Found In: Real Estate
For years now, it is common practice to search the internet for one’s needs. Searching online has the widest reach and scope for the service or product you wanted. For people searching for a place to rent, most people uses Rent.com. In fact, it is currently America’s top internet listing site.
Rent.com is giving renters the required tools to find the most suitable place to live. Their website and apps bring renters and property owners in one place. Users can search the site’s property listings, which include relevant details like contact information, pricing, floor plans, photos, and even virtual tours.
In addition to access to rental listings, the company’s “Moving Center” provides renters with moving quotes all free of charge.
Their Flagship Promo: $100 Rent.com Visa® Reward Card
What better way to entice people about your service than rewards? Though it is a no-brainer, the people behind Rent.com implements this better than their competitors.
Rent.com is known for their $100 Rent.com Visa® Reward Card which is given to renters when they report that they have found the ad listing of their new lease at their website.
Why and how can they give such a promotion? It’s simple: most of the property leasers on their site pay a fee to Rent.com only when they close a lease. When a renter reports signing a lease at one of these properties, the leaser will be charged for the listing fee. In turn, Rent.com rewards the renters for telling them about their lease by offering the prepaid debit card. Everybody wins.
How does one claim the reward card? If you find a property that features the Reward Card, you need to tell the leasing office that you found the property on “Rent.com”. Write down “Rent.com” as the referral source on the visitor’s information card and/or rental application. After signing the lease, report the lease on the Rent.com website within 120 days after moving. You can use the Reward Card to purchase products or services at any store that accepts Visa debit cards. To date, the company has given $100 to nearly 2 million renters.
Rent.com also has an Affiliate Program wherein you can put links to Rent.com on your blog/website. If visitors click your links and is directed to Rent.com to find a new place to live, you can earn $0.20 for each registered renter and up to $70 for each verified new lease.
The System Behind Rent.com
The company has a Pay-Per-Lease Program that is sensible and beneficial to all the participants in the leasing loop – renter, property owner, and the mediator, Rent.com. Their system is trackable and convenient.
Payment to the company is only due when the leaser confirms their move into the property. They also provide a self-serve Pay-Per-Listing program for managers of properties with 1-19 units. For a flat monthly fee, Rent.com provides quality advertisement with no long term commitment as you pay to list only when you have a vacancy to fill. For properties that have 50 units or more, they charge the fee when renters move in and report their move.
Benefits for the Leaser
Rent.com uses intensive marketing techniques. Through the information from their research, the company recognizes opportunities for their advertisers. They understand consumer behavior and uses this knowledge to their advantage – they display moving and leasing products and services at a time when renters most need them. They put the ads in the right place at the right time. They have information when people who are finding a place to rent are mostly online, how long they linger on the website, what they click on next after viewing an advertisement, etc.
Rent.com has honed their craft. They even have a predictive system to which they call the “Moving Lifecycle”. Using this, they put up advertisements on specific timelines based on their understanding of the leaser’s “Moving Lifecycle”.
For example, based on the database they have, the company knows renters start searching for move-related information and products/services in three months before a move. They become more focused in searching for such services in about a month before a move. They make purchases for their new home in about 2-weeks before and 2-weeks after the move. This knowledge enables Rent.com to optimize their client’s advertisement by giving it the most exposure at the most suitable time.
How To Get Started
At their main web-site, http://www.rent.com/, you can start searching immediately for an apartment/ house. Type the location – city or state you are prospecting. After clicking the “Get Started” button, a list of properties will be displayed. Advertisement with their photos at the side, price, telephone numbers, number of rooms and bath, icons that indicate if it is pet-friendly, and eligibility of the Reward Card are clearly visible for your inspection. You are able to compare prices and options at a glance, without even clicking individual advertisements.
If you are interested in an ad, you can click the “Check Availability” button. You will then be transferred to the next page that will prompt you to enter your name, move-in date, and e-mail address. You can also include an optional message to the property owner.
If the property that you are interested in has the $100 Reward Card icon, tell the leasing office that you found about it on Rent.com. After signing the lease, report it on the Rent.com website. After verification, Rent.com will mail the reward card to you. Note that while majority of the properties on Rent.com participate in the $100 prepaid Visa® debit card reward program, others have opted for a monthly advertising fee, making them ineligible for the Reward Card program.
The Success of Rent.com
Since its launch, the website attracted more than 50 million unique visitors in 2009 and is still the most visited rental site more than 5 years in the running. Now, it is averaging 4.2 million unique visitors every month.
With its name already cemented among the renters community, Rent.com can only go upward. Their robust understanding of their market and their unique reward system is un-matched by its competitors. Maybe someday, a competitor will learn a lesson or two from this giant of a company and create a healthy competition that will result in more benefits for renters and leaser alike.