Recently and unexpectedly, New York State law regulators eliminated a broker’s fee being charged to tenants but not to landlords. So, if a landlord uses a broker, they will now be responsible for covering the broker’s fee.
Technically, brokers can still collect fees from landlords and tenants—it just depends on who hires them.1 What does this mean for landlords? Effectively, it means that if you want to avoid paying a broker’s fee, you’ll need to market your rentals and screen tenants for your business.
Luckily, RentRedi can help landlords who don’t want to pay a broker’s fee
Marketing Your Rentals
When it’s time to list your unit, RentRedi has you covered with free listings to Realtor.com and Doorsteps. Plus, a free marketing page on RentRedi that you can share to your social networks, website, or Craigslist!
Once you input your property or unit details and pictures, they are saved on our site ready to be listed when your unit is ready for new tenants. Simply click “List Property” and your posting will be listed on Realtor.com, Doorsteps, and RentRedi.
You can input property and listing details such as: lease term, structural details, parking, income restrictions, included utilities, pet and smoking policies, amenities, outdoor space, nearby recreation, security and accessibility.
RentRedi landlords also have unlimited tenants, units, listings, and teammate accounts so they can connect all of their team members or any maintenance personnel for free.
Screening Prospective Tenants
Get higher-quality tenants with our tenant prequalification, screening, and application.
RentRedi enables in-app tenant prequalification so you show your unit to the best three, not the first three. Tenants can prequalify directly from the listing or via email invite from the landlord. Prequalifications the most effective prescreening for landlords and saves time showing the unit to tenants who don’t meet minimum income requirements or have pets for a no-pet unit.
We also have tenant-paid screening from TransUnion with full credit, criminal, and eviction reports and leasing recommendation. You can either request tenants fill this out or turn on auto-tenant screening, which makes tenant screening a required step of the application and you receive the application and screening all at once. With the click of a button, prospective tenants receive your request for screening.
One-click “Accept” or “Reject” for prequalifications and applications: After reviewing an application or prequalification, landlords can accept or reject applicants with just one-click. Prospective tenants will receive a notification on their mobile device as well as an email with your decision.
Want to avoid a broker’s fee? No problem.
With RentRedi, you can avoid paying broker’s fees by marketing your rental and screening tenants yourself. We make it easy to manage your rentals, tenants, team, properties, and money—all from one place. A broker’s fee can cost you one month of rent or 15% of the annual rent. RentRedi costs as little as $5/mo. Save your money for your next vacation and not the broker and sign up for RentRedi today.