If you want to know the different ways Apartment.com makes money, you will find this article very helpful.
It reveals exactly how Apartment.com makes money, including some that you may not be aware of.
You have decided to move from your apartment.
The rent has just spiked considerably or perhaps a new job in a new city is the motivating factor of the search for a new apartment.
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So, the search is on.
Where to begin?
A good start is with an online apartment finder website site.
From the convenience of your current apartment, you can go online and search for a variety of housing options in the city of your choice.
The process, in addition to being convenient, will provide all of the information you need to know about your potential new home and often offer a virtual tour of the apartment.
One such apartment-finding website is Apartments.com.
Let’s go apartment hunting.
What Is Apartments.com?
Apartments.com is a go-to apartment finding website that makes sure that their data is as up-to-date as possible.
This website is a trusted and reliable resource for returning customers as well as potential customers.
This website does not sub-lease apartments, lease, or broker apartments for rent.
The website boasts of over one million listings in a variety of cities across the United States of America
Apartments.com is a comprehensive apartment location site that lists not only apartments but residential homes, townhouses, and condos as well.
To start a search for an apartment, you would access this website and pick the location of where you wish to search for an apartment.
Once that city has been inputted and the search button is clicked you then will be offered a variety of filters that you can check as it relates to what your particular needs are.
Some of those filters include the number of bedrooms, the price range, amenities, whether it has a garage, pool, etc.
Once you have checked all of the appropriate filters you then can do your search and you will be provided several apartments or other residential listings.
You can simply click on the apartment that captures your interest and often you will be provided many pictures and sometimes a virtual tour of the apartment that you are looking at.
In addition to providing a listing of homes that are available in a variety of cities, the website also offers practical advice to individuals who are renting.
Some of that practical advice is in the form of articles that are posted on the website.
Examples of some of those articles include what to do if your roommate doesn’t pay their portion of the rent, apartment security, how can you rent after being evicted, moving tips, etc.?
Interestingly, Apartment.com utilizes a significantly sized research team that has visited a variety of locations and, according to the website, has photographed over half a million properties nationwide.
Also, their team of professionals keeps up-to-date on apartment listings by making phone calls to the various apartment owners and managers of the property to verify that the current information available is accurate.
The website indicates that over a million phone calls are made each month.
How Apartments.com Make Money
Apartments.com is a site that is available at no charge to individuals wishing to locate a new residence.
They rely on several ways to generate income.
The highest advertising level that a landlord or management company can purchase to advertise their listings on Apartments.com is at the diamond level.
Choosing this advertisement level gives them the largest ad size and also places their listing on eight associated websites affiliated with Apartments.com.
Also, with this advertising package is the option to post video production, 3-D tour production as well as offering ratings and reviews and rent specials.
The advertiser is given a variety of analytical reports.
At a different level of advertising is the platinum network advertising special.
The sorting order of this particular package is less than the diamond but more than the gold.
With this package, the advertiser is listed on eight websites along with other benefits but not as inclusive as with the diamond package.
The gold package offers less exposure than the platinum and diamond package and provides a medium ad size of the listed property.
With the gold package, on the search results, there is a third placement of the listing.
With this package, the advertiser is listed on seven websites and has other assorted benefits that are less than the two premium packages but more than the silver package.
This package is the lowest advertising package offered to property owners and includes a standard ad size.
When a search is done their listing will be in the fourth placement on the results page.
With the silver package, the listing of available property is on five websites as well as other benefits but less than the three top-tier packages available.
The contractual amount for all of the four packages is not listed and the advertiser needs to contact a representative.
When a renter makes an application to enter into a lease with an available home or apartment, there is usually a background check conducted as well as the pulling of the potential renter’s credit report.
If Apartments.com provides this service to the potential tenant, there will be a twenty-nine dollar fee, plus tax assessed to the applicant to obtain that application and obtain various screening reports.
If the applicant is not accepted by the property that they are trying to lease from, the documents are made available to the individual so that they then can provide those same documents if other applications are made to other rental facilities.
These documents are considered up-to-date and can be used over a thirty-day timeframe.
Credit Card Fees
As it relates to collecting fees for the use of credit cards when posting or listing a property on Apartments.com there is no fee assessed to the advertiser.
However, if the renter of a listed property sends a payment using either a debit or credit card, to pay their monthly rent, there will be an assessed fee of 2.75% collected by apartments.com.
Charges – Mobile App
One other way that Apartments.com realizes revenue is when a potential tenant utilizes the Apartments.com app in making an application for agreeing with the landlord or management company.
The fee is $29 and the renter can make up to ten applications on participating listings.
This is for 30 days.
The benefit of utilizing this service is that the application process is filled out once and can be submitted to several other potential rentals.
The cost is incurred to help qualify the potential tenant and, because of the cost, fewer applicants utilize this process.
Tips for Apartment Hunting
Use an Internet-based Apartment Finder
One of the best ways to locate an apartment for you and your family is to use a website that will help you to find that perfect home for the next period in your life.
Often, on these websites, you will be able to locate homes in the city that you will be living in.
Also, many quality sites provide the opportunity for individuals to use a variety of filters.
The filters can help you find places that relate to your particular need as it may relate to the number of bedrooms, what your budget will allow financially, and amenities that you are looking for, etc.
It is important that once you have found an apartment using the Internet that you go to the site and take an actual physical tour of the apartment area and its surroundings.
Landlords and management companies want to show the best of what they have to offer.
By actually physically touring the apartment, you will see for yourself whether the virtual tour or the pictures depict what the apartment has to offer and make sure that the rooms are the appropriate size as well as other features depicted on the website.
Understand the Lease
Before signing the lease, you must understand the terms of the lease.
Specifics of the lease could include what your role and responsibility is when entering into the lease and what the role and responsibility is of the ownership or management of the property.
Critical features of the lease would include any late fees if the rental is not paid on time, whether pets are allowed or not, use of any of the amenities on the grounds, etc.
Even though an apartment that you have seen on the Internet and have physically observed, it is still important to shop around.
By looking at all of the possibilities, you will fully review all of the possibilities to make sure that your new home not only looks good but feels right.
Also, by shopping around you may be able to broker a better rental deal or lease agreement by interacting with the landlord or manager of the apartment.
Review the Area
When looking to move to a new area and entering into a lease on the new apartment, it is important to review the area in which the apartment is located.
It is important to take in the neighborhood and evaluate the surrounding area as it relates to how the area appears.
For example, does it look trashy or unkempt, are there individuals that loiter about, or how well are the buildings surrounding the apartment complex maintained?
Also, it is important to be near retail stores or grocery stores that are easily accessible and within a short walking or driving range.
Additionally, there are a variety of websites on which you can check criminal activity in the area.
This is an important consideration to be aware of what if any crimes are being committed in proximity to the apartment complex.
My wife and I were moving from one city in California to another city located a couple of hours away.
I had gotten online and used an apartment locator and found a few possibilities.
Armed with downloaded printed sheets we went apartment hunting for the day.
We had this one shot to find a new home in a new city.
After our fifth or sixth actual physical tour, we remained undecided until our last stop of the day.
Some of the apartments we toured lived up to the listing on the website while others didn’t meet our comfort needs as far as their location.
The final apartment complex we visited, thankfully, fit the bill and we were able to complete a lease agreement.
As I think about apartment hunting today it is amazing.
I think about looking for a new apartment while living in our old apartment and living in our current city while looking to move to a new city.
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How Apartments.com Makes Money FAQs
When Do People Move the Most?
It is estimated that 40 million people move annually.
These moves often take place between April and September.
What Are the Top Three Considerations When Looking for a New Apartment?
The first and top consideration would be the cost of the monthly rental.
A person should stay within their budget and consider the other associated costs such as any association fees, utilities, etc.
The second consideration would be location.
Is the apartment being considered close to essential stores, is it in a safe neighborhood, etc.?
The third consideration would be the lease.
Questions such as the length of the lease, terms, etc.
You Can Do It
Moving used to be a stressful process.
A huge aspect of that stress was to find a new place to live.
Today, some websites have done the apartment location work for the individual.
And to think it is right at your fingertips and you don’t even have to leave the comfort of your current apartment to go apartment hunting.
Apartment hunting has significantly evolved.
In times past the classified section of the newspaper was the only source of finding vacancies.
Now we ask what is a newspaper?