Adam's Rental Assistance
Why an Hourly Fee?
Unlike buying a home, where the seller pays a decent amount to buyer's agents in the vast majority of cases (usually 3% of the sales price), in the rental market, landlords, if they pay anything to those assisting renters, pay very little in the vast majority of cases. If a landlord is offering a rental agent finder's fee, it's often 10% of the first month's rent, which is usually less than 5% versus what they would receive for a similar home buyer for significantly more than 5% of the work. Some Realtors avoid helping renters entirely. Those that do will often prioritize their other work with sales because of the low or no compensation with rental assistance, often giving those seeking to rent low-quality service. Other agents who help renters to find a place are new agents with low expertise. One of the reasons why most new full time agents don't make it in the business is because of activities that don't make sense financially, with free rental assistance being a common one. Others like myself are able to give renters quality service through an hourly fee, sometimes paid directly by the renter and sometimes paid by a relocation company like one that I used to work for where I helped renters for an hourly fee paid by that company.
I offer rental assistance for a tiered hourly fee in South East VA including admin time like communication with those looking for a rental or the landlords/agents of prospective properties that they've inquired about, transit, & showings. For those that desire it, I can also provide area tours as I did in my previous work with Go Destination Services. That said, most renters who don't have their company paying for relocation assistance (as was the case with my work with GO) opt-out of paying a Realtor to help them find a rental property & choose instead to find one on their own. Note that if I am working with a renter for more than 10 hrs, prices go up by 25%. If my work with a renter goes beyond 20 hrs, prices go up 50% from the original amount. My primary focus is for sales, not rental assistance, & so I must limit my time with that. Conversely, if the total time you need is less than an hr, I'll waive my hourly fee.
Here are the tiers for the first 10 hrs not including any finders fee (sometimes paid by landlords/property managers- not an extra fee tenants have to pay me) if applicable:
$125/hr - Final rental price at or below $1,000
$100/hr - Final rental price between $1,001 & $2000
$95/hr - Final rental price between $2,001 & $3000
$90/hr - Final rental price $3,001 & up
Rebate for later purchase:
If you receive paid rental assistance from me, then close on a home purchase at a later time, I will rebate 50% of your fees up to the lesser of $1500 & 25% of the commission I receive (>95% of the time from the seller) for closing. This offer cannot be combined with another offer & buyers must reach out directly to me in order to receive it rather than going through a referral source that I would need to pay a referral fee to. There is no expiration on this offer & renters can receive assistance on multiple occasions across multiple years up to the caps for a rebate.
1. While it is true that I was contracted out for years by a relocation company including but not limited to being for area tours, rental assistance, & otherwise in Hampton Roads, sales is still my primary focus. When I was contracted out I averaged <10 hrs per week with that while still focusing primarily on sales. I am not as familiar with landlord/tenant customs/law/contracts as I am with residential sales. My greatest assets are in areas of crossover, such as a high volume of crossover education about what to look for in a home both positively and negatively, setting up a search for you, etc. While I have compiled a list of locations to find rentals, & have some crossover information such as for setting up utilities, most of my compilations & resources, as you can see from this website, are geared toward purchases.
2. There are some real estate agents, especially new ones, who are willing to help tenants for free. The lower their sales volume & the newer they are, the higher their chances of being willing to assist.
3. My fees will be cost-prohibitive for most & most agents that are willing to work with prospective tenants who charge fees for rental assistance charge less than me.