Online Apartment Rental Industry is Beginning to Move to Rewards

Share Article

Apartment listing websites have been moving towards reward based renting. With the launch by Kinetoscope Media, Inc. of http://www.ApartmentEdge.com, it signals a shift in the industry.

Consumerism over the last 10 years has been moving towards reward programs for customers, and most industries are adjusting to do just that, reward their customers for their business. Online apartment listing services have been slow to adapt to rewarding their customers, with only 2 websites having this model, Kinetoscope Media, Inc. has now launched http://www.ApartmentEdge.com, which seems to be the first in an industry shift towards reward based renting.

The ApartmentEdge website is offering the prospective tenants from $200 to half a month’s rent for sourcing their next home through their site. Landlords, to fill vacancies have been listing on the vast majority of online apartment listing services which charge subscription (monthly) fees to the Landlords while tenants receive no incentive. Many metropolitan cities have numerous apartment locator services whereby the service will drive tenants around and show them apartments and will collect a full rental month’s fee to fill the vacancy as a commission. However these locator services do not share these fees with the tenant who uses their service.

Currently Rent.com offers a $100 reward card for sourcing your next apartment through their website and act as the only rental website offering a cash reward. There are dozens of other apartment rental websites, but none of them offer rewards for tenants. The entry of ApartmentEdge.com as a new market competitor offering significant cash rewards to tenants who use their website seems to be signaling a shift in the industry.

As tenants become more savvy so do their choices when choosing an apartment. Moving to a new apartment is an expensive endeavor, and there is no time where a reward can be more useful than when choosing a new apartment.

Speaking to President and Founder, Val Sklarov, “I myself own many numerous multi-family residential properties and when gauging how to best attract tenants I knew offering them cash incentives was the most effective in filling my vacancies. I also paid considerable money to these sourcing services and websites and realized that sharing these fees with the tenant was a serious gap in the industry.”

With ApartmentEdge.com this may be the new shift in the apartment rental industry, reward based renting for the tenants. Along with rewarding the tenant, this site also has an entirely different invoicing structure as they only charge the property upon a signed lease, which is a fundamental shift from the subscription (monthly) model that dominates the industry. With billing only upon delivery of a signed tenant along with a tenant reward based model, ApartmentEdge.com has found an interesting niche and hook which has not been exploited on the web, which is rare. Time will tell whether this significant shift will fully take root in the apartment rental industry.

Share article on social media or email:

View article via:

Pdf Print

Contact Author

David Ashamalla

8477958600
Email >