So the tenants just show the property themselves?

By
Real Estate Agent with RE/MAX Suburban
https://activerain.com/droplet/4GY6

So the tenants just show the property themselves?rently

Really .....

We've all heard of newest & brightest real estate schemes but I've come across a recent company that takes this to a new level. It's called Rently and basically 'anyone' can RENT a Sentri Lockbox and have tenants, contractors or just about anyone get the code & access a key to the property.

Here's an excerpt from their site:

"Rently is a premier lockbox rental showing solution. Utilizing Rently’s lockbox rental solution renters can instantly and securely access properties at their convenience. This method, also referred to as Self Service Showing, is becoming the industry norm as property managers save money and lease faster than ever before."

So now someone has thought up the idea of renting lockboxes to unlicensed people? Not saying that isn't a good or bad idea but the next paragraph says it all about their intentions:

"Using Rently, you’re going to generate more leads than ever before. With our system, everyday is an open house and renters will be able to see your properties at the time that best fits their needs. Self-service showings equal more qualified leads coming in around the clock: even during after hours and weekends. More leads in less time means you’ll be leasing faster!"

Everyday is an open house?

Self service showings?
 
Sure with 'self service' showings I'm sure that the property will be protected & secured by these tenant applicants at all times. Uh huh, sure. Seems like a bad thing waiting to happen but really no difference than if you went & put a combo lockbox on the property & just emailed everyone a code.

RentlyBut wait Lyn, before you go & get yourself all upset - that code changes all the time or are you giving out the 'contractor codes' which are assigned to the lockbox itself.  In other words, not much better than putting on a combo if the tenant just felt like coming back to the property on multiple occasions or became a squatter heaven forbid.

In my area of Northwest Illinois, my board has decided that we cannot use 'one day codes' because they thought security was getting lax. Providing utmost security for the seller has always been the primary intent of choosing a secure lockbox system. Now this doesn't mean that other area boards can follow this practice because they have not.  This would hold true with Rently also, they are not a member of our board BUT the users are a member of our MLS.

Rently & it's agent customers should have to follow the same rules that other area agents have to abide by.

Or .... is that really true?  What's wrong with using our Sentrilock system for another purpose that no one's ever thought about before?

Or ... are you as mad as me that you didn't think of this?

 

Anyone want to rent my lockbox?

 


Posted by

 

lyn sims remax suburban  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)230-7324
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Best Practices
Location:
Illinois Cook County
Groups:
Active Rain Newbies
Realtors®
Bartender, Make it a Double
Tags:
property management
sentrilock
tenant screening
rently

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
3,983,315
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It would be a cold day in H that I would even think of doing this

Aug 07, 2015 11:04 AM #8
Rainmaker
579,324
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

It's a convenience for the property manager, but not for the owner. At least they aren't handing out the keys like some other PMs I have met in the past. Doors are left unlocked, lights on, anything could happen! Surely it's similar to the combination lock box and not as secure as electronic updates??? Whatever the case, risky business.

Aug 07, 2015 11:28 AM #9
Ambassador
3,092,697
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

This sounds like it could be a joke.  It's just plain insanity.  Who wants to let anyone and everyone in their home without qualifying them?

Aug 07, 2015 01:52 PM #10
Ambassador
3,092,697
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Featured in the group:  BARTENDER, MAKE IT A DOUBLE.

Aug 07, 2015 01:53 PM #11
Rainmaker
4,103,176
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lyn, sure doesn't sound very secure if just everyone can access, and no consequences due to unlicensed showings! 

Aug 08, 2015 03:16 AM #12
Rainer
15,875
Kim Stuart
Domino Research - Pleasanton, CA
Mobile wallet marketing consultants

So...  we're in the process of moving to a new state and we flew over to look around last month.   We're going to rent until we are sure we want to stay. 

One of the management companies uses a similar setup.  BUT - you have to 'purchase' a code from them - 99 cents - to get access to the box.  They weren't clear on whether it was .99 per box or just a one time fee.  You tell them the address, pay the fee via credit card, and get the code to the box.  

After you've looked at the property, you text them and let them know you've seen it.  According to their listing, they'll text you back and find out if you want to submit a rental app, and if so, they'll give you the URL to do the submission and pay for that. 

On the one hand, I see where it cuts down on wasted time, since someone who won't pony up 99 cents probably is a lookie-loo, and I also see where it might create a false sense of security for the mgmt company, although I am not sure if they're allowing pre-paid Visa/MC card transactions - which would completely negate any real information from the viewing party.  

I spent 13 years in online transaction processing, so half of me says, WOW, that's a great way to collect money from people, and the other half says they must have such a great rental market that they can get people to agree to that. 

So that's the way that one company is using a similar situation to their benefit. 

Aug 08, 2015 09:12 AM #13
Rainmaker
1,542,880
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Kim:  That's a great story & I wonder if that is happening to make up the monthly $30 Rently fee? Seems like the costs to process the .99 might overshadow a profit though?

Joan:  I just think that there is way too much that can happen with no one really working for the owner. I've seen where tenants unlock doors & windows on purpose & you wonder why they do that. Just not very secure or smart IMHO.

Chris Ann:  Ready what Joan has to say above & I guess more of this is happening than we realized.  Thanks for the feature!

Bill:  Having your own lockboxes is part of the business.

Pat:  They have the assumption that nothing can happen because the property is vacant. Well, how about all the appliances disappear one afternoon?

Aug 08, 2015 10:54 PM #14
Rainmaker
1,078,726
John G. Johnston
John G. Johnston & Associates, LLC - Westcliffe, CO
An Exclusive Buyer's Agent ~ Westcliffe, CO

I can't imagine the liability and insurance claims.  Wha tpossible defense is there?  Thanks for posting...

Aug 10, 2015 10:44 AM #15
Ambassador
3,983,135
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I don't want one of my tenants showing my properties. There is too much at risk and it has all the signs of laziness smacked across it.

Aug 11, 2015 03:07 AM #16
Rainer
15,875
Kim Stuart
Domino Research - Pleasanton, CA
Mobile wallet marketing consultants

I think they're probably keeping about .75 of each .99 they're collecting, but I have no idea how many times they're collecting it.  If they're using it for some sort of identity verification, that's just crazy. 

I should clarify, the properties they were doing this for were unoccupied, no tenants. 

Aug 11, 2015 06:42 AM #17
Rainmaker
3,248,015
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Lyn

That has the makings of a nightmare . . . .

Good luck and success.

Lou Ludwig

Aug 15, 2015 02:24 PM #18
Rainer
15,875
Kim Stuart
Domino Research - Pleasanton, CA
Mobile wallet marketing consultants

OK, I have an update, as we're back in town looking at rental houses and have now gone through the process, which turns out to be Rently.  Two different property mgmt companies use their lock boxes, and the second property we visited had the Realtor® logo on the Wireless box.  

For the first property, we had to call a number, they texted back to the cell that we were using and registered online with a user name and password (and the .99).  Then when we got to the property, we called a number and entered the sticker code from the box.  We got a code for the box (that's supposed to last an hour) to unlock it.  

 

When we got to the second property, we went to the Rently website and logged in, did a repeat with the serial # from the box and got that code for an hour. 

 

Don't know what happens after an hour, I'll assume that they decommission the code.  We had two different codes for two different boxes, so they're not assigning one code to one phone either. 

Aug 20, 2015 06:07 AM #19
Rainer
15,875
Kim Stuart
Domino Research - Pleasanton, CA
Mobile wallet marketing consultants

Rently box

Aug 20, 2015 06:08 AM #20
Rainmaker
1,542,880
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Thanks Kim for the update. So it's costing you money to look at these places & seems a little time consuming also. Not to mention you better be handy with your phone or tablet to do this stuff.

Same looking Sentrilock used here.

Aug 20, 2015 10:27 AM #21
Rainer
15,875
Kim Stuart
Domino Research - Pleasanton, CA
Mobile wallet marketing consultants

So yes, it did cost us 99 cents to get into their system.  

 

HOWEVER... since I first posted about it this afternoon, I went to the Rently website just to look around.  They have a list of all properties that are using them, with the property descriptions. 

We found several other properties we had not seen before in Z or MLS, and one  would be fine for a year, bit bigger than we'd want but we could make do for the location.  

On another note, it is so easy to use it, I can't see that people won't like it.  There's normally a QR code and a serial number on the yard sign, and you enter the serial or scan QR code, then enter the lock box code and it texts you an access code right then.  No appointment, no meetings, no nothing really.  It sends you a survey to fill out afterwards. 

I'm utterly appalled at what one of the property management companies is showing here.  It's complete filth.  Place isn't clean and it looks like it was an eviction.  We wouldn't use that mgmt company now if it was the Taj Majal for 2k a month...

Aug 20, 2015 02:24 PM #22
Rainmaker
682,860
Sidney Kutchuk - Realty Works Temecula Kutchuk - Realty Works Temecula
Realty Works Temecula - Temecula, CA
Realty Works Temecula

It's just .99 to register with the property manager. This gives the client 30 days to view and get codes to any other homes that is available from that same property manager with no other charge. This is so easy to use and secure.

Dec 08, 2015 12:16 PM #23
Rainmaker
1,542,880
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Secure? What BS are you believing? So you're saying that it's perfectly OK to give out keys to strangers on a rental? You feel NO responsibility if people do damage?

It's even worse that I thought - .99 access for 30 days like an app or trial subscription?

Why don't you BUY A LOCKBOX & take it as a write off?  Admit it you are too cheap to buy the tools necessary to do your job!

Dec 08, 2015 11:10 PM #24
Rainer
15,875
Kim Stuart
Domino Research - Pleasanton, CA
Mobile wallet marketing consultants

We had no trouble getting codes from properties that were managed by different companies, on the same 99 cents, back in August.  

Easy to use, yes.  From a prospective tenant standpoint, absolutely. 

 

Secure, I'm not so certain.  Had we known of a locksmith or key cutter close by, it would have been dead simple to run over and get a new key cut in way less than the allotted hour that the code should work - and if we hadn't shut the lock box, then I'm not sure that the hour would have made any difference since it wasn't physically closed.  

So as the property owner, I'm not convinced.  And as a tenant renting one of these properties, I would be concerned as to just who has a key (of course, that was a concern we had on a NON-Rently home and paid to have the locks changed on the new place with the owners consent) and how they got it. 

Dec 09, 2015 02:02 AM #25
Anonymous
Kiley Klausmann

I have used Rently before. The lock box codes scramble with each new user. No person will ever have the same code twice. Before the code is sent to the tenant applicant a screen on their debit/ credit card is verified. No pre-paid cards are accepted, no stolen cards. The .99 charge is a one time fee after the person registers on Rently. They then have 30 days and can view up to 20 properties from that management company only. after the 30 days their account is closed automatically. They can always register again if they decide to do so. If anything is damaged or stolen from the property then the person that saw it last and put their information in is held responsible. This leads to more qualified people looking at the home. And no one wants to be held liable for a home that they are seeing and have their debit card on file so I believe that almost anybody would be responsible and respectful to make sure that the home is locked up correctly and the lights are off ect. It holds people accountable. People that are not serious about the home wont bother placing their debit/credit card on file. Now I am sure that there could still be a way for someone to cheat the system and do some damage but if the property manager does frequent drive bys of their vacant homes then I'm sure that would help solve that problem. Also to avoid the key being copied within the hour that someone is looking at the home. All locks are changed once the home has an approved application and a move in date set. This makes sure that the new tenant has a new set of keys and voids the possibilities that someone out there has a copy to their new home. Also its not like you don't know when someone enters the home. Every time the lock box is unlocked the owner or property manager receives an email or text notification that the lock box has been opened. It also provides the persons name, number, and email address as well as the date and time they entered.

Dec 29, 2015 03:36 AM #26
Rainmaker
1,542,880
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

So who do you work for #Kiley Klausmann?

Dec 29, 2015 07:37 AM #27
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
1,542,880

Lyn Sims

Schaumburg IL Real Estate
Need help with Schaumburg Area Real Estate?
*
*
*
*
Spam prevention

Additional Information