- Real Estate
Learn The Secrets to Starting An Apartment Finders-Locating Business
The Rental Locating Business
The rental referral business is one of easiest and most powerful business you can start. It required no special talent other then wanting to succeed, and making phone calls. It's totally easy to learn and succeed with this because every business loves referrals for one simple reason.
It's free advertising for their business. (Not to mention that the rental agents work on commission also, so everybody wins) so anybody that wants to passively represent them, and sends referrals directly would be totally willing to accept business from your efforts. Who wouldn't? There are plenty of rental opportunities in this industry.
With so many homes in foreclosure there are more homes that need to be rented then ever before. Take a look at online classified advertisements for homes for rent. It's astounding how many there are. That is where you come in, find renters, and collect your finders fee in the same manner you locate apartments. Simply advertise (for free explained later) put renters with owners of homes for rent and collect your fee. This is truly a win-win situation that you should always keep in mind as a sideline for extra income.
Frequently Asked Questions: Can I do this in my spare time? Yes, collect the free material, choose properties you want to promote utilize the free advertising methods outlined in this book and just sit back and wait for the calls to come in. How much money do I need to get started? There is no outlay of upfront cash in order to start an apartment locating business but you will need a phone (cell, or home), a fax machine (easily obtainable at any goodwill, and transportation to check out the properties you will be promoting.
The Apartment Guides are free usually provided at most local grocery stores at the front entrance. Additional advertising is low in cost however I suggest other methods in the beginning. (Covered later in this book.) Do I need a business license? Yes, any business is required to obtain a business license usually around $60 or less so check with your local agency or go online to obtain the forms required. It only requires you complete the application and pay the fee. That's it! What about all the other Apartment Locators, can I compete? It's obvious There are literally thousands of apartment complexes, townhomes, home rentals and condo's in virtually every city in every state. Not to mention all the homes in foreclosure as well.
The first thing you will need to do is compile a list of apartment and condo complexes to put under your referral fee contract. In other words, you need to put together a list of rentals you will locate renters for. I suggest you section off at lease 5 areas of your county or town to start with.
Rentals Of All Kinds Need Locators Use the best areas first because the rents are higher, and that is where you will make the most income. Remember, you will get 50% (or more) of one months rent as the referral fee, so the higher the monthly rent, the more you will make. In some towns, depending on what the market will bare. Some properties the going rate is 100% of the monthly rental as a referral fee.
Every Renter Will Need You It all depends on what state you live in, and what the market will bare. As you know, rentals are on the rise because of the sub-prime mortgage fall-out. At the time of the publishing of this book, there are plenty of eager homeowners desperate to rent their property. You could even advertise for HOMES ONLY, and make a living since so many people have families, then lost their homes, can't refinance, but still need a house to live in because of the number of children in the household. They are everywhere, so take full advantage of locating for homes as well.
The GOING RATE IN MOST STATES IS 50% TO 100% OF THE MONTHLY RENT and property management companies and rental owners will be happy to pay that if you can fill their rentals. HOME OWNERS TOO...Remember, their mortgage doesn't stop simply because it's vacant. Refer a prospective tenant to a 2 bedroom that rents for $800. per month, your referral fee would be $400.00 If the rate is 50%. Some go to 100% of the monthly rent. Get it? This would be your referal fee. Place desperate renters 4 times a week and you could easily clear 1600 per week.
You will have to contact each apartment complex you plan on locating for to make sure they are willing and ready to sign a referral contact with you. There should be no problem, but you must inquire up front. Just go with family size properties and you should be just fine. The owners will be happy as well since they don't pay you until someone is accepted. It's that easy! Here's the full instructions on how to start an apartment locating business. And at a great price for a full plan on starting a small business. Give a try to be serious. You cant go wrong if you follow these simple to follow instructions. Try
AND GET STARTED. Make sure you follow up after each placement. Some management companies have a net 30, 60 or 90. It's best if you show up to the credit check to make sure the management and/or owner remember that it is "your" client for future payment. Stay till the client is accepted then have the agent sign a receipt.