0% Vacancy
RentMonster will get you there!
Accurate & Predictable Leasing Cost Percentage
When looking at your proforma, RentMonster can be found in the “commissions, concessions, & loss to lease” section, which you deduct from Gross Potential Rent. Rather than guessing if that billboard, radio ad, or pay-per-click campaign actually ended up yielding leases, RentMonster’s one time, commission only pay structure, means the actual GPR reduction percentage depends directly upon how long each lease ends up lasting and how long the owner holds the asset. This means your cost estimates are accurate & predictable.
For example, if you have 100 units at 50% renewal, in the second year of the hold, 50 of them are still paying rent without any additional cost – no annual bill, no listing fee, no renewal fee, nothing. That means RentMonster’s commission of one month’s rent for a twelve month lease comes to 5.6% if the property is sold after exactly two years. A more realistic example might be a five year hold, with a 65% renewal rate, which comes to 3.3%. The longer the asset is held, the lower this percentage gets. Also, if you use RentMonster for leasing and you follow our advice on pricing, there should never be any loss-to-lease at all. The rents in your RentMonster informed proforma are the rents we will get you.
Speed is Vital!
Certainly your office and/or onsite staff will do everything they can to lease your units, but they have many other important jobs as well. At RentMonster, LEASING IS ALL WE DO – your management staff has to manage collections, reporting, maintenance, AND LEASING, as well as countless other obligations. So think about them carving out 20% of their time when we spend 100% of our time. The FASTEST solution for lease-up is to optimize the entire process. We do this by customizing our role in leasing to work seamlessly with your people, in support of them and their existing processes. Our agents are specifically trained to work closely with your staff to be as effective as possible, thereby helping your folks function as efficiently as possible.
Zero Risk - No other source can say that.
Since RentMonster (unlike an internet listing service) never sends any invoice that isn’t tied to an actual lease, and NEVER charges an annual listing fee, or any other fees. You know exactly what the costs are as related to the revenues generated. RentMonster never sends an invoice until after the new resident has leased.
The owner already has the deposit and first month’s rent before we invoice, so it is impossible for RentMonster to ever have a negative impact on cash flow. Our cost is always truly risk free. You know you’ve gotten results before you ever spend one cent.
Even better, RentMonster has a 100% Guarantee! – If a resident breaks their lease without approval or is evicted for any reason, RentMonster will re-rent that unit for no commission. Again, no other marketing or leasing option can say that.
Our Partners Can Attest
Gayle at Kahn Properties said:
“RentMonster has the highest applicant-to-lessee rate with our company and also has the highest rate in those lessees renewing for additional years after the first lease term expires.”
Joe at Dwell Properties said:
“RentMonster has provided my properties outstanding leasing services since their inception. I am more than comfortable recommending RentMonster to apartment owners, operators, and apartment prospects.”
Frequently Asked Questions
There is NO term to our Listing Agreement. Either party can cancel at any time.
Absolutely! Many multifamily owners and operators require as much as $1M in General Liability for leasing companies. RentMonster carries $2M in G.L. and during the initial setup, we will provide you with a Certificate of Insurance with your ownership entity listed as additional insured.
RentMonster offers a rent analysis that is simply the most accurate possible. Just as a good broker or asset manager might do, we conduct a thorough market analysis, look very specifically at the relevant comps, and factor in amenities, location, etc. However, in addition to this, RentMonster also has first hand knowledge of what has rented recently, how quickly, what the push-back was at various price points, which features and specials were a big draw and which weren’t. These aren’t published market rate rents we’re analyzing, these are the actual rents that we have gotten for those other properties. A broker’s opinion is useful, but it just can’t touch the very real perspective that RentMonster has. And remember, as a commission only source, our incentives are aligned with yours. We want to get you the maximum rent with the shortest vacancy. We offer this service for FREE to all owners and operators who use RentMonster for leasing.
We start by sending the Listing Agreement via Docusign. When we have that back, we order your COI from our insurance company. At the same time, we’ll schedule a tour for our agents to meet your staff, learn the property, and open the vital lines of communication among all team members. Then, we start filling those units immediately!
