Why Rently Charges a Tour Fee: Understanding the Value for Renters and Property Managers

At Rently, we often get questions about why there’s a small fee associated with touring a property. We understand that in the world of rental hunting, every dollar counts. So, we want to be transparent and explain the significant value and benefits this fee provides to you, the renter, and how it ultimately helps create a smoother, safer, and more efficient rental search experience.

This seemingly small charge is part of a robust system designed to enhance security, streamline your search, and provide you with unparalleled support. Here’s a deeper look at the reasons behind why Rently charges a tour fee:

1. Enhanced Security and Accountability: Identity and Credit Card Verification

One of the primary reasons for requiring a small payment and credit card details upfront is to verify your identity. This crucial step helps us ensure that the person touring a property is indeed who they say they are. In the rental market, property managers face challenges like unauthorized access or fraudulent activity. By verifying identities, we create a safer environment for everyone involved.

Furthermore, when renters provide their credit card information, they are naturally less likely to cause any damage to the property during their tour. This fosters a sense of accountability and responsibility, protecting the valuable assets of property owners and ultimately helping to keep rental costs down for everyone.

2. Becoming a “Verified Renter”: Unlocking a Smarter Search

Beyond basic security, the tour fee is your gateway to becoming a “Verified Renter“ with Rently. This is where the real power for you, the renter, comes into play.

Here’s how it works:

• Soft Pull of Your Credit: When you opt for the Verified Renter status, we conduct a soft pull of your credit through TransUnion. This is important to note: a “soft pull” does not impact your credit score, unlike a “hard pull” that occurs when you apply for credit.
• Intelligent Property Matching: With your credit information (accessed through the soft pull), our system can then intelligently match you to properties that you are most likely to qualify for. Property managers set specific criteria (e.g., credit score, income requirements) for their listings. By understanding your basic financial profile, we can help you avoid wasting time on properties where you might not meet the landlord’s qualifications.
• Saving You Time and Money: Imagine spending hours touring properties, falling in love with a place, only to find out you don’t meet the landlord’s credit requirements after paying an application fee. As a Verified Renter, you can potentially save significant time and money by focusing your efforts on properties where you have a strong chance of approval. This can also lead to fewer wasted application fees!

3. Dedicated Support, Whenever You Need It

We understand that touring properties, especially self-guided tours, can sometimes lead to questions or unexpected situations. That’s why Rently is committed to providing 24/7 phone and chat support for renters. Whether you have a question about accessing a property, need assistance during your tour, or encounter any issues, our dedicated support team is just a call or message away. This continuous availability ensures a smooth and stress-free touring experience.

Why Charging for Tours Benefits Property Managers

For property managers, the decision to use a platform that charges a tour fee might initially seem like a barrier. However, this small charge is a strategic advantage, creating a more efficient, secure, and ultimately more profitable leasing process for you.

Here’s how Rently’s tour fee works in your favor:

• Reduced Risk and Increased Security: The robust identity and credit card verification process for every renter who tours means significantly less damage to your properties and fewer scam attempts. Our clients using Verified Renter have seen a 35% reduction in scams. By establishing accountability from the outset, we deter individuals with malicious intent and ensure that only serious, verified prospects are entering your units. This peace of mind is invaluable.
• Streamlined Follow-Up Strategy: Our Verified Renters program is a game-changer for your lead management. Knowing that a renter has undergone a soft credit pull through TransUnion allows you to prioritize your follow-up with prospects you know are a good fit for your property’s criteria. Instead of chasing unqualified leads, you can focus your time and resources on renters who genuinely have the financial standing to be approved, dramatically improving your team’s efficiency.
• Higher-Quality Leads and Conversions: Verified Renters are not just qualified; they are also more engaged. Our data shows that these renters tour sooner, tour more properties, and, most importantly, have a higher lead-to-lease conversion rate. Most Verified Renters tour within 12 hours of their initial inquiry. This efficiency translates to a 10% increase in tour conversion rates, ensuring that property managers spend less time on unproductive leads. This means the prospects you’re interacting with are further along in their decision-making process and are more likely to become residents, reducing your vacancy rates and increasing your occupancy. In fact, our clients using Verified Renter have reached their leasing goals 50% faster than they did before using it.