FAQ'S

LANDLORDS

THE

BASICS

How does it work?
Flat monthly is a marketplace for landlords and agents to list their rental properties. Using the latest 3D and VR technology, digital contracts, online payment gateways and international distribution and marketing it delivers signed contracts to landlords, going beyond traditional property listing websites. Flat Monthly actually facilitates the rental contract for the agent, landlord and tenant.
Why would I list?
Because it will reduce vacancy and increase rental yields. As it provides the landlords with a result-oriented solution to secure qualified tenants for their properties.
What makes you different to other listing marketplaces?
We are the fastest, easiest, highest quality rental marketplace in the world.
How long does it take?

There are so many factors that influence the time to find tenants. What we do know is that there are several key factors that have proven a key success to fast rentals and good yields:

  • 1. Quality 3D photography
  • 2. Realistic market pricing
  • 3. Well furnished and equiped property
  • 4. Flexible, responsive and cooperative terms and conditions
  • 5. Accurate and update availability calendar, allowing instant book agreements

At Flat Monthly, we get all of this and guide and coach landlords and agents to give themselves the best opportunity for a successful rental process.

What does it cost to list?
It cost nothing to list your property on the marketplace. Flat Monthly works on a purely performance-driven model, where we only charge when we secure a paid, signed lease for you. The costs to inspect and photograph the property are all paid for by Flat Monthly. Once we secure that lease, we charge Landlords a flat 4% marketing and sales fee, based on the total value of the rental contract.
What type of properties do you list?
Currently we only list condominiums, apartments, serviced apartments and co-living apartments.
What countries can you accept properties from?
At the moment we are focussed on capital cities in Asia Pacific. So if you have property or are an agent in this territory, please contact us, as we would love to help you list and find a tenant.
How do I update you on availability of the property?
One of the key responsibilities of the landlord is to maintain the availability calendar. All landlords have a portal and login to do this. Those that keep the calendar accurate, can set their properties for Instant book, which has a large positive impact on the ability to attract a tenant quickly.
Does the property need to be furnished?
On the platform we provide listings for furnished, partly furnished and unfurnished properties. It is more important that regardless of the level of furnishing, the property is clean, tidy, and well presented in the photoshoot. If you are planning to renovate or furnish the property, wait until that work is completed before arranging the photoshoot.

OUR

COOL

3D PHOTOGRAPHY

What is 3D VR photography?
One reason why Flat Monthly is so successful at finding tenants is because of the quality and thoroughness of its photography. Our 3D photo scans don't just take nice pictures of your property, but they also create a Virtual Reality Tour, Floor Plan and Cut away “Dollhouse” view of the apartment. As we do not offer inspections, this allows prospect tenants to undertake a “Virtual Tour” instead.
Do I need to have new photos for the listing?
Simply put, yes. The reason is that we have seen huge success for our photography technology, that drives immediate results for Landlords. Our confidence level in the impact of this is so high, this is why we cover the cost for this rather expensive exercise.
How long does it take?
The lead time to arrange photography is normally a week or two. The actual shooting takes about 1 hour for a studio room, up to about 3 hours for a 3 bedroom penthouse.
Do I need to prepare and decorate the property for the shooting?
Absolutely this is the best thing you can do. With so much competition in the rental market, it is critical that your property is decorated, styled and cleaned as best as possible prior to the shooting. Simple things like nice white bed linen, decorative cushions, kitchen and dining accessories, a bit of artwork, few small plants, etc have a huge huge impact on the attractiveness of the property.
How much does it cost?
It costs a lot. But the good news is the Flat Monthly pay for this, so it is no cost to the Landlord.
What are virtual inspections?
All the 3D photos are shot in VR, which means that tenants can do a VR tour with any of the popular VR headsets. We also have a VR Lounge in each city, where prospective tenants can book a time to come in and do a virtual inspection of as many properties as they want.

THE LISTING

AND

ONBOARDING

PROCESS

How can I list on the website?
We do most of the work, so it is a fast and easy process to list with us. All you need to do is fill out the listing form here. Once we have that, we will send you further information, a listing agreement, and arrange a time for the photoshooting.
Who are your typical landlords?
The majority of the people that list on the marketplace are agents (representing landlords), developers, large lot property investors, foreign property owners, individual local landlords. We have found that the more forward-thinking, tech oriented agents and landlords are attracted to and appreciate the compelling nature of the marketplace. The easy onboarding, quality representation and processes, transparent dealings and responsiveness are greatly valued by Landlords and agents who are serious about getting the best performance possible from their properties.
What are the key terms and conditions I need to know?
The great thing about the Flat Monthly platform is that it allows you to set most of the key terms and conditions about the property. You set pricing, minimum stay period, pets, kids, smoking, etc. however there are a few terms that we need to standardise for each country, to first comply with local laws, but secondly to also ensure a certain consistency on the platform. This consistency in cancellation terms, payment timing, lease agreements etc all add credibility and trust to the marketplace, which in turn makes it a success and attractive to tenants. In the same way that Airbnb has standardised vacation rental but allows hosts/landlords to have some individual property-specific rules and regulations, we do much the same.
How long will it take to find a tenant?
We have many case studies of properties that have been vacant for 2 + years, and then can find a tenant within a month of listing. We had one agent list 4 properties in one building, that were vacant for over a year, and he had them all rented in 3 weeks. Of course, not every case is like this, but what we have seen clearly is that if a landlord has all the key selling points addressed (nice decoration, competitive rental price, flexible terms, 3D photography), then the vacancy periods reduce dramatically over traditional rental approaches.
Can I set my own rental lease agreement?
In each country, Flat Monthly has worked with local authorities and associations to develop a standard lease agreement, that fully complies with all local rules, regulations and laws. This means that landlords, tenants and agents can have comfort that the standard lease agreement is both fair and legal. This brings integrity and professionalism to the platform, that tenants appreciate and accept, to the benefit of all parties involved. Note, however, the agreement accommodates landlord specific required terms and conditions, so although it is a standard, it reflects the conditions required by Landlord (no pets, no smoking, security deposit, etc.)
Do you allow duplicate listings?
Maybe one of the best features of the Flat Monthly rental marketplace is that we do not allow duplicate listings. So what does this mean? It means that only one agent or landlord can list each property. No other agent can list your property, once it has already been listed by you on the platform. This protects the interests of Landlords and primary agents. This is done on a first come first serve basis, so whoever has authority to list that property first, is protected and basically “owns” that listing right. This means that the listings on the platform are very high quality, and also means landlords and agents are not fighting over the same property.

THE BOOKING

AND

CONTRACTING

PROCESS

How does the process work?
Flat Monthly handles all the enquiry and negotiation with the tenant. The terms and conditions agreed are in line with those set by the Landlord at the time of the listing. The Landlord (or Agent if they are authorised) just needs to confirm the booking and countersign the lease agreement when it is sent to them.
What information do I get about the tenant?
As part of the booking process, the tenant must provide a copy of their ID/Passport, particulars about their schooling, nationality, other occupants, nature of work, life status, age etc. This is typically more than what would normally be provided to Landlords before signing a lease but is what we feel is appropriate given that there has been no face to face contact or inspection with the tenant, prior to them committing to the lease.
Do I need to accept the booking?
It is not compulsory that the Landlord or agent accept the booking. However, rejection of a lease application without justification or continued rejection of leases will impact the ranking level of the property on the website in the long term.
How many days do I have to accept or reject the booking?
You are provided 48 hours to accept and digitally countersign the agreement.
Can I ask questions about the tenant?
We try and gather more than sufficient information from the tenant, to avoid the time and complication of further communications, for the benefit of all parties.

PRICING

AND

PAYMENTS

Who sets the rental price for my property?
You set all the rates and prices. If you need assistance or input from Flat Monthly, we welcome the opportunity to guide you on setting appropriate price levels. You can set monthly prices for annual contracts, or say a higher rate for a shorter 6 month contract; it is up to you.
Can I change the price?
Yes, you can log into the Landlord portal anytime and update your prices. The changes will take place on the platform immediately.
Can I set higher rental rates for shorter stays?
Yes. As a guide, we recommend a 15% premium for a 6 month stay and a 25% premium for a 3 month stay.
When do I receive the deposit and rental?
The tenant pays a one-month booking deposit once the lease is signed by all parties. This deposit is sent to the Landlord 30 days prior to the tenant move-in date.

LISTING

REVIEW

How does the review process work?
At the end of each lease, the landlord and tenant each receive an email questionnaire to provide a review. The tenant reviews are then listed on the website. The landlord reviews by the tenant are fed back to the landlord for their information.
Can I respond or edit reviews?
Flat Monthly will assist with the monitoring and administration of the reviews on behalf of the parties.

PRIVACY

Does my personal data get used for anything else?
All data is kept and maintained in accordance to the Privacy policy here. In short we do not provide any data to outside third parties, for any purpose.
Can I unsubscribe from any Flat Monthly communications?
Sure can, just click the unsubscribe link at the bottom of the email.