Fortunately, various government agencies are working to counter this problem through a patchwork of subsidy programs. National, state, and city governments offer options for low-income housing, rent controls, and other policy tools to help keep housing more affordable.

This article will explain what affordable housing is, how renters can apply for various programs, and how the city and municipal governments can find the resources needed to support their citizens in finding affordable housing. 

Measuring “affordable” housing

What is affordable housing, and how do you measure it’s “affordability”?

Many financial planners, as well as the United States government itself, have often used the “30% rule”, which states that housing is affordable when it costs less than 30% of the earnings of a full-time worker. While this rule-of-thumb may be a bit outdated, it’s still the primary measurement of affordability, and it’s often used to guide policy decisions. 

The problem is that, for a huge number of households, rental costs far exceed 30% of income. In fact, a 2019 report by the National Low Income Housing Coalition found that, in order to afford a modest 2-bedroom rental home, renters would need to earn an average wage of $22.96 per hour.

• The actual average hourly earnings of renters nationwide? $17.57.
• The minimum wage for hourly earnings nationwide? $7.25. 

The same report found that a minimum wage worker would need to work 127 hours a week (more than three full-time jobs) in order to afford a modest 2-bedroom rental at the government’s own fair pricing standards. 

In areas affected by housing booms, such as large cities on the West and East coasts, the problem is even more severe. Workers in California would need to earn $34.69 per hour, for example. The situation in mega-cities like New York and San Francisco are even direr still. The map below compares the scale of the problem across the United States, by listing the hourly wage that a renter would need to earn, 40 hours a week, in order to afford a 2-bedroom rental. 

Source: National Low Income Housing Coalition 

Illustrating the problem in another way, a report from Harvard University’s Joint Center for Housing Studies found that between 1960 and 2016:

• Inflation-adjusted rents increased by 61% 
• Inflation-adjusted home values increased by 112%
• Inflation-adjusted median renter income increased by 5%
• Inflation-adjusted median homeowner income increased by 50%

This means that today’s renters are earning about the same amount that they were in 1960 (adjusted for inflation), and yet their average rents have increased by 61%. And while homeowners are making substantially more in income, they are also hampered by a whopping 112% increase in home prices, adjusted for inflation. 

The problems of unaffordable housing

As the graphic above clearly shows, there’s absolutely a problem with housing affordability in the United States. Many families simply cannot afford to rent – let alone buy – an appropriate house or apartment. This creates an obvious problem, with millions of households struggling to pay the bills each month – in some cases, fighting eviction, being forced to move in with relatives, or even joining the ranks of America’s 500,000+ individuals experiencing homelessness. 

Beyond the obvious, there are broader issues that arise when housing becomes unaffordable:

• Cities become increasingly expensive, forcing low-wage earners out to the suburbs to find an affordable home
• Many workers are forced to commute longer distances, increasing commuting costs, traffic, and emissions 
• Prohibitive housing prices restrict the free movement of workers, which hampers the job market and ultimately restricts economic growth
• Diversity in expensive areas decreases dramatically 
• High housing costs exacerbate existing economic inequality concerns
• Marginalized groups – often low-income workers, minorities, immigrants, and the disabled – bear the brunt of 
• Housing “booms” (when prices rise) benefit existing homeowners, but make it even more difficult for first-time homebuyers to enter the market
• Efforts to keep rents under control often stifle the development of a new property, which in the long run can only worsen the situation
• Federal tax subsidies, such as the Mortgage Interest Deduction, often disproportionately benefit the wealthy
• A patchwork of federal, state, and local regulations and incentive programs for renters is confusing and difficult to navigate 

In short, when housing costs become unaffordable, the effects are severe. Inequality worsens, diversity decreases, and the economy is hampered by a restricted job market. 

The problems are clear – but what’s the solution? Below, find a list of current resources, as well as some thoughts on the future of affordable housing, and how policy can improve the situation for Americans. 

Affordable housing resources for renters

For renters in the United States, there are a variety of housing programs and resources to explore. Most apply to low-income and moderate-income households, and the majority are operated by the U.S. Department of Housing and Urban Development (HUD). 

While the HUD develops these programs and provides federal funding, most programs are actually administered by local Housing Authorities (HAs), or Public Housing Agencies (PHAs). The HUD maintains a directory of these local agencies – in most cases, you’ll want to search for the office closest to you, and connect with them to determine your eligibility and explore your options. You may also wish to connect with a Housing Counselor, who can help walk you through the process. 

How to apply for rental assistance programs

All of the programs listed below are managed by Public Housing Agencies or local Housing Authorities. To apply for any program, you’ll first need to contact your local agency. 

Agency staff can help you determine if you are eligible for any assistance programs. If you are, you can apply for assistance. You will generally need to provide information such as:

• A list of household members, ages, sex, etc.
• Your household income
• Your employer
• Bank details
• Photo ID
• Birth certificates
• Tax returns for income verification 

The application process differs for each program. You’ll first need to connect with your local agency, and they can walk you through the process.

Here is an overview of some of the most notable renter-assistance programs:

Privately-owned subsidized housing

Owners of apartment complexes and other rental properties can receive subsidies through HUD, in exchange for offering affordable units to low-income renters. You can search for properties in this subsidy program here. In most cases, tenants will need to apply directly with the owner or management company of the property itself. 

Rents will generally be substantially lower than the market rate. And because the subsidies are paid directly by HUD to the owners, there are no vouchers to deal with on the tenant’s end. The downside is that there are often not many housing units available in this program, due to a lack of funding. Still, it’s worth searching for subsidized housing in your area. 

Check out our roundup of the Best Property Management Software

Housing choice vouchers (Section 8)

The Housing Choice Vouchers program, also called Section 8, applies to very low-income families, as well as the elderly and disabled Americans. Households can apply for Section 8 assistance, and if approved, they can receive a voucher to help with rent. The amount of the voucher is based on income, as well as housing costs in your area. 

Under this program, tenants search for their own housing. They can rent apartments, townhomes, and other units, so long as they meet program requirements. The voucher is given to the landlord, and HUD funding covers the portion of rent that the voucher includes. The remaining rental cost is the responsibility of the renter to pay. 

This program allows for a lot more choice, as it does not restrict renters to specific properties. The voucher amount is also calculated based on median income and rental costs in the specific area, meaning that the subsidy amounts can be higher for more expensive areas. The downside is that the program is consistently under-funded, so often the number of eligible applicants far exceeds the number of available vouchers. There are often wait-lists to enter the program. That said, it’s worthwhile to apply with your local Housing Authority. 

Public housing

Public Housing is a program available to eligible low-income families, the elderly, and persons with disabilities. In this program, the government itself owns the housing and makes it available to eligible families and individuals at discounted (or sometimes free) rental rates. Public housing includes apartment complexes, single-family homes, and more. 

Public Housing is administered by local Housing Authorities. The program is substantial, with over 1.2 million households currently living in public housing. To apply for public housing, contact your local Housing Authority or Public Housing Agency to discuss your housing needs and eligibility. 

State & local programs

HUD-run programs make up the majority of rental assistance programs in the United States. However, there are also some state-run programs, as well as city and county-run programs. It’s worth researching programs in your area, or connecting with a local Housing Authority, to discuss your options. The HUD website also maintains a directory of local programs for renters. 

Affordable housing resources for home buyers

The majority of affordable housing programs are aimed at renters, rather than homeowners. However, there are still a variety of programs designed to help make homeownership more approachable for low- and moderate-income households. 

The Federal Housing Administration (FHA), which is a part of HUD, offers FHA Loans, a type of subsidized mortgage loan. These mortgages have lower down-payment requirements (as low as 3.5%), lower credit score requirements, and lower closing costs, compared to traditional mortgages. You can search FHA lenders online to connect with one in your area. 

Some states and local governments also offer programs of their own. For instance, some states offer interest-free loans to help with initial down-payments. You can search the internet for programs in your area, talk to your local Housing Authority or Housing Counselor, or search HUD’s online database of local programs. 

Check out our Complete Guide for First-Time Homebuyers

The future of affordable housing

Currently, America’s patchwork of affordable housing programs is not keeping up with the demand for rental units from low-income renters. Stagnating wages and surging housing prices are exacerbating the problem. This all leads one to wonder: How might we fix the affordable housing crisis in America?

Federal funding

The first and foremost solution is obvious: Policymakers must provide additional funding for existing programs, and for new ones. America’s affordable housing programs are largely successful but are often under-funded for the demand they face. 

State & local regulations

Second, much can be done on the state, county, and even city level. Much of this comes down to zoning laws, which regulate land use and the development of new housing. Local zoning regulations are usually put in place to achieve a certain environmental, aesthetic, or safety goal. However, they often exacerbate housing shortages, leading to higher housing costs. 

• Exclusionary zoning (a ban on trailer parks, or a mandated minimum lot size, for example) makes it impossible to build affordable housing in expensive areas.
• Inclusionary zoning (a mandate that X% of new development must be low-income housing, for example) can help increase socioeconomic diversity in neighborhoods while reducing the housing cost burden for low-income households. 

Local governments can also do a lot to increase the inventory of housing available. This is basic economics: Increase the supply of a product, and prices will usually go down. This intertwines with zoning laws, but it’s important to consider separately. 

When a developer wants to build a new property, they must apply for a permit. Depending on the area, they may need to jump through a lot of hoops – or they may not be able to build at all. Many cities try to prevent the building of high-rise complexes, for example, to maintain views for residents. While this may be helpful for current residents, it makes it much harder for new people to move to these cities. 

By reducing regulations on new development, cities can increase rental housing inventory, which will eventually lower prices. For a real-world example of this, we can look to Tokyo. In a city of more than 9 million residents, the Japanese government has kept housing prices reasonable by deregulating property development. In essence, this has allowed supply to keep up with demand, keeping housing prices affordable for the average household. 

Of course, housing policy is an exceptionally complicated topic. There is no easy “fix”. But if we are to tackle the growing housing affordability crisis facing America today, we must think outside the box. It will take a combination of citizens pressuring their representatives, federal officials allocating additional funding, and local governments altering zoning laws, in order to see meaningful change in the American housing market.

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The post Best Home Warranty Companies (2023) first appeared on Chamber of Commerce.

There are dozens of property management software solutions on the market. To help landlords and property management companies find a solution that’s best for them, we’ve created this guide. We’ll discuss: 

• What is property management software?
• When do you need property management software?
• How to choose the right property management software
• The best features to look for in property management software
• The best property management software to consider

What is property management software?

Property management software is meant to help landlords and real estate investors manage their rental units. Software helps organize units, tenants, contacts, and financials. As with any software, the cost, features, and functionality varies for each. 

When do you need property management software?

Property management software can provide assistance to landlords who are juggling multiple properties. Here’s a look at why so many landlords use property management software:

Spend less time organizing

There’s a lot to keep track of if you’re a landlord. From applications to signed lease agreements to rent and late notices, rental properties have a lot to manage. Property management software can help landlords stay organized without devoting time to printing and filing paperwork. 

Accounting becomes easy

Many landlords with multiple properties use a spreadsheet to keep track of their finances, but software can do the work for you. There are certain kinds of software that will track accounts payable and accounts receivable and let you reconcile your accounts all from one dashboard. 

Advertise easily

When a unit opens up, property management software gives landlords the ability to list it on several different websites with one click. Rather than creating accounts for separate sites, logging in, and posting an ad to each, the software streamlines the process. 

Screen tenants

When a tenant applies, it’s customary to do a credit and background check. Property management software can run these reports for you. In some cases, landlords are charged an additional fee for this kind of service, while others have it built into their monthly fees. 

Check out our roundup of the Best Background Check Companies for Employers

Track and monitor rent

For property owners with multiple tenants, keeping track of who paid and when can be difficult. With software in place, landlords can easily see who paid, when, and automate a receipt for the tenant. This kind of tracking not only eliminates the need to manually track money coming in but will also help identify patterns of late payments. 

Maintenance requests are handled online

If a tenant needs their dryer fixed or wants someone to check a leaky faucet, these requests can all be submitted through the property management software. The request goes right to the owner or manager, who can communicate with the tenant, and create a work order for the job to get done. 

Most landlords enjoy this feature as it minimizes the number of maintenance calls received.

Tenant portal

Property management software isn’t just for the landlord to use. Software can also include an online portal that gives renters the ability to pay rent and communicate with management quickly and effectively. 

How to choose the right property management software

Landlords who are considering property management software should take some time to weigh their options. It’s important to know what you want from the software and how much you’re willing to spend, for starters. To help, here’s a list of questions you should ask yourself first:

What’s the overall goal of the software?

Before looking into specific software solutions, write down the goal that the software should accomplish. For some landlords the goal is to save time, be more organized, streamline efforts, or assist with accounting. 

What tasks should the software accomplish?

This question requires landlords to break their goals into smaller pieces and look at specific tasks that the software should do. Tasks could include tenant application and screening, communication, rent collection, maintenance requests, automation of certain tasks. 

Check out our roundup of the Best Tenant Screening Services

Is the software easy to use?

Some solutions are more complex than others, so landlords should research the software’s navigation and ease-of-use. To do so, many companies offer a free trial. Take advantage of such an offer and if you have teams of people who will use the software, consider having them test-drive the software too. 

Some companies offer demonstrations as well, which is a good way to see the functionality of the software in action. 

Landlords can also find a wealth of user reviews online for each software. Be sure to read through the reviews to make sure ease-of-use isn’t a common complaint. 

How is data protected?

Whether the software helps manage two properties or 200, the data that’s entered into this software is sensitive. It will likely manage rent collection, which means credit card and bank information will be in the system. To make sure this data is protected, explore the software company’s data protection policies. 

What kind of accounting power does it have?

Landlords want to know that rent is paid and deposited into their account. Most of the software solutions provide rent collection that’s connected to bank accounts, but some offer more accounting features, like financial reports on specific properties, integration with accounting software, or dashboards that track revenue growth. 

If accounting features are one of the primary reasons you want a property management system, pay additional attention to the functions and tools available.  

How many users are allowed?

For larger property management companies, the software might be used by 100 people. If that’s the case, make sure the software is designed for large teams and can accommodate the number of users needed. 

In some cases, there may be an additional cost to add more users or it may make more sense financially to upgrade to an unlimited plan that doesn’t cap the number of users. 

What’s the budget for this software?

The cost of property management software varies. As you might expect, the more features you want, the higher the cost. 

Many solutions charge a monthly fee for each unit that’s tracked. Some of the solutions also charge a fee per transaction, if it facilitates rent collection and deposit. Expect additional fees for background and credit checks as well. 

The amount of money landlords are willing to spend should also be weighed against how many units are owned. A landlord with two properties would likely lean towards a cheaper solution and upgrade as more properties are purchased, while a more serious real estate investor with both residential property and commercial real estate to manage will use a premium software solution that costs more money. 

The best features to look for in property management software

To help landlords narrow their search, here are some features that landlords should look for when researching solutions: 

Easy to use

Landlords are looking to save time, so it’s important that the software selected is easy to use. Many of the software companies offer free trials so landlords can try the software for a while and see how it fits into their routines. 

Cloud-based software

For landlords who are on the go, selecting cloud-based software is ideal. With cloud-based software, information can be accessed anytime, anywhere, from any device. 

Software that’s installed as opposed to cloud-based limits mobility. Software installed on a laptop, for example, can only be accessed on that laptop.

Better communication

A landlord and tenant can communicate with ease through a property management platform. It gives tenants peace of mind knowing they can always reach the landlord, and it helps the landlord cultivate a relationship with tenants in an easy, organized way. 

Look for software that enables this kind of communication with features like easy messaging and maintenance requests.

Rent payments

Most of the software choices that are on the market can accept and process rent payments, but some don’t. If this is a feature that you want, make sure you check the software’s feature list. 

Also, some of the software companies charge a fee per transaction. These fees, which usually mimic those charged by PayPal, can add up quickly so be sure to compare charges across multiple software choices. 

Available tech support

No matter which software is on your narrow list of choices, make sure the company offers tech support. While the software is well-designed for streamlined use, there will come a time when you have a question, or there’s a glitch, or you want to undo something you did. 

Ideally, the company will offer support seven days a week for free, but that’s not always the case. Aside from availability, figure out what kind of support is offered. Whether there’s phone support, online chat boxes, or an emailed ticket-based system, there are many different ways that software companies offer technical support. 

Be aware that one of the biggest complaints we found from landlords is the lack of technical support for this kind of software. Some users say they’re forced to leave messages for tech support or don’t receive prompt responses to their inquiries. Be sure to investigate this before choosing a software solution. 

Integration with other applications

The software should work with other applications, like third party advertising sites, for example. The ability to create one ad and send it to places like Trulia and Zillow saves time and hassle. Other integrations with accounting software like Quickbooks is also a possibility or with sites like Angie’s List to find contractors for maintenance requests. 

The best property management software to consider

Whether you’re a property owner with a few rental units or a serious investor with hundreds of properties ranging from condos, homes, and student housing, there’s a property management software solution for you. 

Avail

The premise of Avail is simple. With this platform, landlords can find, screen, and keep tenants. 

The software helps landlords advertise listings online, screen applicants as they come in with credit and background checks, and keep tenants happy with online payments and maintenance tracking. It’s designed for landlords with less than 10 units. 

Avail has a customizable lease that can be tailored to different properties. The legal details are all set, the owner simply makes a few choices to create a tailored lease. 

Renters receive an invoice for rent, they pay it, and it’s deposited into your bank account. 

Pricing starts at $5 per unit per month. With this plan, there aren’t any additional fees to collect rent payments like other platforms tack on. 

• What makes it different: The simple pricing structure and ease of use make it ideal for any landlord.
• Pros: Ease of use
• Cons: Users complain about the reporting functions

TurboTenant

For landlords just starting out, TurboTenant offers a free platform with add-ons available. An owner can list properties for rent and accept applications, but any tools beyond that come at a cost. For example, landlords can create leases and offer online signing for additional fees. 

The platform doesn’t offer any way for tenants to pay rent online. For some landlords the lack of this feature could be a dealbreaker. 

The platform is likely best for a landlord with one or two properties who’s looking for a new solution. It’s a great starter platform to see if this kind of technology makes renting easier. 

• What makes it different: It’s free to use, but has add-on features for a cost. 
• Pros: Cost, simple to activate
• Cons: Limited features even if you pay for them

TenantCloud

TentantCloud has a full suite of features that landlords can use to ease the rental process. Landlords can take advantage of automatic listings, accounting and online rent collection, tenant applications and screenings, and maintenance requests. 

This software can also facilitate rental teams that work together from different locations. 

Renters can use the portal as well to track payments, connect with the landlord, make maintenance requests, and monitor work orders. 

Landlords can try TenantCloud for free and then choose from two different monthly plans. The most common plan is $9 a month, but there is a $35 a month option as well for landlords with more properties and the need to integrate the software with Quickbooks. 

• What makes it different: The software is built for landlords who plan to grow their business.  
• Pros: Variety of features, simple pricing, free trial
• Cons: Customers complain about lack of tech support

AppFolio Property Manager

AppFolio Property Manager offers a platform for a growing rental property company looking to coordinate with multiple people in multiple locations. The cloud-based software is mobile, so the property manager can handle tasks on the go. 

The portal gives managers the ability to advertise openings, provide and accept rental applications and lease agreements, collect rent, communicate with residents, and handle HOA tasks and approvals. 

This platform has 9000+ listings and focuses mostly on single-family and multifamily homes for rent. The platform also offers a support team to help with any questions that may arise while using the software.

Pricing starts at $1.25 per unit per month. 

• What makes it different: It’s a new solution on the market for mid-level property owners.
• Pros: Mobile app is great for on-the-go, easy navigation
• Cons: Support team availability sometimes requires leaving a message 

Buildium

Buildium provides property managers with a centralized dashboard to coordinate every task associated with renting a home. Buildium gives managers the ability to advertise vacancies in one click, create a maintenance cycle, communicate with residents, and collect rent from its platform. 

This software also has a tenant portal that provides helpful resources like how to find renter’s insurance and reminders for lease management.

The pricing structure is a flat monthly fee with additional charges for every online payment received. Monthly fees start at $156 with subsequent additions for online payments and add-ons like mobile inspections are available for additional costs. 

• What makes it different: The platform is built with both the property manager and the renter in mind. 
• Pros: Online payments, clear dashboard
• Cons: The fee structure, the customer support team can be hard to contact

PropertyManager

PropertyManager is an ideal platform for landlords with a variety of housing types, including single and multi-family units, mobile home parks, and even hotels. The platform can handle both residential and commercial properties so its features are really geared toward a property inverter more than a landlord. 

As you might expect, the features for this platform are extensive. From tenant screening and leasing tools to advanced accounting metrics that weigh both expenses and income, investors get an all-in-one tool with PropertyManager.

The cost of the platform starts at $15 for 1-10 units and increases based on the number of units. For an unlimited number of properties, the cost is $75 a month. There’s a 60-day risk-free trial offered as well. 

• What makes it different: It’s the go-to tool for serious real estate investors. 
• Pros: Extensive features, a centralized dashboard for multiple properties
• Cons: Cost

Propertyware

Propertyware is another property management solution that’s aimed at serious property owners. This software works best for people managing 250+ units with multiple rent managers and staff handling the workload. 

The company website looks a bit dated and doesn’t off much information. You’ll only find a simple form on the website which can be filled out to request a demo. 

The software has simple access to advertising tools, a powerful tenant screening program, and built-in accounting software with the ability to track accounts payable and receivable and reconcile bank accounts. Leasing tools, rent collection, and tech support are all part of the package. 

The software is the most expensive on our list, coming in at $250 a month. 

• What makes it different: It’s geared toward property investors with 250+ properties.
• Pros: Extensive features, advanced accounting tools
• Cons: Little information can be gathered without asking for a demo, cost

Rentec Direct

Rentec Direct is another solution for landlords with multiple properties. It has full-scale support for property accounting, online file management, tenant screenings, advertising, maintenance management, and real-time revenue metrics.  

This particular software solution has won awards for customer service, which tends to be lacking with other solutions. 

One of the features that landlords like most is the accounting tools. The software goes beyond rent collection and gives landlords the ability to sync their bank account to the software, has a robust reporting system, and can even generate tax forms for tenants at the end of the year. 

This solution is for property owners with a higher number of units, which explains why the monthly fees are higher than others. Monthly fees start at $90. 

• What makes it different: It’s a high-level software solution with amazing customer service.
• Pros: Robust accounting features, customer service
• Cons: Cost

The post Best Property Management Software (2023) first appeared on Chamber of Commerce.

	Lemonade Insurance	Instant quotes and quick claims process Low premiums in many states Plans can be canceled at any time	Visit Lemonade
	The Hartford	Affordable rates Partners with the AARP for more discounts Range of coverage options	Visit The Hartford

Why homeowners insurance is needed

Buying a home is often the most significant investment people will make in their lifetime. It only makes sense to make sure that it’s protected in case disaster strikes. No one ever expects a natural disaster, fire, or flood to destroy their house or belongings, but it happens every day. The best protection against these unforeseen damages is homeowner’s insurance through a reputable company.  

Insurance is a requirement made by the bank when there is a mortgage on the home and it’s usually built into the monthly mortgage payment cost. 

A good home insurance policy provides homeowners with the funds for large-scale damage and even lost/stolen personal property in some cases. 

When homeowners insurance is needed

Homeowners insurance typically provides replacement cost coverage for major expenses due to weather-related damage like floods and injury liability. Insurance also provides for costs outside of natural disasters, like replacing the roof every 15 to 20 years. 

Liability coverage is another major cost that is covered if somebody is injured on the property, and the homeowner is determined to be liable. 

There are many things, both big and small, that a homeowner’s insurance policy will help cover the cost (whether it is a newer or an older home), making it extremely valuable to homeowners.

What to look for when choosing a homeowners policy

The right insurance provider can be a daunting task for both new and seasoned homeowners. The most important things a homeowner will want to evaluate in a potential insurance company are things like:

• The variety of coverage options offered
• The number of discounts
• Coverage limits
• The customer satisfaction rating of each Insurance Company
• Available educational resources
• Website and app user-friendliness

Some homeowners will find themselves in unique situations that need specific and coverage options and limits. Once a homeowner knows their particular needs, they can begin researching insurance companies that can meet or exceed them.

Lemonade

Lemonade is a relatively new company, founded in 2015. It’s growing rapidly, however, and now operates in most US states as well as several European countries. 

Lemonade is “insurance for the 21st century”. It’s a technology-first company that uses tech and AI to keep costs down. The result is lower premiums for customers, as well as an easier process to sign up, submit claims or manage coverages. 

The signup process with Lemonade is completed online or through the Lemonade app, rather than at a local insurance office. In fact, the signup process is handled by an AI chatbot named Maya! This is one of the many ways that Lemonade both speeds up the process of getting insurance and lowers the cost of premiums.

Pros

• Instant quotes and quick claims process
• Low premiums in many states
• Plans can be canceled at any time
• Easy switching process from other insurers
• Good customer service

Cons

• Not available in all states

Lemonade is also a company dedicated to social causes and improving the world. They are a Public Benefit Corporation and a certified B Corp. Plus, a portion of premiums is donated to charity each year. In 2021, over $2.3 million was distributed to worthy causes in the US and abroad. 

In addition to homeowner’s insurance, Lemonade also offers renter’s insurance, term life insurance, and even pet insurance. Car insurance is not yet available but is coming soon to the Lemonade platform. 

Lemonade is best for those who want low premiums and an easy signup and claims process — and those who would prefer to use technology rather than visit a local insurance agent. Unlike most competitors, you won’t find Lemonade insurance agents in your area, and there are no physical offices to visit. 

Lemonade is a simple, easy-to-use insurance provider that also offers low premiums. However, one of the main drawbacks is that the options to customize coverage are fairly limited. Compared to some competitors, the customization options are lacking. 

The other drawback is availability. For homeowner’s insurance, Lemonade is only available in around half of US states.

Lemonade availability 

Lemonade offers homeowner’s insurance in 24 states currently, but they are expanding quickly. 

Homeowner’s insurance is currently available in Arizona, California, Colorado, Connecticut, District Of Columbia, Georgia, Illinois, Indiana, Iowa, Maryland, Massachusetts, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Virginia, and Wisconsin.

The Hartford

Founded in 1810, The Hartford is one of the oldest insurance companies still around today. The company’s first Insurance offering was for fire protection on the East Coast. The company has adapted to the changing times ever since. Their primary customer focus is adults who are 50 plus years old and members of the AARP. 

The Hartford offers a wide variety of policy types and upgraded coverage options geared towards retired or near retired customers. The company tends to give more generous discounts to homeowners who choose to upgrade their existing homes with energy-efficient and green options. 

The company was given three out of five stars in the 2019 J.D. Power study for overall customer satisfaction. This is in line with industry standards, so customers should experience minimal frustration when they need to file a claim. The Hartford has also been awarded “World’s Most Ethical Company® 12 times over the years by the Ethisphere Institute”.

Pros

• Partnership with AARP for additional discounts.
• Affordable rates and relevant coverage options for older adults.
• It has a new home discount for first-time buyers for customers in California and New York.
• Range of coverage options from liability to renters insurance.

Cons

• Must have home or auto policy to get other types of policies.
• Only available to AARP members in some states.

The Hartford very clearly favors adults who are 50 years of age or older. One of the unique coverage options they offer as part of homeowners’ insurance is additional coverage for personal property in assisted living settings.

They offer extra discounts on insurance rates for repairs/upgrades made to make the home more ‘green’ or environmentally friendly. Environmentally friendly homes can reduce living expenses like utility bills. There is an additional retirement credit if a customer/spouse is retired and works less than 24 hours a week. The Hartford is the best option for AARP members who have new energy-efficient homes or those who’ve upgraded to their older homes.

 Allstate

Allstate has been around since 1931 and remained a solid choice for new and seasoned homeowners. The company offers a range of standard insurance products and multi-policy discounts to reward homeowners with multiple assets. 

Allstate is very involved with local communities through its vast network of agents. They offer reliable coverage and customer service in the event of a claim while keeping insurance premiums at a moderate price point. The company provides an extensive collection of resources aimed at helping new homeowners navigate the overwhelm of buying a home.

Pros

• There are many discount opportunities for homeowners.
• Plenty of helpful guidance to new homeowners like blogs and app features. The escape route feature lets families create escape routes in case of a fire.
• The website is user-friendly and comprehensive.

Cons

• It only received a 3 out of 5 stars rating in the 2019 J.D. Power round-up of best homeowners insurance companies.
• Customers with high-value homes and assets might need more coverage and protection than the homeowner’s policy offers.

Allstate has always prided itself on giving back to the community through disaster relief programs and donations. “Allstate‘s innovative and strategic funding of 150 grants/sponsorships to organizations serving Chicago, Charlotte, and Dallas/Irving youth makes a positive difference in their lives.” 

Allstate has scaled up the involvement of agents in community support programs over the last few years. This means the company is more in tune than ever with the needs of local customers. 

New homeowners will find that Allstate homeowners insurance is an excellent choice for protecting that significant investment and a lot of helpful resources along the way. Current and seasoned homeowners will appreciate the coverage options and generous discounts that Allstate offers. 

Amica

Homeowners looking for a few unique coverage options and the highest rated customer service satisfaction scores can’t go wrong with Amica. Founded in 1907, the company began offering auto, fire, and theft insurance and added homeowners insurance in 1956. The company is still a shining example of a customer-focused business model with modern coverage options.

Though the company is on the smaller side, they make up for it with add-ons like upgrades for home-based businesses and the full replacement cost of lost or stolen personal property. Amica offers a robust 20% discount when homeowners also use the company for automobile coverage.

They also offer homeowners access to a network of over 2,000 vetted home repair contractors. The home repair assistance program through Contractor Connection is a valuable resource to both new and seasoned homeowners. 

Pros

• It has been rated 5 out of 5 stars by J.D. Power for customer satisfaction for the last 18 years in a row.
• Dividend policy payments, which are bonus payments to thank customers for choosing that company. They fluctuate and depend on each year’s profits. They usually happen when the company has a better than average year.

Cons

• Limited benefits and coverage depending on the state (like dividend payments).

The stellar customer service homeowners receive year after year is not by accident. Amica is always making sure that the highest standards of service are delivered, which is why it’s one of the best home insurance companies. The mid-sized insurance company is frequently rated as a top place to work in local communities. Happy employees lead to happy customers in the eyes of Amica, and their satisfaction surveys prove it.

Homeowners looking for outstanding support from service representatives and unique coverages will find the perfect balance with Amica. The company offers additional value through its partnership with Contractor Connection for many home repair needs. For those homeowners that also bring their auto insurance with them, they’ll enjoy a generous 20% discount at Amica. 

State Farm

Currently, the most popular homeowners insurance company, State Farm boasts a massive network of agents in all 50 states. Started in 1922, State Farm is consistently recognized as a top employer in the U.S., a leader in the community, and a green partner. Both new and experienced homeowners will find an ideal balance of coverage options and pricing, along with some banking services. 

Their website and mobile app are top-notch and extremely user-friendly. Fair pricing and standard policy coverages have put the insurance provider on the map. In 2019, State Farm was rated 4 out of 5 stars in customer satisfaction by a J.D. Power study comparing homeowners insurance companies.

Pros

• Simple and easy-to-use mobile and desktop platforms.
• It offers a wide range of products like identity theft insurance.

Cons

• Few discounts advertised compared to others in the industry.

While the massive insurance company offers a vast range of product lines, including banking and investments, the products do lack depth. The standard coverages and upgrade options are there. Still, some homeowners will find that they need policies with other companies for truly tailored coverage.

New homeowners will love the country’s massive network of insurance agents and fair prices of State Farm homeowner’s insurance. The tools and calculators on the company website will be helpful to new homeowners and are geared towards self-service. The company has exceptional financial strength, so policyholders can rest easy knowing that their home is covered by the largest insurance company in the nation.

Nationwide

Founded in 1925, Nationwide is one of the country’s older insurance agencies and offers a considerable array of homeowner insurance policy coverage options. The company promotes insurance education for all of its customers so they can be better informed about how their policy will (and will not) protect their investment. They also offer benefits like life insurance and commercial property coverage.

New homeowners can find plenty of guidance and resources on the Nationwide blog and resource section. While the application and claim filing processes are simple to fill out, customers may not get the result they were hoping for after filing a claim. 

Nationwide has a customer satisfaction rating of just 2 out of 5 stars, which is just below the average of 3 stars. No homeowner wants to file a claim, but that is the point of insurance, so it’s important to know claims are handled well.

Pros

• Wide range of flexible coverage options. 
• Lots of discount opportunities., especially when bundling options like home and auto.
• Easy application and insurance claims filing forms.

Cons

• 2 out of 5 stars in the 2019 J.D. Power customer satisfaction of homeowners insurance survey.

The company has room for improvement when it comes to handling claims and customer satisfaction but also offers a wide range of discounts. For seasoned homeowners that understand how to handle insurance claims, this might only be an inconvenience. New homeowners need to be sure of what their policy covers,  as some gaps could mean thousands of dollars in out-of-pocket expenses.

The company has one of the most comprehensive offerings of coverages and specialty upgrade options. This makes Nationwide an ideal choice for homeowners who want specialized coverages or have unique needs.

Liberty Mutual

This insurance company might be one of the most modern and forward-thinking options customers have when it comes to homeowner insurance policies. Liberty Mutual was founded in 1912 but has adapted very well to advanced technology and user-friendly self-service portals. It makes it easy to get free insurance quotes online!

The company’s mobile application and desktop websites are quite robust. Each has plenty of options for homeowners to choose from, so they don’t often need to talk with an agent for routine tasks or simple questions. 

The company receives a slightly below-average rating of 2 out of 5 stars on the J.D. Power study in 2019. While this might be frustrating for some customers, Liberty Mutual is one of the more generous insurance companies when it comes to the number of discounts offered. 

This is an important trade-off for homeowners to consider.

Pros

• Tech conscious company with many customers needs that can be taken care of online.
• Plenty of discounts like those for military members that purchase auto policies.
• A wide array of policy options including home, auto, renters, and condo insurance.

Cons

• Customer satisfaction ratings are below the industry average. 

Inflation protection is one of the unique coverages Liberty Mutual offers. This adjusts the coverage amount offered on the home policy each year to account for inflation. Choosing this option will make the homeowners’ insurance rates more affordable.

For both new and seasoned homeowners, Liberty Mutual is a great choice. They offer many different types of policies and discounts, but homeowners may find the claims process frustrating. This is a great home insurance company choice for customers that prefer self-service with robust digital interfaces.

Progressive

Started in 1937, Progressive offers one of the widest varieties of insurance policy coverage options. The company is very budget-friendly, even offering their signature “name your price” calculator. This tool allows potential customers to dictate what they can afford, and the tool will return different coverage options in that price range for their homeowner’s insurance.

Progressive doesn’t write its own homeowner’s insurance policies; they have partnered with ASI to write the homeowner’s insurance policies for them. This means that during the underwriting or any claims processes, customers will be dealing with the ASI customer service team, and not Progressive.

In the 2019 J.D. Power homeowners insurance study Progressive, through ASI, receive a 3 out of 5 Stars rating for customer satisfaction. 

Progressive acts as a broker and uses different partner companies to write policies for them. This is how they are able to offer some of the most affordable homeowners insurance rates and so many coverage options. 

Pros

• Generally some of the most affordable rates including a 12% discount when bundling auto policies.
• Large library of resources for new homeowners like blogs, FAQ sections, and detailed technical resource guides.

Cons

• Progressive is just a broker, so claims are handled by the actual third-party insurance company.  

The company has done a great job of pulling many resources for new homeowners and prides itself on insurance education. Customers will have different service experiences depending on which partner company wrote their homeowner’s insurance policy. 

For new and budget-conscious homeowners, Progressive is a great choice with a variety of coverage options and self-service resources on its website. 

USAA

Since its founding in 1922, USAA has been a dedicated insurance provider for military members and their families. The company goes above and beyond in customer service standards that it provides to its members. USAA offers the standard array of insurance coverage options and discounts all at very competitive rates.

USAA received a full five out of five stars for customer satisfaction in the J.D. Power study, and customers will find the claims process extremely easy to navigate. The company has useful tools, resources, and networks available to homeowners both win buying and selling their homes. For example, they can select from USAA approved local Realtors and companies.

Pros

• Superior customer service and claims processes.
• Competitive rates and discounts. Some examples include those for homeowners without a claim in 5 years and if homeowners install ADT security systems.
• Plenty of policy options. They also have other services like banking and brokerage accounts, which lets investors can grow their capital.

Cons

• Only available to service members and their families.

Home Sharing coverage is a unique policy feature offered by USAA as more adults cohabitate with their parents or even other families and roommates. This coverage means that everyone who lives in the house is protected without needing separate policies. 

USAA homeowner’s insurance is one of the best choices out there for service members and their families. They have exceptional customer satisfaction ratings and unique policy coverages that have adapted to modern living situations. The company offers competitive rates and comprehensive coverage, but it’s only available to military service members and their families. 

Bottom line

There are a lot of choices out there when it comes to selecting a home insurance provider. So homeowners need to do thorough research to find the best option to fit their unique coverage needs and budget. 

Since homeowners insurance is a general requirement by banks that hold the mortgage, homeowners will want to balance the monthly cost and customer service ratings. 

Some insurance companies are more expensive and offer fewer discounts, but homeowners will sail through the claims process without any frustration. Other companies are very budget-conscious, keeping costs low, but homeowners may find themselves having to wait longer to receive payments for claims. 

Buying a home is a big decision, and protecting it should be given just as much consideration.

The post Best Homeowners Insurance (2023) first appeared on Chamber of Commerce.

	Vivint	Sleek, stylish system Customizable options Automation services	Visit Vivint
	Frontpoint	Wide variety of features and options Indoor and outdoor cameras Outstanding customer support and service	Visit Frontpoint
	SimpliSafe	Easy to set up Small, powerful, stylish No contracts	Visit SimpliSafe

Being a successful business owner means you’ve worked hard to build to provide impeccable products and/or services to your customers. You’ve worked extremely hard to build a better life for both yourself and your loved ones, which means you want to ensure that your home – you’re your family members – are safe and secure.

This means protecting your home from burglaries, robberies, fires, flooding, and home invasions. While these threats may seem unlikely, every business owner knows the importance of anticipating and mitigating potential risks.

Consider these statistics on house break-ins:

• According to the FBI, a home burglary occurs every 13 seconds in the US
• 65% of burglaries happen between 6 am and 6 pm, while the occupants are out of the house
• Homes that are not protected by security systems are 2.7 times more likely to be targeted by a burglar

Fortunately, there are ways to keep your personal property and loved ones safe, regardless of budget and requirements.  So whether you need to protect your second home when you’re away, monitor your primary residence while at work, or just want the peace of mind in knowing that your house is protected 24/7, there’s an alarm system that’s right for you.

This guide breaks down everything you need to know.

What is a home security system?

A home security system consists of a series of inter-connected devices that record and relay information remotely to protect your home from burglaries and natural disasters. Most security systems include motion detectors, home and window sensors, an alarm or siren, and signs to display at your home entrance or put up in your yard. The main coordination unit is known as the control panel and can be used to adjust security settings manually.

In the event of an attempted burglary, sensors present in the window or door (depending on the point of entry) will be triggered and communicate a breach in security to the control center. The control center is then responsible for sounding an alarm depending on the severity of the situation. If your home is professionally monitored, the authorities will also be alerted so that they can respond in real-time.

Key components of a home security system include:

• An Entry Sensor – This device is made up of two parts: one that is attached to the frame of the door/window and the other, which is attached to the movable part of the door/window. Using in-built magnets, the device can detect whether a potential point of entrance (for a burglar) has been opened or closed.
• Glass-Break Sensors – More often than not, burglars will enter by breaking glass windows to avoid triggering entry sensors. A glass break sensor can detect the sound of glass shattering, notify the control center, and send the homeowner an alert via instant message.
• A Security Camera – These can be used to monitor more remote areas of the house, like a backdoor or backyard. Smart cameras are connected to Wi-Fi, so they can be used to stream footage in real-time remotely and keep you updated about the activity around your home. Some cameras also have two-way audio, night vision and smart platform integration with Amazon Alexa or similar platforms, and back up footage to cloud storage.
• Yard Signs and Window Stickers – Most burglars are dissuaded from entering the premises when they know a house is professionally protected. If you’ve ever noticed people putting up ‘Beware of Dog’ signs on their main gates to keep people from entering, security system signs have the same type of effect. 
• A Base Station – This allows all the information recorded by the sensory devices to be transmitted to your mobile phone via an application. It is closely linked with the control panel, which is used to manually alter the settings of the security system.
• Smoke and CO Detectors – These sensors provide the assurance that your house is livable under normal conditions, and will also send alerts about a potential outbreak of fire due to faulty circuitry or an electrical appliance left unattended for too long. Timely detection could lead to an effective evacuation of the house, as well as ensure minimal damage.

What about homeowner’s insurance?

Homeowner’s insurance is important for anyone who owns a house. Insurance can protect you in the case of a fire, flood, and yes — theft. Most homeowner’s insurance plans do cover break-ins and theft, but to make a claim you may need to have documented proof of what was stolen. Renter’s insurance should also cover thefts for those who rent property. 

While it’s true that homeowner’s insurance can reimburse you in the case of a home robbery, using a home security system to deter thieves is a better option. Thieves can steal sentimental items that cannot be replaced, or could even take sensitive documents that could lead to financial fraud or even identity theft. Homeowner’s insurance cannot protect you from these events, not to mention the trauma of having your home broken into. 

If you need homeowner’s insurance, Lemonade is a great option. Lemonade provides excellent homeowner’s coverage at a monthly price that won’t break the bank. You can sign up for a Lemonade policy in just a few minutes, and claims can be made very quickly. 

Plus, Lemonade gives back to the community by donating to charities. They are a certified B Corp and Public Benefit company, dedicated to improving the world (while keeping their customer’s homes safe).

Why do you need a home security system?

With the number of daily burglaries on the rise, the need for the enhanced protection that home security systems provide is evident. And the most obvious reason to install a home security system is to protect it from burglars. They come when you least expect it and in one fell swoop, disappear with valuables and memories that you have spent years of hard work collecting. Recovering those losses, even with insurance, is never easy.  And many valuables are irreplaceable.

Here are a few of the main benefits of having a home security system in place:

• Remote Monitoring – If you have houses in different locations, but are unable to visit them on a regular basis, you may have housekeepers, gardeners, and handymen to look after the property. A security system will help you monitor their activity, ensure that they are doing their work, and not harming the property in any way.
• Fire Protection and Damage Circumvention – A security system can also alert you and the relevant authorities about potential fires due to short circuitry or suspicious activity. If the authorities are notified in time, the effects of a fire can be limited, and potentially even save your home from total destruction.
• Monitoring of Dependents and Their Caretakers – Another potential use of a security system is to monitor elderly and disabled loved ones, as well as children and their caretakers. This ensures that caretakers are properly delivering the care expected.
• Savings on Insurance – Many insurance companies offer a discount if you have a home security system in place.  Insurance policies are designed to cover potential risks that stem from devastating events.  If a house is protected by a security system, the cost of insurance can go decrease by as much as 10-20%.
• Peace of Mind – More than anything else, installing a home security system can provide you with peace of mind since you’ll no longer need to worry about whether you left the front door unlocked, the stove on, or the living room window open. With a single tap, you can view a live stream of the house or be notified about any irregularities before any serious damage can occur.

How to choose a home security company?

Since you will be depending on the security company to protect your home and family, it’s important to pick the right one. Here are some questions to ask before selecting a home security company.

How long has the security company been in business?

While some security companies have been around for over 100 years, others are relatively new to the industry. We recommend opting for a security provider that has been around for at least 10 years and offers modern equipment. Well-established providers are less risky because they have a large customer base. They are also unlikely to go out of business.

How are the company’s reviews?

Before selecting a vendor, check out online reviews from customers and security experts to see how well others have rated their services, and systems. While lots of negative reviews can be a red flag, keep in mind that the majority of online feedback comes from disgruntled customers, so the picture can be a bit skewed.  Also consider industry rewards for customer satisfaction and quality, as well as ratings by the Better Business Bureau.

What contract options are available?

Consider the contract options offered by each vendor, including:

• Duration
• Monthly fees for monitoring
• Return period
• Whether there’s an option for self-monitoring. For some customers, the flexibility of being able to end the contract at any time without additional charges may outweigh the extra monthly costs of such plans.

A few things to keep in mind:

• Some plans offer no upfront costs for equipment if a minimum of a 3-year contract is selected
• Thoroughly understand the clauses of any contract before committing to any one particular vendor.  Many have steep fees for early termination.
• Long-term plans help you lock in the monthly fee amount for that period, ensuring that costs won’t increase 
• Most self-monitored systems let you opt for professional monitoring whenever you need it, which is perfect for things like vacations

Are there any activation fees?

Some companies charge a one-time activation fee to start using a new system, even if you’ve done the installation yourself. The fee is separate from installation or equipment costs, so if you move to a new house, you may have to pay the activation fees again.

Are there any contract cancellation charges?

Some home security companies try to sweeten the deal for long-term monitoring contracts by offering lower monthly charges and free equipment. The caveat is that if you decide to cancel before the contract period is complete, you’ll end up having to pay for the remaining period. Keep this in mind as you’re making your decision.

Can you switch to another monitoring service after ending the contract?

Some homeowners decide to switch monitoring service providers once their initial contract ends, but find that the system is incompatible with other companies’ services. As such, it’s best to confirm with the vendor before purchase.

What size is your home?

Just as homes come in all shapes and sizes, so do security systems. What may work for an apartment or duplex, will not work for a house or mansion.  Your system should be customized to your home’s requirements, including the number of doors, windows, balconies, access points, size of grounds, and other factors.

Does the equipment look good in your home?

While the aesthetics of a security system are not a consideration for most people, modern security systems can either blend in beautifully with the decor or stick out like sore thumbs in your living room. Look at color options and equipment design online to see which vendor’s offering is the best looking.

Does the equipment have to be purchased upfront?

Some home security companies ask customers to buy equipment upfront and then supplement this with a monthly monitoring fee. Keep in mind that good security companies back their equipment up with a lifetime warranty, so in the event of faulty equipment, you should have no issues. If you want to avoid paying the full amount upfront, look for companies that offer monthly installment plans.

What additional services are offered?

Take the time to research what extra services are offered by the security companies you’re considering. For example, will someone call you to confirm that alarms aren’t set off by accident?  Others will provide a paid subscription to mobile applications for monitoring your home remotely. Not all additional services may be worth it, so consider whether you’ll actually use these features, especially if there’s an additional cost involved.

What features are available?

The number and quality of features offered by each system vary greatly, but most have the basics: a base station, wired or wireless sensors, alarms, and motion sensors. Additional helpful features include a smartphone app, indoor and outdoor video cameras, two-way calling with the monitoring center, smoke and fire sensors, smart home integration and backup communication options.

Does the kit include a video camera?

Most basic security kits don’t include video cameras, and those that do usually have cameras with limited functionalities. Advanced video cameras are typically offered as an add-on, and include options like zoom lenses, night vision, facial recognition, AI-based intruder alerts, web streaming, and cloud storage options. Some companies sell video cameras as add-ons to their base security packages or allow third-party cameras to be integrated into the system.

Is the security system affordable, and worth the price?

While some bare-bones systems are reasonably priced, support DIY installation, and can be self-monitored, others offer all the bells-and-whistles, including 24/7professional monitoring and the latest technology. In some cases, equipment, professional installation, and extra features can cost upwards of $1000, before you even factor in the monthly monitoring fees.

TIP: compare the prices offered by competitors. Some vendors offer a price matching policy.

Is the home security system wireless?

The main advantage of wireless equipment is the ease of installation and relocation of equipment if needed. Wireless equipment can typically also be done via DIY installation, which saves on the cost of professional installation. Plus, wired systems can leave unsightly wires in the rooms where the equipment is installed.

Does the system require professional installation?

Some home security companies don’t offer DIY installation and charge extra for professional installation. If you prefer the convenience and reliability of having the installation performed by a certified professional, this is fine. Otherwise, choose a company that’ll give you the option of the DIY route.

Can you keep the equipment once the contract is up?

Some companies merely loan equipment to customers for the duration of the contract, which means you must return everything once the contract expires. This makes sense, as some proprietary systems simply don’t work with other vendors, and is something to keep in mind as you’re evaluating options.

Does the system support smart home integration?

The latest security systems go well beyond alarms, video cameras, and sensors, and integrate with smart home products like Amazon Alexa, Google Assistant, and Nest thermostats through Wi-Fi. These types of smart devices help you manage your thermostat, lighting, and various appliances via a smartphone, which can result in a more comfortable home that’s also more energy-efficient. Smart home security systems that are compatible with the Z-Wave platform offer flexibility in connecting with these types of smart devices.

Does it include personal security?

While most security systems focus on just securing your home and assets, several also offer personal security as well. In the event you are hurt or too sick to reach the base station to call for help, they provide you with a panic pendant that alerts emergency services and may possibly even save your life.

Does the system offer fire, smoke, and/or flood detection?

Many home security systems now offer fire, smoke, and flood detection as well.  Catching a fire or an indoor leak in its early stages can save a lot of costly damage, so it’s definitely something to consider when choosing a system.

Does the company outsource monitoring to a 3rd-party?

While some companies have their own dedicated monitoring centers, many smaller home security companies outsource monitoring to 3rd-party vendors. Your best bet is to choose a company that has its own monitoring centers since they will be more responsive and have higher quality and compliance levels.

Is the security system pet-friendly?

Be mindful of the fact that some motion sensors may be set off by your pet. This could result in false alarms, as well as disrupting a good night’s sleep. Look for home security that is pet-friendly, and can distinguish between the heat signatures of people and pets.

What customer service – and tech support – is available?

Apart from reading reviews of customer service, another factor to consider is how helpful, available and responsive a company’s tech support is. Customer service can be helpful when installing the system, debugging any issues, repairing faulty equipment, and adding more equipment. Some companies offer telephone helplines only to premium subscribers. Others have 24/7 phone and online support, while some are only available for calls during working hours. In any case, thoroughly research customer support options to ensure it fits with your requirements.

How much should a home security system cost?

Home security systems fall under 2 categories: low-end and high-end. And equipment will cost anywhere from $100 to $2000, depending on the equipment and options selected. The other component is monitoring contracts, which range from $3.30/month to $60 or more. Extra features like online cloud storage for video streams are available for an additional cost.

Low-end systems

Low-end systems usually lack the advanced features of expensive, high-end systems. They excel in the basics, however, and are usually more than sufficient for smaller dwellings. They can often be purchased as preconfigured kits and are easily set up by customers without any professional assistance.

• SimpliSafe is a low-end system, with just equipment costs ranging from $99 to $489, and refurbished systems available at 25-30% off these rates. Monitoring options range from $15 to $25 per month.
• Abode is another low-end system that starts at just $159 for the Smart Security Kit. The company offers both self-monitoring and professional monitoring, with rates starting as low as $3.30 monthly.

High-end systems

High-end systems include the basics, as well as more advanced functionality. Equipment is usually of great build quality, aesthetically pleasing, and offers more control over various settings. High-end systems tend to cost more due to brand recognition and quality. In some cases, these systems may not offer all the latest features, but make up for it with excellent customer service. Most high-end home security companies have dedicated monitoring centers.

• Vivint Smart Home is another high-end system that is on the pricier side. Equipment ranges from $599 to $1,789. Installation costs between $50 and $200 and monitoring ranges from $30 to $45 per month.
• ADT Pulse is one of the most expensive security systems, with monitoring plans ranging from $54 to $60 per month. 

The best home security systems

A good home security system provides peace of mind whether you’re at home or away. So, now that you know what to look for in a home security system, here are our top picks of the best home security systems in the industry.

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Best for home automation integration

Vivint

Vivint couples advanced technology with its own monitoring systems. The company’s sleek and stylish wireless system is connected to a cellular network and is compatible with Google Home, Alexa, Nest, and other equipment like door cameras.

Vivint requires professional installation, as well as a contractual commitment of at least 5 years, which makes it both expensive and less flexible than other plans. For customers that don’t want a monitoring plan, the equipment can still be used for self-monitoring.

Basic system equipment includes a touchscreen panel and 6 smart sensors like door and window sensors, motion detectors, flood detectors, and glass break detectors.

Pros

• Impressive features and technology 
• Mobile control of the system and video monitoring through an app 
• Build your own custom system 
• Home automation services

Cons

• Additional features can turn this into a pricier option 
• No DIY install option

See the full review of Vivint here.

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Best for professional monitoring

Frontpoint

Frontpoint has one of the most comprehensive offerings amongst our top picks. The company has an A+ with the Better Business Bureau and is well known for its customer service, ease of DIY installation, and home automation features.

Remote monitoring plans include fire and flood protection, as well as automatic alerts to a police dispatcher in the event of tampering or forced entry. System hardware includes everything from entryway and glass break sensors to motion detectors and home security cameras. All devices can be integrated with any Z-Wave products, including those from Nest and Philips.

Pros

• Wide variety of features and options 
• Indoor and outdoor cameras, as well as environmental monitoring 
• Live video feeds and cloud storage available 
• Outstanding customer support and service

Cons

• Requires one- or three-year contracts 
• Can get expensive for the full menu of features

See the full review of Frontpoint here.

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Best for DIYers

SimpliSafe

SimpliSafe offers one of the most affordable, flexible, and feature-rich home security systems on the market. The company has no long-term contracts, and a small monthly fee for monitoring that can be canceled anytime.

SimpliSafe equipment is sold either as a bundle or individually and comes with a 60-day money-back guarantee. Equipment is current with all the latest features and includes keychain remotes, indoor video cameras, motion sensors, door/window entry sensors, panic buttons, sirens, smoke and carbon monoxide detectors, water and freeze sensors, and motion sensors.

Unfortunately, there’s limited support for home automation, but the equipment is compatible with Alexa and Nest Thermostats.

Pros

• Affordable offering compared to competitors 
• No long-term contract or early termination fees 
• Very customizable security system 
• Protection on the go with wireless connectivity and mobile apps

Cons

• Self-installation is easy but may take some tweaking 
• Various choices may be hard to decipher what system is best for you 
• Requires reliable cell service since the system isn’t hardwired

See the full review of Simplisafe here.

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Best for professional installation

ADT

ADT is one of the oldest and most established security companies in the US.  With more monitoring centers than any other security company, ADT is also pricier than most. ADT’s home security systems also lack features like video monitoring and mobile apps. What’s more the company’s wireless system requires professional installation and no DIY installation options are available.

ADT offers multiple packages at different price points, starting with a basic package that includes a touch screen controller, wireless door and window sensors, a panic button, and a motion sensor. Depending on the package, customers can remotely control lighting, temperature, and smart locks, as well as take advantage of 24-hour alert monitoring and video security.

ADT requires longer-term contracts that range from 2 to 3 years. This is the best option for a comprehensive professionally installed security solution with long term professional monitoring.

Pros

• Affordable offering compared to competitors 
• Very reputable company 
• Can monitor employees entering a building with a key fob system 24/7 customer support 
• Hardwired system 
• 6-month money-back guarantee

Cons

• More expensive than others 
• Pricing difficult to estimate 
• ADT must do all installation, updates, and fixes at a cost 
• Requires a three-year contract

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Best for entry-level

Brinks

Brinks has been in the security industry for 150 years, which is evidenced by the variety and depth of the company’s offerings. The company has an A+ rating with the Better Business Bureau and was ranked #1 in Customer Satisfaction in 2018.

Brinks’ preconfigured wireless system can easily be installed.  What’s more, alarms can be armed/disarmed via the mobile app. Video streams can also be viewed using the mobile app and can be saved to the cloud for later retrieval. In addition, the system can be configured to send alerts via SMS, email, or voice when an alarm goes off.

Plans start at $29 per month, and Brinks offers a 30-day money-back guarantee if you are in any way dissatisfied with the equipment or the service.

Pros

• Impressive features and product options 
• Wireless system that works on 4G LTE cellular backup 
• Great customer service and support offered 
• 24/7 monitoring with quick response time

Cons

• 36-month contract required for video surveillance package 
• Not dedicated solely to business security, so some features missing 
• Professional installation costs $199 
• Basic warranty is only two years

See the full review of Brinks here.

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Most affordable no-contract home security system

Abode

Abode is known for its powerful home automation features that can be added to the basic starter package. Unlike many of its competitors, the company doesn’t force customers into long-term contracts and offers a free tier for customers that would prefer to just self-monitor.

Installation is DIY, and the equipment can be remotely accessed by a mobile app and web tool. While all equipment must be paid for upfront, installment plans are available, which lowers the initial out-of-pocket costs.

People looking for the flexibility of no fixed contracts will like Abode, since professional monitoring for short periods of time is available, which is great for peace of mind while on vacation. The company also offers a 30-day return policy.

Pros

• Solid offering of technology 
• Smart home integration 
• Easy DIY installation 
• Free self-monitoring offered through mobile apps

Cons

• Customer support lacking significantly 
• Only offers a one-year warranty on hardware 
• No outdoor security cameras 
• New company with a lack of customer reviews

See the full review of Abode here.

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Best for rural home security

Protect America

Protect America is a trusted name in home security and is known for its great customer service. The company offers packages for a variety of different budgets, with higher-end packages being some of the most expensive on our list.  On the flipside, however, is Protect America’s Lowest Price Guarantee, where the company will match the lowest total price of equipment and monitoring from competitors over a 36-month period. Contracts have a minimum length of 36 months and require no upfront fees.

Protect America’s wireless equipment supports DIY installation and includes devices like door/window entry sensors, motion detectors, video cameras, garage door sensors, glass break sensors, carbon monoxide detectors, smoke and heat sensors, water leak/flood sensors, indoor cameras and keypad door locks.

What’s more, the equipment can be integrated with home automation Z-Wave standard products, which include brands like Huawei, Nortek, and LG Uplus, as well as Amazon Echo Dot.

Pros

• Smart home integration
• Lowest price guarantee for 36 months
• No upfront fees
• Lifetime warranty for equipment

Cons

• Higher-end packages can get quite expensive
• Canceling early means paying off the remaining balance for the contract

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Best for techies

Google Nest Secure

Google’s Nest Secure starter kit costs $399, with DIY installation. And while self-monitoring is a possibility, Nest has partnered with Brinks Home Security for professional monitoring.  A 3-year contract costs just $19 per month, while a month-to-month plan comes in at $29 per month.

The wireless equipment is both functional and attractive, and the basic package contains a base station and key fobs for arming and disarming the alarms, as well as combination motion and door sensors. The Nest home security system also offers innovative features, like a light that turns on to light your way in the dark when it detects movement and a button that temporarily deactivates the sensor on your door to prevent false alarms when it’s opened. Equipment is also compatible with Google and Alexa’s voice commands.

The Nest app comes free with the Nest Secure system so that you can control your security system and any other Nest devices. Nest cameras aren’t included in the security kit but can be purchased separately. A separate Nest Aware subscription provides cloud storage for video and facial recognition that detect strangers from family.

Pros

• Innovative features
• Elegant design and solid build quality
• Door sensors combined with motion sensors
• No subscription needed for the app
• DIY Installation

Cons

• Starter kit is expensive compared to other DIY brands
• Higher-end packages can get quite expensive

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Best for self-monitoring

Ring Alarm Security System

Ring Security combines a basic, no-frills home security system with the flexibility of no contracts.

The equipment is easy to install, and straightforward to set up and use. For an upfront cost of $200, the starter kit includes a wireless base station, keypad, entry sensor, motion sensor, and a Z-wave range extender. Ring’s system is compatible with certain home automation products, and the mobile app offers options to configure alarms, security modes, and professional monitoring.

The monthly cost for professional monitoring under the Protect Plus package is only $10, which is substantially lower than many other home security companies on our list.

Pros

• Affordable price
• No contracts
• Easy DIY installation
• Self-monitoring is possible

Cons

• High upfront equipment cost
• No cameras included
• No professional video monitoring available
• Limited home automation support

Link Interactive

Link Interactive couples great customer service with numerous customization options that range from equipment to length of the contract.  No contract options are also available if the equipment is purchased upfront.

Equipment includes a video doorbell camera, touch screen control panel, security cameras, various sensors, and a grill guard to detect if a grill or stove has been accidentally left on. The system integrates with Z-wave technology home automation products and can be controlled and monitored through a mobile app so that you can arm and disarm the system, control smart home devices, and view camera video feeds.

Pros

• Offers 12, 24, and 36 months contracts
• Remotely control via the mobile application
• No contract if equipment purchased upfront
• Strong customer service

Cons

• Limited equipment warranty
• Large upfront cost for buying equipment 
• Contract cancellation fees
• No option for professional installation

The post Best Home Security Systems (2023) first appeared on Chamber of Commerce.

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ChamberofCommerce.org has an agreement with Mbition Learn Real Estate to promote online course information to consumers and real estate licensees. ChamberofCommerce.org is not the developer of these courses and is simply providing a referral.

	Aceable Agent	Simple and convenient Work at your own pace Take final exam online	Visit Aceable Agent
	Mbition	Virtual classroom has lots of features to keep you organized Supplemental courses available Pay as you go	Visit Mbition
	Colibri Real Estate	Live classes available Customizable programs Highly recommended	Visit Colibri Real Estate

Thinking about pursuing a real estate career in the state of Florida?  If so, it’s important to know what steps to take to turn that dream into reality. And if you’re already aware of what you need to do to get your real estate license, one of the most important decisions to make next is what real estate school to attend.

It’s important to note that going to real estate school isn’t just helpful in learning all the material necessary to become a real estate agent but, in most states, real estate school is a requirement for becoming a licensed real estate sales associate. Since courses must be taken through an accredited real estate school, it’s important to choose a Florida real estate school that offers a learning environment and pace that will best assist in achieving your goal of becoming a licensed real estate agent.

This article will cover what to look for when choosing a Florida real estate school, as well as why you need to take these classes and which schools are the best options to consider. By the end, you’ll be armed with all of the information needed to make an educated decision that will assist in your journey to obtain a Florida real estate license.

Why do aspiring real estate agents need real estate school?

There are several reasons why real estate school is an essential part of the journey for aspiring real estate agents. Of course, the number one reason is that it’s a pre-licensing requirement as mandated by the Florida Real Estate Commission. No one can begin practicing as a real estate agent until they have completed real estate school. There are many more reasons to go to real estate school beyond just the fact that it’s a baseline requirement, however.

Real estate schools help students prepare for state exams. The final real estate licensing exam is no walk in the park, and almost half of all wannabe real estate agents fail the exam on their first try. The good news is that if you don’t pass the first time around, it’s not a death sentence by any means. You’ll simply need to hit the books harder before registering to give it another shot.

There are a handful of benefits to passing the exam on the first try, however, so make sure that is your primary goal when actually taking the exam.  For starters, it will save both time and money on registration fees. Plus, passing on the first attempt means you can begin working sooner, which means you can start earning an income faster. Many real estate schools even offer exam prep courses as a part of their course offerings, which can help you prepare even more effectively for the licensing exam before actually taking it.

One of the most important reasons to go to real estate school is to become an expert in real estate. Buyers and sellers alike will be trusting their biggest assets with you. These could be their dream homes, long-term investments, or the place where they raised their children. Real estate professionals have a lot of responsibility on their shoulders, and you need to be someone that people can turn to for exceptional service. Real estate school prepares you to be an expert in the real estate market that people can trust.

When to register for real estate school

Real estate school is a major decision and depending on budget and current income, it can also be a large additional expense to work into the overall financial picture. As such, making the decision to register for a Florida real estate school isn’t one that should be taken lightly. With that said, if you are serious about becoming a real estate agent, then there is no way to avoid real estate school, and classes will need to be completed before you can begin working as a licensed agent.

Here is a general outline of steps that must be followed to become a real estate agent in Florida:

• Review the requirements of becoming a real estate agent and ensure you will be able to satisfy all of them before spending the money on real estate school
• Once that is done, shop around and register for real estate school

Some people want to jump ahead and take the real estate exam without much preparation, but this is a terrible strategy for several reasons. First, no one can take the real estate licensing exam until they’ve completed the required pre-license courses. Paying money to register for an exam if you haven’t satisfied the requirements is nothing more than a waste of a registration fee.

Secondly, a real estate school is an essential way to help prepare for the licensing exam. Completing the coursework is, in effect, a way to help students study and prepare for the licensing exam. Some real estate schools even offer packages that include exam prep courses to ensure students are prepared once exam day arrives.

Essentially, to sum things up, registering for real estate school should be one of the first things that you do once you’ve decided to become a real estate agent.

What to look for from a Florida real estate school

There are a number of real estate schools in the state of Florida. It’s important to note, however, that not all real estate schools are the same, and no real estate school is going to be a perfect fit for everyone. How you choose a real estate school will largely come down to your own unique needs.

One of the major considerations is the budget. Since you can’t actually begin working as a real estate agent until you’ve completed your coursework and passed the licensing exam, you won’t have any money coming in from your career in the real estate business until you are licensed. Even if you have a good-paying job while you complete your real estate courses, if you’re like most people, you still want to get the best value for your money.

Online-only schools tend to be cheaper because they have a lower overhead since they don’t need classrooms, which means no buildings to maintain.  With that being said, the price of online schools can still vary significantly depending on the course outline and additional features being offered. For example, some schools host live online classes that students can attend, while others require self-directed learning at their own pace.

As a follow-on to that last point, you also need to consider your own unique learning needs and style. Some people are fine with self-directed learning and online coursework with no direction or guidance from instructors. Others need physical classroom courses that they can attend to keep them on track. And still, others may do best with a combination of online and classroom learning. All of these factors should be weighed out before making a final decision on a school.

It’s also important to consider what kind of extras are offered. Some schools offer a basic coursework outline to simply help you satisfy your coursework requirements. Others offer more comprehensive packages that include things like final exam preparation classes and practice tests to help you prepare for your final licensing exam.

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Aceable Agent

Acebable Agent is an online company offering online classes available on any device. You can take classes on iPhone, Android, or your laptop anytime – and at your own pace. You can log in during your lunch break for 30 minutes, save your work and pick up where you left off later. The courses include videos, study guides, mini-quizzes, and what they call “bite-sized” content that makes learning easier.

Pricing: The pricing structure for Aceable Agent is one of the best values you’ll find. You can take the required courses, totaling 63 hours of instruction, for just $79.

Course availability: You can start working to obtain your Texas real estate license immediately. As you complete each course, your completion certificate is sent right to the Texas Real Estate Commission for you.

Test preparation: There are a variety of testing materials available for students. In the last two years, 894 students have gone through the course and taken the exam. Of those, 750 students passed the exam. The school’s pass rate is 83%, which is higher than the state’s average pass rate of 60%.

Customer feedback: Customers rave about the company. Many applaud the interactive content, as it’s a nice switch from boring textbooks and mundane professors. Real-life examples are incorporated into the videos and lessons as well. Customers also say the interface is easy to use, and they love the convenience of the multi-device concept. There are currently no negative reviews about the company on the Better Business Bureau website.

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Mbition

Mbition is another very popular option for aspiring real estate agents across the country. Their online platform is one of the most user-friendly platforms in the industry, which makes the learning experience much easier. Their pricing is also very competitive with other options on this list, and students will definitely get a lot of value for their money from Mbition Learning.

Much of the focus at Mbition is on group classes. This is great if you want an online experience that offers live classroom environments that allow you to ask questions, talk to others, and learn in a group environment. The best part about online classroom experiences is that you can take advantage of the value offered by online education, while simultaneously having the structure of an in-person classroom.

With that said, there is a lack of one-on-one support for Mbition students. Questions can be emailed to instructors to be answered at their convenience, and questions can be asked in the classroom environment. Unlike some other schools, however, there is no option to purchase one-on-one learning time.

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Colibri Real Estate

Colibri Real Estate (formerly Real Estate Express) is one of the most well-known real estate schools in the nation. This online real estate school provides services in many states, including Florida. Their industry-leading platform is easy-to-use and helps you to satisfy your course requirements, as well as prepare for your final licensing exam. One great feature about Colibri Real Estate is that they don’t simply provide you with online real estate classes and then just disappear. If you want a classroom experience, then you can join live classes with real estate instructors who are prepared to answer questions that students may have. This is especially helpful as you prepare for your final exam and have questions you would like clarified.

If on a budget, then there’s also an option to customize a learning plan with extras you feel you may need. For example, if you feel comfortable preparing for the exam on your own, then you can leave out the exam prep courses to help keep costs lower. With that being said, Colibri Real Estate is one of the more costly online real estate schools, but they do have a strong industry reputation that justifies the higher price tag.

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Tampa School of Real Estate

The Tampa School of Real Estate offers perhaps the most customizable learning plan of the other Florida real estate schools on this list. Students can sign up for in-person classes or choose to take the on-demand online courses to help them satisfy their education requirements to become licensed. What this means is that the cost for the Tampa School of Real Estate can vary pretty significantly. This is great news for students who need an affordable option since they can opt for a more basic package and still register with one of the most highly rated real estate schools.

If you’re the type to struggle to prepare for exams, then Tampa School of Real Estate should be near the top of your list since their exam preparation services are amongst the best in the industry. Perhaps the most exciting learning feature offered is the one-on-one tutoring sessions. These can be incredibly helpful when preparing for the final exam. Their audio training is also super handy since you can study wherever you go. For example, you could listen to the audio review materials while you’re driving to make the most of your travel time during the day. For some last-minute cramming, you can even listen to the review materials on your way to the exam.

The online platform is also easy to use and navigate, which is a timesaver when trying to complete coursework. Some other schools in the real estate industry fail to invest in their online platforms and learning materials, which can keep costs low for students but make the learning experience very frustrating.

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Kaplan Real Estate Education

Kaplan is another name that is known for high-quality real estate education across the country. One of the best features that draw many students to Kaplan is the availability of online classroom sessions, which brings a real classroom environment to the online experience. With this, students get an instructor-led experience at the online real estate school price. For busy people who are unable to attend classrooms during scheduled hours, this can be hugely beneficial.

What’s more, the pricing from Kaplan is very competitive with other online real estate schools. There are more affordable schools out there, but in return for the lower cost, you end up losing essential features like the wide availability of the online classroom experience. For someone who is on a very tight budget, Kaplan may prove to be too costly than other available options.

Perhaps the biggest downside to choosing Kaplan is the lack of exam prep courses in Florida. If you’re someone who is looking for help preparing for their final real estate license exam, then Kaplan instantly becomes a poor choice. If you’re someone who would rather study on their own by reviewing coursework materials and notes, then Kaplan is still a viable option to consider. Again, many of these ratings are a guideline and the best Florida real estate school for you will come down to your own unique needs.

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360training

360training is perhaps the most affordable solution you can find when it comes to real estate pre-licensing courses. Their low-cost beats many of the other top competitors, which is fantastic news if you’re on a tight budget. Of course, low-cost schools do come with their downsides. As long as you’re prepared and make an educated decision knowing what the school does and doesn’t offer, however, then you can feel confident moving forward.

360training has plenty of resources and coursework for students to satisfy their real estate sales associate pre-license coursework requirements. These courses can be completed at your pace, but there is no classroom environment to help you stay on track. This may be fine if you’re good with making and sticking to your own plan, but if you’re the type to procrastinate, 360training may not be the best option.

They also lack dedicated exam prep resources, which is another downside for some. With that said, their on-demand courses are perfect for people who enjoy reviewing materials in that particular style and format.

There is no other way to describe 360training other than as a budget real estate school. They offer everything students need to become licensed real estate agents, but they don’t offer the extras that many students truly need to help them get to the next level.

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Check out the best real estate schools near you:

• Best Real Estate Schools in California
• Best Real Estate Schools in Texas

The post Best Real Estate Schools in Florida (2023) first appeared on Chamber of Commerce.

ChamberofCommerce.org has an agreement with Mbition Learn Real Estate to promote online course information to consumers and real estate licensees. ChamberofCommerce.org is not the developer of these courses and is simply providing a referral.

	Aceable Agent	Simple and convenient Work at your own pace Take final exam online	Visit Aceable Agent
	Mbition	Virtual classroom has lots of features to keep you organized Supplemental courses available Pay as you go	Visit Mbition
	Colibri Real Estate	Live classes available Customizable programs Highly recommended	Visit Colibri Real Estate

Becoming a real estate agent is a great goal to have if you possess an entrepreneurial spirit and a love for working with people to help them buy or sell their home.  As you may already be aware, however, becoming a real estate agent isn’t as simple as sending out a resume and doing an interview. A career in the real estate industry is a serious job with a lot of important responsibilities. As such, becoming a real estate agent requires time, planning, studying, and testing before you can actually begin working as an agent.

This entire process can seem confusing at first. Where do you start? How do you pick the right path forward? What steps do you need to take to ensure a smooth transition into your new career? That’s why we’ve put together this easy-to-follow guide so that you can join the ranks of hundreds of thousands of other real estate professionals.

1. Learn the requirements in your state

The requirements for becoming a real estate agent can vary from state to state. What’s true in California may not be true in New York. Learning the basic requirements of your state’s real estate licensing regime is essential to ensuring that you complete the necessary activities to become a practicing real estate agent.

With that said, there are a few general requirements that all states have for becoming a licensed real estate agent. The specifics of each requirement may be slightly different but there is a general outline of the requirements you need to satisfy.

• First, you will need to be of legal age and an American citizen. Some states even require licensed real estate agents to be 21 years old.
• In addition to age and citizenship requirements, you may also need to pass a background check and have your fingerprints put on file. Real estate agents need to be able to be trusted by their clients and these basic checks can help weed out the people who may not have the best intentions at heart.
• One of the most important requirements for becoming a real estate agent is completing a real estate education. Your state will have specific real estate classes that you need to complete and may even require a certain number of coursework hours before you can complete your licensing requirements. As a result, most states have real estate schools that help students complete the required real estate courses and prepare for their career.
• This brings us to the final important requirement: a final real estate exam. Every single state requires applicants to pass a real estate exam before they can get their real estate license. Attending a real estate school can make passing this final exam much easier, as these schools help you to prepare and study for the exam with prep courses. In addition, most will help satisfy pre-license requirements.
• Once you’re licensed, you will then be required to take a certain number of hours of continuing education to maintain it.

2. Find a real estate school

Once you have identified the requirements to become a licensed real estate agent in your state, it’s time to begin working on satisfying those requirements. The most significant requirement is typically the coursework, which is completed through a real estate school. The good news is that most states, with a handful of exceptions, allow you to complete your real estate courses through a variety of means including online classes, in-person classes, or a combination of the two.

Although real estate schools cover important topics and help you complete the basic requirements for your state, not all schools are the same. Some schools may offer the bare minimum to complete your coursework requirements, while others may have more advanced programs available which could include final exam prep courses, online classroom sessions with instructors who can answer your questions, and even detailed textbooks to help with studying and coursework.

The real estate school you choose will come down to a range of factors. How you learn best is the most important one to consider.

• For example, if you know that you’re the type to procrastinate online learning, then you may wish to opt for a real estate school that offers in-person classroom learning.
• If you struggle with exams, then you should consider finding a real estate school with a thorough exam prep program.
• If you have a full-time job and are trying to complete your classes in your free time, you should look for a completely online program that’ll give you the ability to learn at your own pace or a program that offers night classes that’ll work around your work schedule.

Cost is something else you’ll want to take into consideration. The cost of real estate school can vary significantly depending on the features offered. Some online-only schools have basic packages, which will help you satisfy the minimum requirements for the lowest cost possible. If you’re on a budget and don’t mind doing self-directed learning, then taking online courses may be a great option. Other schools offer tiered learning plans, where you can customize the courses and learning schedule to your own needs and budget by choosing what’s important to you. For example, a basic course taken online may be fine, but you may also wish to attend in-person classroom study sessions prior to the final state exam.

At a minimum, you should expect to pay $150 for real estate school. With that said, depending on the school you choose, and the type of program offered, the cost for a real estate school can increase significantly to more than $1500.

3. Take the state real estate licensing exam

Once you have satisfied all pre-licensing requirements and taken the required real estate classes, then you’ll finally be ready to tackle the real estate license exam. In most states, you will need to provide proof that you have completed the required coursework before you will be able to take the final exam.  So be sure that you have all your ducks in a row beforehand.

Prior to the exam, you should take a few practice exams online. Your real estate school may even provide practice exams to help you prepare for the pressure of writing an exam. This may or may not be necessary for you depending on how well you do in an exam writing environment.

There is often a registration fee to sign up for the final exam, so be sure you’re ready to take it before you spend money to register for a session. If you fail the exam, you can register to take it again at an additional cost. More than half of aspiring real estate agents don’t pass the exam the first time, so it’s important not to get discouraged. With that said, the right amount of preparation for the exam can definitely help you be amongst those who pass on their first try, which will save you money in the long run.

4. Join a real estate brokerage

Once you’re completed your coursework and exam requirements, you’re ready to find a sponsoring brokerage and continue working towards completing your licensing. New real estate agents must work with a qualified brokerage. You can’t simply begin working as an independent real estate agent right out of the gate.  Plus, having a brokerage on your side can give you the necessary help as you learn the ropes of the industry.

Brokerages will want to interview you before making you a part of their team. This interview process is also for you to ensure that you join the right real estate brokerage that meets your needs and can help you achieve your career goals.

There are a couple of different ways brokerages earn money from having real estate agents on their team. One of the most common ways is through a desk fee. Realtors that are a part of the brokerage must pay a regular fee to the brokerage to be a part of the team. Generally, this also means you get desk space and access to office materials at the brokerage’s office but with so many people working mobile these days, a desk fee is more of a name that has stuck through the years than an actual fee for renting a desk.

Another way that brokerages earn money from their agents is through commission sharing. When you help a client buy a home or sell their home then you earn a percentage commission on the transaction. Brokerages may claim a portion of your commission and the percentages can vary depending on the brokerage in question.

Finally, you may find some brokerages that have both a desk fee and a commission sharing plan. These brokerages can charge a higher desk fee and lower commission or the other way around. Depending on your sales volume and the cost of the desk fee, you may want to shop around for the payment structure that you feel will best suit your needs.

It should also be noted that searching for a brokerage doesn’t have to wait until you have completed the exam. Some brokerages may appreciate that you are beginning the search for the right brokerage even while you are still in real estate school. Don’t be afraid to start reaching out to real estate brokerages early and moving this step higher in the process of becoming a real estate agent.

5. Submit licensing paperwork

Once a brokerage has agreed to sponsor you and bring you onto their team then you’re ready to submit your licensing paperwork. This is typically when the actual background check process is completed and there are several fees you may need to pay to complete your application process. Typically, at a minimum, you can expect to pay an application fee as well as a background check fee. These two fees combined can cost several hundred dollars depending on which state you are becoming licensed in.

If you are on a budget, you may want to see if your brokerage has any capacity to help pay licensing fees upfront until you begin bringing in business and making sales. This is not a guarantee but it doesn’t hurt to ask if you feel this would be helpful. In any case, these fees are required and they are the final step to actually becoming a licensed real estate agent.

6. Start working as a real estate agent

You’ve put in a lot of hours studying, writing exams, and interviewing with brokerages. However, the work is only just beginning. Once you are a licensed real estate agent, you have to spend time marketing yourself and growing a healthy base of clients. Since real estate is based on commission, you need to start helping clients buy and sell homes to begin earning a living.

This is where it’s great being a part of a brokerage as you can partner with more experienced agents to learn from them, take part in joint marketing efforts, and build your own personal brand on top of the brokerage’s brand. Attending events in your area is a great way to get your name out there but it’s also important to consider things like building a personal website, buying advertising, and even sponsoring events to help make your name the one that people think of when they are looking to buy and sell.

It’s an ongoing process to build a successful career in real estate but, now that you’re licensed, you’re free to put your entrepreneurial ideas to work.

The best real estate school for you

There are a number of real estate schools you can consider when starting your journey. Here are a few schools that you may want to look into as you begin comparing options.

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Colibri Real Estate

Colibri Real Estate (formerly Real Estate Express) is one of the most popular real estate schools in the nation, and they provide all of the necessary real estate courses based on your state. In addition to a great coursework plan, Colibri Real Estate has a comprehensive exam prep offering to help you ace your licensing exam and become a licensed real estate agent. Their costs are among the highest of all the real estate schools, but they back up their higher costs with exceptional support and materials, including a guarantee that you will pass your exam, or else you get your money back. Many state requirements are covered by Colibri, and they are one of the most reputable companies available for your real estate courses. Simply reading online reviews from previous students will show why Colibri Real Estate is one of the top-recommended options for real estate schools.

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Mbition

Mbition provides real estate classes to meet the needs of students in many different states. Their pricing is very competitive with other online real estate schools which makes them a very popular choice for students who are on a budget but still want some of the best course materials in the industry. Perhaps their best-known features are their networking and exam prep offerings. Since networking is such an important part of building a successful real estate career, this should be an important consideration when choosing a real estate school. Depending on your state, you can expect to pay as little as $150 for real estate courses through Mbition. Even though learning is done online, students can still take part in group learning sessions to get a more authentic classroom experience.

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Kaplan Real Estate Education

Kaplan Real Estate Education is another top recommended real estate school. The customization of their packages is perhaps their best feature with students being able to build the learning and study plan that best suits their needs. This is also great for students on a budget who also just want the basic coursework materials but are willing to do the exam prep and studying on their own without paying for additional exam prep classes. Of course, students who want those extras can customize their learning plan and pay for what they need to ensure success. Their live online classrooms provide an authentic experience for students who don’t want to do all of their classwork in a self-directed online setting. The only major downside with choosing Kaplan is its dated platform that makes it less user-friendly than some of the other options in the industry.

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Check out the best real estate schools near you:

• Best Real Estate Schools in California
• Best Real Estate Schools in Florida
• Best Real Estate Schools in Texas

The post How to Become a Real Estate Agent first appeared on Chamber of Commerce.