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Apartment Rebates 101

aptsherpa · Oct 12, 2005

Whether this is the first time on your own or you are no stranger to the month-to-month rent, money is tough to come by these days. Too bad each of us don’t have a magic money tree growing in our apartments; however, I have some suggestions for you to save money when you go apartment hunting.

Apartment hunting

Before you get in your car and head off apartment hunting, try to find a rebate:

Thanks to the .com era, we now have many options to find apartment rebates. Websites like Rent.com will give you a $100 rebate if you list them as the source, when you sign a lease.

THEY get paid

Apartment finders get a commission from the apartment complex every time they are listed as the source when you sign a new lease. Each apartment complex wants to increase the traffic flow through the area. Commissions are continually given to apartment finders who can accomplish this task.

Then, YOU get paid

What you need to do first is pre-register at the website. Once you find an apartment that you want to live in from their website, you visit the property and mention you were referred by Rent.com on the guest card. Note: only apartments that appear on Rent.com will be eligible for the $100 rebate. Later, when you sign the lease, be sure to write Rent.com as the reference source. After that, you can then claim your rebate by going back to the website.

Who gives out a rebate?

Another source for a rebate is Relocation Central. Depending on the city you plan to rent in, this website offers up to a $200 rebate. To receive your rebate, there are very specific instructions. The rebate includes a certificate worth $100 at any Cort Furniture Showroom or Clearance Center, and in some cases, an additional American Express Gift Card for $100 30-60 days after you move in.

How much is your rebate

There are many other apartment finders that have the same idea behind them; you just need to find the best deal. We’ve compiled a list of websites that offer rebates in each state.

Keep in mind, you can only claim one of the rebates, so find your best deal and apply for one. Fraud will be prosecuted, so don’t try it!

If you can’t get a rebate through these websites because the property you want to live in is not posted, you have a different option: Call a small apartment finder.

Apartment finders

You should call up a small apartment finder because they will often be willing to split their commission. The bigger apartment finders must split their commissions with a broker, so they don’t have as much room to negotiate with you.

Let’s say you plan on renting a $600/mo apartment in Austin, TX, the commission could be up to $600. Now, if you go to a small apartment finder and tell them that you have a clean eviction history, no convictions, good credit, and show that you have or will do the bulk of the apartment search work, all they have to do is split the commission with you. You should ask the agent for a list of the properties in your area with the highest commission.

If you split a $600 commission, 50/50, that’s $300 in your pocket! One word of caution, write up a short agreement with the agent so you know you will receive the fair commission.

Good luck when apartment hunting, be sure to find the best deals.

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