fee-free-rent\/\"},\"author\":{\"name\":\"Lee Lin\",\"@id\":\"https:\/\/www.renthop.com\/blog\/#\/schema\/person\/5877a1d4b27a98e84d9840c6aea99af7\"},\"headline\":\"Better Than No Fee? 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