How to rent properties without deposits or agents?
A simple guide on how to rent properties digitally without deposits or agents, and pay half on first month’s rent.
Think travel, stock trading and dating. Before the age of Internet, agents play a crucial role in matchmaking. Today, you can book a flight, hotel, trade your stocks and even find your lifetime partner online from the convenience of your PC and mobile, anytime -anywhere.
This is all possible because Internet is the communication enabler be it human to human or machine, instantly and effectively. So why not renting a property?
Property platforms existed today were mainly focused in connecting owner or renter with the agents. Agent is still the glue for the relationship by communicating with both parties; hence the perceived importance of agents in today’s world.
What if a platform that focused solely on connecting owner with the renter by facilitating both parties to chat directly? Now, that opens up the possibility of renting houses direct, DoItYourself! (DIY)
For Property Owners, please read on
OK, So Should I Lease Direct?
Check your profile with the following comparison table for suitability:
- Wish to save commission
- Wish to know the tenant personally.
Hybrid (DIY + Agent)
- Don’t mind paying commission to agent or putting in a little effort DIY.
- Most importantly the property is leased out ASAP!
- Don’t like hassle at all.
- Too busy.
- Physically not around to show houses.
You should easily identify your profile.
As a general rule of thumb: if you can’t spare 12 hours a week for 24 weeks, you should hire an agent exclusively.
Else, you fit easily into the Hybrid profile where you DIY and at the same time appoint an agent.
But, How Can I DIY? It sounds messy.
It is messy, and Speedrent was launched in 2015 to address this pain point with one mobile app
to rule it all. Let’s walk through the flow:
Advertise, Filter, Chat, Signing Tenancy Agreement All done online.
Speedrent organised the entire flow into the app
You take beautiful HD photo of your house, the more details you take, the more attractive it becomes. And the prospective tenants you attract would be more serious.
Advertise your property in Speedrent mobile app as shown above
A prospect can submit their interest with their profile, you can filter them over there
Proceed to chat and arrange a viewing appointment
Meet the tenant face to face and show the house.
Got a deal? Speedrent offers online tenancy agreement signing service. No paperwork and it’s legal!
Now, with only 6 steps to a deal, DIY sounds simple and quick when Speedrent organized it for you, isn’t it?
In actuality, Step 5 is the only legwork you need to do. It takes roughly 12 hours a week for a few weeks. To minimize your legwork, always take HD photos that are representative of the actual unit so that the prospect expectation is aligned by the photos. Therefore always put effort in Step 1.
Wow, Sounds Easy, What Else Should I Know?
Speedrent is totally free for owners! You won’t be charged for advertising on Speedrent. There is also no commission charged when you have successfully made a deal through Speedrent. It is absolutely 100% free.
Speedrent has more than 45k users and growing, with so many successful cases! So long you can find 12 hours a week, you should always always try leasing it out yourself. Maximize your channels and most importantly, get your cash flow going! Whether you want to do it DIY or adopt the Hybrid approach as an owner, start today and use Speedrent. You benefit the most by using both strategies!
For Renters, please read on
OK, Should I Rent Direct?
Check your profile with the following comparison table for suitability
Go Direct to Owner with Speedrent
- You Save 50% First Month Rent.
- Certain Houses – Pay No Deposit Move In.
- Get To Know The Owner – It’s For Your Own Good!
Go Through an Agent
- You Need Recommendation For Place To Stay
When you know the exact locations that you wish to live in, you should always go direct to find the owner. Because when there is no agent involved, owners are more willingly to negotiate, and you get the best deal!
First Month 50% Off!
Traditionally, owners pay the agent one month commission when you rent a house through an agent. However, if you rent through Speedrent, owners save the one month commission that they would have paid the agent. Speedrent wants to create a win-win situation for both owners and you, so as part of the requirement to advertise on Speedrent, owners need to split the savings, 50% with you. So your first month’s rent is 50% off!
And How About No Deposit?
56% of owners that advertise in Speedrent allow No Deposit Move In!
Traditionally you pay 2-3x of your monthly rent as deposit. It’s such a financial pain. With Speedrent No Deposit Scheme, you pay a small sum of fees to Speedrent, and it turns into a no deposit deal. It is that easy!