Do you own a multi-unit property and want to attract reliable tenants who will respect your property and pay rent on time? Look no further. In this guide, we'll break down the best apartment rental sites that can help you find quality tenants quickly and affordably.
Zillow Rental Manager: The Largest and Most Comprehensive Rental Website
Zillow Rental Manager takes the crown as the best overall apartment rental site. With its massive inventory and high site traffic, Zillow offers a wide range of integrated landlord services. Here are the key features:
Pros:
- Huge Database: Zillow boasts a staggering database of over 135 million homes and apartments for rent and for sale, including properties not currently on the market. The extensive listings attract a substantial number of prospective renters.
- Tenant Screening: Zillow incorporates tenant screening, streamlining the process for landlords.
- Intuitive Listings: Zillow's user-friendly interface allows for easy listing creation, including attractive listings with images, videos, and amenities.
- Mobile-Optimized: Manage your listings, communicate with applicants, run screenings, and collect rent through Zillow's convenient mobile app.
Cons:
- Limited Categorization: Zillow lacks the ability to categorize properties to specific neighborhoods. This may be a minor inconvenience if your property is located in a desirable area you want to promote.
- Higher Cost: While the first listing is free, additional listings cost $9.99 per week. Zillow's services are slightly pricier than other rental websites, but the increased web traffic justifies the investment.
- Complex Landlord Services: Zillow's additional landlord services, such as managing security deposits, pet fees, and credits, can be challenging to navigate. The Lease Builder feature is only available in select markets.
Apartments.com: Finding Highly Qualified Applicants Made Easy
Apartments.com excels in helping landlords find highly qualified applicants. This platform charges applicants to apply for listed properties, ensuring that only genuinely interested individuals proceed. Here's what Apartments.com brings to the table:
Pros:
- Application Fees: Applicants using the mobile app pay $24.99 for up to 10 applications within a 30-day period. These fees deter non-committal applicants, reducing the risk of last-minute withdrawals.
- Map Overlays: Apartments.com provides several map overlays, allowing renters to conduct more targeted searches for their ideal properties.
Cons:
- Buggy App: Some users have reported occasional issues with the mobile app's performance.
Avail: Unparalleled Tenant Screening and Management Tools
When it comes to tenant screening, Avail stands out from the crowd. In addition to background checks and credit histories, Avail offers eviction histories and advanced checks for added peace of mind. Here's what Avail has to offer:
Pros:
- Lots of Screening Reports: Avail provides a wider range of screening reports compared to other listing websites, all paid for by the tenants.
- Management Features: Avail serves as a comprehensive rental management platform, assisting landlords in property repairs, rental credits, tenant expenses, tenant communication, and syndicating listings across multiple sites.
Cons:
- Limited Inventory: While you can syndicate listings on other apartment websites, Avail's inventory of listings on its platform is relatively limited. Additionally, the variety of search filters is limited, and there is no mobile app, making it less attractive to prospective tenants.
- Tenant Fees: Avail's free plan requires tenants to pay fees on each payment, which may discourage some from signing a lease.
Cozy: Simplified Rental Management Made Effortless
Cozy offers a straightforward rental management platform that allows landlords to create and market listings, manage properties, and collect rent with ease. Here's what sets Cozy apart:
Pros:
- Comprehensive Tool Suite: Cozy's highly visual dashboard provides a suite of tools, including listing creation, syndication, customizable leases, rent collection, and property management. It's user-friendly and surpasses other rental management platforms.
- Good Tenant Screening: Cozy equips landlords with various background checks, covering credit scores, employment histories, prior evictions, and sex offender investigations.
Cons:
- Needs Digital Enhancements: Cozy currently lacks a mobile app, although this may change with Apartments.com's recent acquisition. Additionally, tenants cannot electronically sign leases.
Zumper: Fill Vacancies in a Flash
If you're in a rush to fill a vacancy, Zumper's "Instarent" feature offers the fastest way to find a tenant. Prospective tenants can browse listings, place a reservation for a small fee, conduct online tours, and digitally sign leases, potentially filling a vacancy within 24 hours.
Pros:
- Instarent Feature: Zumper's Instarent feature allows for rapid vacancy filling, catering to urgent rental needs.
- Virtual Tours: Create virtual tours of your property, saving time for both you and prospective tenants.
Cons:
- Limited Range: Zumper is currently available in only 10 cities. Although it may expand to more cities in the future, currently only residents of New York, Chicago, Montreal, Toronto, Los Angeles, Vancouver, San Francisco, Philadelphia, Denver, and San Diego can use the platform.
- Low Web Traffic: Zumper's web traffic is relatively lower compared to major sites like Zillow or Apartments.com; however, this could change as Zumper gains popularity.
Rentometer: Accurate Rent Comparisons and Pricing
Rentometer shines when it comes to comparing rents and setting optimal rent prices. This platform provides detailed rental comparisons based on property type, size, location, cost, and more. Here's why Rentometer stands out:
Pros:
- Fantastic Rent Comparisons: Within seconds, Rentometer offers detailed rent comparisons, including average and median rent, building type, and listing age. It's a valuable tool to evaluate your property's rental potential even before making a purchase.
- Low Cost: The Pro version of Rentometer costs $19 per month or $99 annually, making it a cost-effective choice for real estate business owners.
Cons:
- No Mobile App: Rentometer currently lacks a mobile app.
Homes.com: Generate Leads for Your Real Estate Business
Homes.com serves as an excellent lead generation platform alongside larger apartment websites. It automatically sends leads from interested individuals to landlords and offers digital marketing tools for effective follow-ups.
Pros:
- Great for Real Estate Business: Homes.com's lead generation and marketing tools are invaluable for acquiring tenants if you own a rental property business.
Cons:
- No Syndications: Homes.com does not currently allow listing syndication on larger apartment websites.
Summary: The Best Apartment Rental Sites at a Glance
To recap, the best apartment rental sites for your real estate business are Zillow, Apartments.com, Avail, Cozy, Zumper, Rentometer, and Homes.com. Zillow takes the lead with its extensive inventory and comprehensive tool suite. While smaller platforms like Rentometer and Homes.com serve as useful tools for real estate business owners, they are not entirely comprehensive.
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Note: The content provided in this article is for informational purposes only. Always conduct your own research and due diligence before making any investment decisions.