mynewplace and rentwiki charge by the lead and or email. I get the sense that if you don’t pay they just won’t pass along your contact information to perspective residents. Is it just me or does this seem nuts? I love the idea from a business perspective. That said, why would any owner subscribe to this model given all the free resources in the market place.
Along the same lines Rent.com is reportedly forcing the issue with its referral service. That is to mean, if a prospect moves to claim their $100 and the community proves the lead came from some place other than Rent.com doesn’t care. I am working to get further information and only post it here for that reason.
I look forward to your thoughts on this. Please drop us a your comments when you have a spare moment.
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What are the free resources you’re referring to?
Free to the renter? Or free leads to the owner/manager. I thought all these services basically charge the owner for the listing, lead, or lease.
Mike,
I am not quite sure I understand your question. At MyNewPlace, we offer two models for advertising on our site, subscription and pay per qualified lead.
Are you simply saying that it is not worth the amount of money you would be charged per lead ($15)?
If you can fill your vacancies without spending any money on advertising, then that is great.
We have seen that that is not the case with most apartment communities and that we offer the most cost-effective way for those apartments to reach out to renters looking for apartments.