RedfinNow is suitable for sellers prioritizing speed and convenience over maximizing sale price, while Apartments.com Rental Manager is ideal for landlords seeking to streamline rental management for a small number of units.
| Attribute | RedfinNow iBuyer Service | Apartments.com Rental Manager |
|---|---|---|
| Service Area Coverage | Available in 23 markets across nine states and the District of Columbia, including Boston, Inland Empire, Los Angeles, Orange County, Palm Springs, Phoenix, Sacramento, San Antonio, San Diego, San Francisco, Seattle and Tucson. In Seattle, it covered parts of King, Pierce, and Snohomish counties. In the Bay Area, it was available in the East Bay and South San Jose areas. | Not available |
| Offer/Service Speed | Provided a 'top offer' within 24 hours of viewing the property. Sellers could get a cash offer within a few days of making a request. | Streamlines the rental process with tools to list properties, screen tenants, create leases, and collect payments |
| Offer Accuracy vs. Market Value | Offers were typically 5-15% below market value. | Offers rental comp reports to provide insights into property values |
| Closing Timeline Flexibility | Sellers could pick their closing date, typically between 10 to 90 days after accepting the offer. A closing window of 14 60 days was also offered. | Not available |
| Inspection Requirements | Required a third-party home inspection, usually within 7 10 days of signing a contract. Additional inspections, such as roof inspections, were sometimes required. | Not available |
| Repair Cost Deductions | Repair costs identified during the inspection were deducted from the offer. Sellers could either accept the reduced offer or cancel the sale without penalties if they disagreed with the repair estimates. | Older rental properties usually require more repairs and maintenance than newer ones, which may result in higher fees |
| Service Fees/Commission | Charged service fees and closing costs that totaled 6 16% of the home's sale price. The service fee ranged from 5 13%. Closing costs typically amounted to 1 3% of the home's sale price. | Apartments.com Rental Tools and its associated payments feature are free to use. Renters can pay with their checking account (ACH transfer) for free. However, renters will be charged a 2.75% fee if they choose to pay with a credit card, debit card, or Google Pay. Applicants pay $29.00 + tax for their application and tenant screening reports. |
| Property Eligibility Criteria (age, condition) | Generally purchased homes valued between $150,000 and $1.5 million. Eligible properties were typically single-family homes or townhouses/condos. Homes generally needed to be built after 1960 (in some markets, after 1930 or 1900). The lot size had to be under half an acre (or one acre in some markets). The property needed to be owner-occupied or vacant and in good condition with a clear title. Ineligible properties included mobile homes, homes in age-restricted communities, those with unpermitted additions, and properties with major foundation issues. | Suitable for managing 10 units or fewer but may not meet the needs of larger portfolios. |
| Financing Options (if any) | RedfinNow was a cash buyer, so sellers didn't have to worry about financing contingencies. | Not available |
| Rental Application Management Features | Not available | Provides a user-friendly platform for tenant screening, gathering necessary information, and finding qualified renters quickly. It partners with TransUnion to provide screening reports. |
| Tenant Screening Tools | Not available | Offers tenant screening tools, including credit, criminal, and eviction data |
| Rent Collection Options | Not available | Offers online rent collection, allowing you to receive rent payments and security deposits safely and securely. Tenants can set up automatic rent payments. Express Pay allows you to receive ACH payments a day sooner |