Let’s talk about how sublets work and outline everything you need to know about subletting.
What is subletting?
Subletting is a process where a tenant rents their apartment to someone else for the duration of the lease. The terms and conditions of the original lease stay the same and the original tenant’s name remains on the lease, but the new tenant moves in and becomes responsible for paying rent and utilities. Subletting allows the original tenant to move while renting out their old space to someone new.
A few helpful definitions
Before we explain how sublets work in more detail, here are a few keywords defined.
Subleasing: Subleasing is another term for subletting. Both words refer to the process of renting an apartment or room to someone else.
Lessor: A lessor is someone — commonly called a landlord or property manager — who owns the property and rents it out.
Lessee: The lessee is also known as the renter or tenant. A lessee rents a room or apartment from the lessor.
Sublessee: A sublessee, also called a subtenant, is the person who rents a room or apartment from the lessee when subletting.
Reasons to sublet an apartment
Ideally, when you rent an apartment, you can commit to the terms of the lease. However, life happens and you may find yourself needing to move out prior to the end of the lease. Some situations for moving out early and needing to sublet may include:
Getting married
Having a baby
Graduating college
Relocating for work
Needing more room
Cutting expenses
Moving back home
Regardless of the reason, subletting is a viable option to consider.
How do sublets work?
So, you’ve found yourself in a situation where you need to move, you don’t want to break the lease and you’ve decided to sublet your apartment. Here’s how to go about subletting an apartment.
1. Review your lease agreement
Before you start interviewing candidates for a sublessee, you need to take some time to thoroughly review your current lease agreement. You’ll want to check that subletting is allowed in the first place and fully understand what you can and can’t do.
If you need help understanding the legal jargon of your lease agreement, talk to a lawyer or your landlord. This is a scenario when the fine print matters.
2. Make sure subletting is legal in your state
In some states, subletting is legal, and in others, it’s not. Laws vary state by state so you’ll need to conduct research to understand if subletting is legal in your state.
3. Talk to your landlord
Once you’ve done your homework, reviewed the lease and state laws, it’s time to talk to your landlord and let them know you’d like to sublet the apartment. It’s polite to ask, and not tell them, what you’re doing. Schedule a meeting to let the lessee know your intentions and go over any and all details that are necessary to formally sublet the space.
You can also send them a formal letter requesting permission to sublet.
4. Find a sublessee
Once you’re in agreement with your landlord that you can sublet the apartment, it’s time to find a sublessee. This is your responsibility, not the landlords. You can place ads for a sublessee on social media groups or check out different apps that help you search for roommates or sublessees. Just make sure you find someone you trust as your name is still legally on the lease and your reputation is on the line.
5. Determine the details of your subletting agreement
When you’ve found someone to sublet the apartment, schedule a meeting to go over the details of the subletting agreement. How long will you sublet for? Will the sublessee be responsible for all rent and utilities? When can they move in? Do they need to pay you a security deposit? Get all of the details worked out ahead of time.
6. Get your subletting agreement in writing
Verbal agreements are not sufficient when it comes to subletting. Get all of the details written down so you have a paper trail should things go awry.
7. Coordinate the move with your new sublessee
Have everything in order with your landlord and sublessee? Now it’s time to coordinate the details of when the transition will happen.
Pros and cons to consider when subletting an apartment
As with everything in life, there are pros and cons to subletting an apartment. Because a lease is a legally binding contract, you want to take it seriously and really understand the repercussions — both good and bad — of subletting your apartment.
Pros of subletting an apartment
Keep your lease intact: Subletting allows you to keep your lease intact without breaking the terms and conditions or paying a penalty for breaking the lease early.
Keep your deposits: Subletting allows you to keep the security deposit and first and last month’s rent without forfeiting it. You can save a lot of money by subletting an apartment.
Ability to move as needed: When you find yourself needing to move quickly, subletting allows you to move and still keep your current place of residence. Perhaps you just need to move for three months and want to come back in 90 days? Subletting allows you that freedom.
Cons of subletting an apartment
Difficult to find a sublessee: It can be difficult to find someone trustworthy to take over your lease in a pinch. You want to make sure you trust the sublessee as the lease is still legally in your name.
Stressful to coordinate: Planning a move is difficult in and of itself, let alone trying to coordinate with a sublessee.
Potential of sublessee backing out: While you’ll want to get an agreement in writing with your sublessee, they still can back out of the agreement, leaving you in a bind.
Subletting is an option to keep in mind
Now that we’ve reviewed how sublets work, you’ll know how and what to do should you ever need to sublet an apartment yourself. Or, if you’re looking for a place to rent but don’t want to sign a lease yourself, being a sublessee may be the right option for you.
Sage Singleton is a freelance writer with a passion for literature and words. She enjoys writing articles that will inspire, educate and influence readers. She loves that words have the power to create change and make a positive impact in the world. Some of her work has been featured on LendingTree, Venture Beat, Architectural Digest, Porch.com and Homes.com. In her free time, she loves traveling, reading and learning French.
Do you have books gathering dust in your basement or on your shelf? If so, you can make some extra cash by learning how to sell used books. The amount of money you can make selling used books varies. Typically, college textbooks pay the most and you may be able to make around $100 per…
Do you have books gathering dust in your basement or on your shelf? If so, you can make some extra cash by learning how to sell used books.
The amount of money you can make selling used books varies. Typically, college textbooks pay the most and you may be able to make around $100 per textbook sold.
You can sell many other types of books as well, such as chapter books, children’s books, romance novels, and more.
An easy way to find out how much your used books are worth is by using Book Scouter. With Book Scouter, all you need to do is enter the ISBN and they will tell you how much you can possibly get for the used book.
We have sold books plenty of times over the years, as well as have bought used books. It’s a great way to make extra money!
17 Best Places To Sell Used Books
Below are the best places and sites to sell used books.
1. Decluttr
Decluttr is a platform that lets you sell items like books, clothes, electronics, and more.
To get started selling books on Decluttr, you need to create an account on the website. Next, click the ” Start Selling” button and enter the ISBN or barcode of the book you want to sell. Once you do this, Decluttr will give an instant valuation based on the condition and demand of the book.
Once an offer is accepted, you’ll receive a confirmation email with a prepaid shipping label. Print the label and put it on a box and pack your books in the box. When Decluttr receives your items, you’ll receive payment either through direct deposit or PayPal.
2. AbeBooks
AbeBooks is a popular online platform for selling new and used books, along with art and collectibles. You can sell rare books (such as a first edition book), textbooks, maps, comics, and paper collectibles on AbeBooks.
To get started selling on AbeBooks, create an account under “Start Selling”. Once your account is set up, you can start listing books. You will need the ISBN, condition, title, author, and price of the book you’re selling.
When a buyer purchases one of your books, AbeBooks notifies you. Then, you’ll pack the book securely and ship it straight to the buyer.
3. Amazon
Amazon is a popular site to sell used books online.
To get started selling books on Amazon, create an Amazon Seller account. Click “Sign Up” and fill out the information needed like payment and bank account details for receiving payment. Now you can list your books by finding the “Inventory” tab and selecting “Add A Product”. Enter the ISBN code to find your book and provide details about the book’s condition, price, and shipping options.
Once a book is sold, Amazon notifies you and you can begin the shipping process.
Recommended reading: 16 Best Ways To Get Paid To Read Books
4. Barnes and Noble
Barnes and Noble has a Textbook Buyback program where they buy certain textbooks for a fair price. This is a great program if you have textbooks you’re no longer using and want to make some money.
To get started with the Barnes and Noble Textbook Buyback program, locate the ISBN number on the back of your textbook and enter the number. You must have $10 worth of books to sell in order to participate in the book buyback program. Once you’ve entered your ISBN number, you will receive a quote from Barnes and Noble, and from there you can accept the quote and submit the book return.
5. Craigslist
Selling used books on Craigslist is an easy and quick method to get rid of books. First, you’ll need to create a Craigslist account and choose your location. Create a new listing and select the books category. Fill out details for the book including clear pictures of the book, condition of the book, and other relevant information (hardcover, paperback, ripped pages, etc.)
With Craigslist, it’s important to coordinate a safe place for the exchange and some sellers choose places like libraries, police station parking lots, or coffee shops.
6. eBay
eBay is a great place to sell used books due to its wide customer base and trust in the marketplace. You have the flexibility to set your own pricing on eBay and creating listings on the site is incredibly easy. If you have rare books, you can even set up an auction for bids, which can sometimes result in higher prices.
To sell books on eBay, you must have an eBay account. You can start listing your books under “Sell” link at the top of eBay’s website. You pay a final value fee whenever your item sells.
7. Valore
Valore is a platform specifically for selling and purchasing textbooks. The Valore platform is user-friendly and easy to use. All you need to do is enter the ISBN of the textbook and you’ll receive an instant quote, and Valore covers shipping the textbook to their warehouse and pays out via check or PayPal.
Keep in mind, that selling textbooks to platforms like Valore may end up making you more money than selling your textbooks to a local college bookstore. Campus bookstores are notorious for paying low prices for textbooks and campus stores are limited to how many textbooks they can purchase.
8. Sellbackyourbook.com
Sellbackyourbook.com is a website where you can sell used books online for cash. This site specializes in purchasing textbooks.
To sell your textbooks, all you have to do is enter your book’s ISBNs to receive instant price quotes for your books. You also need to provide shipping information and print a shipping label from the website. You do not have to pay for shipping.
You’re responsible for packing and shipping the books to the designated address. Once the textbooks are received and the condition is verified, you’ll receive payment either by check or PayPal.
9. Half Price Books
Half Price Books is an in-person store where you can sell your books in person for cash or store credit. The staff at Half Price Books assesses the condition of the books you’re selling and the demand for the book, and gives you a price based on those factors.
Besides books, Half Price Books also buys music, movies, collectibles, comics, magazines, games, and electronics. When selling items at Half Price Books, you need to have a government-issued ID with you and be at least 18 years of age. If you’re under 18 years old, a parent/guardian must be with you.
10. Powell’s Books
Powell’s Books is a bookstore located in Portland, Oregon. The store has an online and in-person program for buying used books. The online buyback program does payouts through PayPal. If you sell books in person, payouts are in the form of Powell store credit.
To sell books to Powell’s Books online, all you need to do is scan or enter the ISBN of the books you want to sell. You’ll receive an instant quote. If you’re happy with the quote, package the books and drop them off at a local UPS store.
11. Chegg
Chegg is another online textbook store that has a textbook buyback program. Chegg works with an independent buyer called GoTextbooks which purchases textbooks.
To get started, enter the ISBN of the textbook and find out what you’ll get paid for your book. Next, you’ll print a free shipping label and ship your book to their warehouse. As soon as your book is received, you’ll receive payment. Textbooks need to be in fair condition or better.
12. BooksRun
BooksRun is a website that buys books. To get started, enter the ISBN number on the back of the book and you’ll receive a quote. Books ship for free with a QR code, so you don’t even need to print out a shipping label yourself. Once the book is received, you’ll receive a check or PayPal within 4 days.
There’s also a BooksRun app that makes it even easier to sell your books.
13. Bookscouter
BookScouter is an online book buying program where 30+ vendors compete to buy your books and this is one of the best apps to sell used books. You can compare offers with a single search, making it incredibly easy to find the best place to sell your books. BookScouter shows you the highest buyback price and will even track price changes and send you price alerts.
There’s even a BookScouter app, making it as easy as possible to sell your books online. Books must be in new or in almost new condition and cannot have missing pages, broken spines, excessive writing or highlighting, or water damage.
14. Cash4Books
Cash4Books is a platform that buys books for cash. To get started, take a picture of your collection of books and then you’ll receive a quote.
Cash4Books is known for buying 500+ books at a time at estate sales and similar places. They specialize in buying personal academic collections and are interested in non-fiction and academic titles of all kinds.
This platform is not interested in buying 1 or 2 books at a time, but instead wants to buy hundreds of books at once.
15. Your college bookstore (for textbooks)
If you want to sell your college textbooks as soon as possible, visit your local campus textbook store. Gather all of the textbooks you want to sell and make sure they are in good condition with minimal highlighting. Most college bookstores require a student ID to buy back your textbooks, so make sure to bring it with you.
Make sure to clean your books and wipe off any dust or debris. Visit the bookstore during open hours and the staff will evaluate the condition of the book and check if the book is needed for upcoming courses. If the book is needed, the staff will make you an offer based on the condition of the book and the current demand.
We have sold plenty of college textbooks over the years, and it is very easy to do!
Tip: If you’re in college, buying used college textbooks is also a great way to save money while you’re in college! Both me and my sister did this and it saved us hundreds of dollars each semester on books for our classes.
16. Local book store that accepts used books
It’s also a great idea to check local bookstores to see if they buy used books. Depending on the desirability and condition of the book, your local bookstore may want to buy it from you.
Call or email local bookstores to see if they have a buyback program for used books. You can also ask them what kind of books they’re interested in buying or take all of the books you’re wanting to sell straight to the bookstore. The bookstore staff will give you a quote and either pay you in cash or store credit.
I love local bookstores for this reason – I can find great used books for a fraction of the cost. Plus, you can find limited edition and more rare books at local book stores too.
17. Garage sales and yard sales
One of the easiest places to sell used books is at a garage sale or yard sale. It’s important to know you’re probably going to get the least amount possible for your books since you’ll have a much smaller customer base.
Most books at garage sales go for less than $1 and oftentimes go for 25 cents each. But, there are no shipping costs or monthly fees and all you have to do is put them outside, so that is very easy!
Make sure to advertise your garage sale online in Facebook groups and by posting flyers around town and letting people know that you are selling books for a deeply discounted price.
Also, if you want to just declutter your books and home, and you don’t care about making money, then another option is to simply donate your used books to a place like Goodwill.
Frequently Asked Questions About The Best Places To Sell Used Books
Below are answers to common questions about the best places to sell used books.
Where can I sell used books for the best price?
The best places to sell used books include Amazon, eBay, BookScouter, and Decluttr. Getting the best price for books depends on things like the condition of the books (are there stains?), market trends, and demand for the book.
How much money can you make selling books?
The amount of money you can make selling used books depends on a few factors, including:
Genre of the books
Target audience
Marketing strategy
Demand for the book
The most popular genres include mystery, romance, and science fiction. These books often have a larger read base which makes selling used books in this genre much easier.
How can you increase your earnings on used books?
There are many ways to increase your profit when selling used books, including:
Clean the book and get rid of dust before selling
Be transparent about the condition of the book
Include free shipping for your used books
Package books with care
How can I find out how much my books are worth?
One way to find out how much your used books are worth is by using Book Scouter. All you need to do is enter the book ISBN number and they will tell you how much you can possibly get for the used book.
What kind of books can you sell?
The types of books that sell best include textbooks, comic books, hardcovers, popular fiction, and more. You can sell any type of book!
Is Amazon a good place to sell books? Can you still make money selling used books on Amazon?
Amazon is a good place to sell books online because of its large customer base and global reach. You will have competition on Amazon, but with the platform’s wide reach, you’ll have a chance to attract multiple buyers looking for your books.
You can fulfill orders yourself or use Fulfillment by Amazon (FBA) which is where Amazon handles the storage, packing, and shipping of your books. This can save you a lot of time. Also, you get access to Prime members which means your books may qualify for Amazon Prime shipping, which makes your books more appealing to customers who have Prime.
Does Barnes and Noble buy used books?
Barnes and Noble is primarily focused on buying textbooks and you must have $10 worth of books to sell in order to participate in their buyback program.
Best Places To Sell Used Books – Final Thoughts
I hope you enjoyed this article on the best ways to sell used books.
There are many places to sell books ranging from online platforms like Delcuttr or Amazon or selling in person at bookstores like Half Price Books or Powell’s Books.
To get the most money for selling your books, enter the ISBN code on several different websites to find who will give you the best quote.
If you have a stack of books collecting dust, you might as well make some extra money with them!
Have you sold used books in the past? Where’s your favorite place to sell your old books?
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Are you downsizing, moving or doing a major decor change in your home but don’t know what to do with your old furniture? Well, you’re in luck because many local nonprofit organizations make moving easy by offering free furniture donation pick up.
Donating furniture to your favorite charities is a chance to get rid of extra furniture and household items for free while giving back to your community. Here is how to get started in the process.
Where to donate furniture
When looking for furniture donation pickup, there can be so many options it’s hard to know where to start. Thankfully, we’ve got you covered with our detailed list summarizing nonprofit organizations, who your donation will help, items they accept and how to schedule your pickup.
The best part is that every organization in our guide is completely free of charge for their furniture removal services and your donations go to a great cause.
1. Salvation Army
When people start thinking about donating furniture, The Salvation Army is usually one of the first places to come to mind. The Salvation Army is an international organization that operates in over 7,000 U.S. towns and cities and assists 23 million Americans annually.
Their services help provide disaster aid, support the LGBTQ+ community, fight food insecurity, combat addiction, assist those living in poverty and more. With the number of people Salvation Army helps each year, you can feel confident that you are doing good by donating to this organization.
Who your donation helps: Your items are either brought directly to those in need or sold at one of their Salvation Army stores. The proceeds from their stores are used to fund their Adult Rehabilitation Centers that provide housing, food, counseling, community and employment for individuals suffering from drug and alcohol dependency.
Items they accept: The Salvation Army will accept furniture, vehicles, clothing, household items, electronics, mattresses, books, exercise equipment and more.
How to schedule a pick-up: You can schedule an appointment for furniture pickup at The Salvation Army website or call 1-800-SA-TRUCK. Salvation Army pick-up hours can vary depending on your location, but they are typically 8 a.m. to 4 p.m. They make the transition even easier by allowing you to leave items outside your home for them to pick up without you even needing to be home.
2. Goodwill
Goodwill is an organization that supports communities through job training and employment services. They also provide support services, language training, education assistance, access to transportation and child care to help people in their communities achieve success.
In 2020, Goodwill served nearly 22 million individuals worldwide and provided career support to 126,000 people. Items brought to one of Goodwill’s stores are sold at a discounted price and the money raised goes to their various programs and initiatives.
Who your donation helps: Donation funds go to their job training or community-based programs. Some of their community-based programs include classes for people with disabilities, senior resources and helping convicts reclaim their lives after prison.
Items they accept: Goodwill accepts furniture, toys, electronics, clothing, media items, electronics, vehicles, exercise equipment, dishware and tools. Something to note is that Goodwill will accept boats, cars, campers and RVs even if they aren’t in working condition.
How to schedule a pick-up: Goodwill stores provide a donation center to give easy drop-off access for donations you’re able to bring in yourself. Most stores also offer a free pick-up service for larger furniture items, making it perfect for those who are downsizing. You can schedule your free Goodwill pickup online on their website locator, but keep in mind that store hours will vary based on their location.
3. Habitat for Humanity
Habitat for Humanity is a global nonprofit that provides safe and affordable housing to families in need. Their initiative also assists older adults to improve their homes, puts efforts towards neighborhood revitalization projects, provides shelter during natural disasters and teaches classes focused on financial education. This organization has been in operation since 1976 and works in all 50 U.S. states as well as 70 countries.
Who your donation helps: Habitat for Humanity sells donated furniture, building supplies and appliances at their resale store called ReStores. Proceeds from sales go to home restoring and building projects for families in need of affordable housing.
Items they accept: Habitat for Humanity will accept furniture, building materials, appliances, vehicles and farm equipment.
How to schedule a pick-up: To schedule a free furniture donation pick up with Habitat for Humanity, visit their website and enter your ZIP code to see which stores are near you. Next, you can contact your closest store directly to schedule your appointment.
4. Green Drop
GreenDrop is a program on the East Coast that raises funds for popular charities by picking up used furniture, clothes and appliances to sell at thrift stores. Their proceeds go back to charities that help those in need. Some of the charities they support include the American Red Cross, Military Order of the Purple Heart and the National Federation of the Blind.
Who your donation helps: In 2018, GreenDrop raised $3.1 million for the charitable organizations listed above.
Items they accept: GreenDrop accepts various items, including furniture under 50 pounds, clothing, household items, electronics, tools and toys.
How to schedule a pick-up: Start by packing up all of your belongings in plastic boxes or bins. Next, decide if you want to make an in-person donation or if you can schedule a furniture pick-up online. After they receive a donation, they’ll provide you with a tax receipt.
5. The Arc
The Arc is the largest organization devoted to helping individuals with developmental and intellectual disabilities. It provides a wide variety of services, supports and advocacy for people with disabilities and their families. The organization has over 700 chapters and one of their key sources of fundraising comes from their thrift stores, which they stock with donated goods.
Who your donation helps: Their services vary based on each chapter and the unique needs of their community. Once your donation sells, it goes towards public policy advocacy, vocational programs, residential assistance, education services, financial planning and recreational activities for people with disabilities.
Items they accept: The Arc accepts furniture, clothing, electronics, toys, vehicles, books, decorations, kitchen items and more, depending on the chapter.
How to schedule a pick-up: You can also schedule via phone by calling The Arc at 1-800-283-2721. Another option is to head to their website to find your local chapter and schedule your pick-up.
6. AMVETS
AMVETS is an organization that represents the interests of 20 million veterans across the United States. This group helps veterans obtain their entitled benefits. They also work to improve the quality of life for veterans, their families and the communities where they live through leadership, advocacy and services.
Who your donation helps: AMVETS supports U.S. veterans, those who have been honorably discharged and active duty servicemen and women. They will sell your furniture in one of their thrift stores to raise money for their cause.
Items they accept: AMVETS accepts small furniture, clothing, toys, bedding, games, bikes, electronics, lamps, curtains, exercise equipment and kitchenware. AMVET requires donations to be 5-years old or less but is also open to accepting other items that are not on their list.
How to schedule a pick-up: Send an email through the AMVET site or call to schedule a furniture donation pick-up between the hours of 8 a.m. and 4:30 p.m. It’s important to check with this organization ahead of time to see if their services are available near you. AMVETS has branches across the United States, but only has free furniture pick up available in certain states.
7. Donation Town
This site is perfect for anyone feeling overwhelmed trying to find charities that provide furniture pickup in their community. Donation Town works with local charities all over the country to help put individuals in touch with nonprofits that will provide this service for free. Simply enter your ZIP code and they’ll give you a list of charities to choose from.
Who your donation helps: Your donation will help the charity of your choice. They currently have over 400 charities of all sizes in their directory and are adding more all the time.
Items they accept: Items they accept depend on each charity’s guidelines.
How to schedule a pick-up: Visit Donation Town’s website to plan your pick-up with your selected charity.
8. Furniture Banks
If you donate your items to Furniture Banks, then you’ll be playing an important part in helping vulnerable families get back on their feet. The furniture donation pick up organization encourages people to donate gently used furniture and transfer the items to those struggling financially to furnish their own homes. Furniture Banks operates in 36 states, so check their website to see if they are in your area.
Who your donation helps: The families served by this organization include the previously homeless, unemployed, victims of crime, battered women and children in retreat, immigrants, individuals with disabilities and victims of natural disasters.
Items they accept: Furniture Banks accepts good condition furniture of all sizes. They also provide a towing service to pick up cars and recreational vehicles.
How to schedule a pick-up: To schedule a pick-up with this organization simply schedule an appointment on the Furniture Banks website.
9. Vietnam Veterans of America (VVA)
The Vietnam Veterans of America are working to change negative beliefs towards Vietnam veterans and provides individual assistance in a variety of ways. This includes creating outreach programs for veterans experiencing homelessness, substance abuse, incarceration and more. The VVA furniture removal program operates through a program called Pickup Please.
Who your donation helps: The Vietnam Veterans of America promote and support the full range of issues important to Vietnam veterans and work to change public perception of Vietnam veterans.
Items they accept: The Pickup Please program accepts small furniture items, sports equipment, toys, kitchenware, electronics and lightly used household goods. Pick Up Please says that they will pick up “almost anything” in good condition, but the piece of furniture must be light enough for one person to carry.
How to schedule a pick-up: VVA operates in most states and they make it super easy to schedule a donation pickup online. You can also get to VVA by way of their Pick Up Please site.
10. Out of the Closet thrift stores
The Out of the Closet thrift stores chain is owned and operated by the AIDS Healthcare Foundation (AHF). This organization provides medical, preventive and educational resources for patients. AHF is the nation’s largest non-profit HIV/AIDS healthcare, research, prevention and education provider. The proceeds from Out of the Closet thrift stores directly benefit the AIDS Healthcare Foundation.
Who your donation helps: Donations and financial contributions to this organization fund AIDS Healthcare Foundation’s HIV/AIDS programs, free HIV testing and housing programs.
Items they accept: Out of the Closet Thrift Stores accept furniture, kitchenware, electronics, musical instruments, tools, books, vehicles, artwork and home decor.
How to schedule a pick-up: You can schedule your pickup by filling out your address and items in a form on their website. Something to note is that you must have at least two furniture items for them to complete a free pick-up. You can also deliver any pieces of furniture to their local stores.
11. PickUpMyDonation.com
PickUpMyDonation.com is an organization that works with independent non-profit thrift stores in their communities. They’re focused on making large item donations simple by getting your furniture request to a local charity in minutes. Although they are not a charity themselves, they put you in touch with smaller charitable chapters that support the area you live in.
Who your donation helps: Your donation will support the charitable cause of the thrift store you are put in contact with.
Items they accept: PickUpMyDonation.com accepts large furniture, large appliances, vehicles, tools, recyclable materials, outdoor recreation items and artwork.
How to schedule a pick-up: To schedule a pick-up, visit pickupmydonation.com to make a furniture removal request and fill out a form describing the items you want to donate. Next, they’ll put you in contact with the closest thrift store, and if they’re interested in your furniture, they will schedule a furniture removal pickup.
Tips for furniture donation pick up
Donating your furniture is a great way to get rid of furniture you don’t use anymore while also helping your community. Follow these tips for a seamless furniture pickup experience.
Schedule your donation pick-up in advance: Many charities’ free donation pickup spots fill up quickly, so it’s important not to wait until the last minute to make an appointment. Schedule as far in advance as possible to ensure you get the date and time that works for you.
Research different organizations: Instead of just picking the first charity on the list, make sure to do some research to make sure their values and methods align with your own. All of the charities listed do great things for their communities, but each has its own way of making an impact.
Prepare your furniture: Each charity will have individual guidelines for how they want your furniture packaged and prepared for pickup. Leave furniture uncovered to be inspected but make sure it is cleaned and houseware is boxed correctly.
Write off your furniture donation: Did you know you can write off your furniture donation on your taxes? Simply ask the charity picking up your furniture for a tax receipt or paperwork to file and you’ll be saving money this upcoming tax season.
Coordinate with neighbors: While many nonprofits allow you to simply leave furniture outside your home for them to retrieve, others might require you to be there. If this is the case, then it’s best to coordinate with a neighbor or friend to stop by when they’re scheduled to arrive.
If you follow these tips, you should have an easy transition and donation pickup day. Also, make sure to always check to see if the organization of your choice has any additional requirements.
Declutter with furniture donation pick up services
Finding a new apartment has never been easier with Rent.’s finder tool. Start your move off on the right foot by using a free furniture removal service to declutter your place and take care of any worries prior to moving into your new home.
Alex Heinz is a writer with experience in a variety of industries from tech to lifestyle. Her work has appeared in Business Insider, TechCo and PopSugar. She’s lived in a handful of large cities including New York and San Diego, giving her first-hand knowledge of the ins and outs of renting. In her spare time, you can find her exploring new hikes with her dog.
If you’re wondering where you go to pay off your student loans, you’ll first need to contact your loan servicer. If you aren’t sure who your loan servicer or loan holder is, you can contact the U.S. Department of Education for federal loans. For private student loans, you can contact the bank or lender who originated your loans.
Contact Your Student Loan Servicer
Before paying back student loans, graduates will have to figure out who their student loan servicer is. A student loan servicer is the company assigned by the U.S. Department of Education (federal student loan creator) to take care of the day to day servicing of a federal student loan. If a person needs to talk to someone about their federal student loan, they can reach out to the servicers instead of traveling to a government office.
Students don’t have to do anything for their loan to be transferred to a loan servicer. The federal student loan will be transferred to a servicer after its first disbursement. Once that happens, students should expect to be contacted by the servicer.
But, unexpected moves or outdated contact information could mean the servicer doesn’t reach you. If a student needs help figuring out who their servicer is, one option is to call the Federal Student Aid Information Center (FSAIC): 1-800-433-3243.
However, the FSAIC can only help students figure out their servicer if they hold federal student loans, not private student loans.
Another option for borrowers with federal student loans is to log into their Federal Student Aid account. From this portal, borrowers can access information on their student loan servicer.
Federal student loan borrowers can also check the National Student Loan Data System to find information about their loan servicer.
Once a student figures out their loan student servicer and contacts them, they can begin sorting through the repayment process. A loan servicer should help a student figure out how to repay loans free of charge.
Be warned, any federal loan servicer that asks for payment may be a scam, warns the U.S. Department of Education.
Recommended: How to Find Out Who Your Student Loan Lender Is
Grace Periods
A loan servicer can help students and graduates figure out when their loan repayment will begin. Most, but not all, federal student loans have a six-month grace period, or an allotted amount of time before a student has to start paying back the loan.
The student loan grace period generally begins once a student graduates, leaves school, or enrolls in class less than part-time. This time is meant for students to get in contact with their loan servicer and begin setting up a repayment plan so they don’t have to scramble post-graduation when so many other changes are happening.
Students should be aware that interest on their unsubsidized loans may be accruing during their grace period. For that reason, some students may decide to begin repayment before the grace period is up in order to keep the interest capitalization down.
Borrowers with subsidized student loans will not accrue interest on their loans during their grace period.
There are some circumstances that can extend or end a grace period early:
• Being called into active military duty. This will restart the grace period, which will begin again once the student returns.
• Going back to school before the end of the grace period. If a student goes back to school at least part-time, then they won’t have to repay their loans until they finish school, in which case they’ll have another six-month grace period.
• Consolidating loans. If a student decides to consolidate or refinance a loan before the end of the grace period, they’ll start their repayment as soon as the paperwork is processed.
Selecting a Repayment Plan
During the grace period, students can work with their loan servicer and other online tools to figure out the right repayment plan for them.
There are several student loan repayment plans a student can choose from, depending on their finances and the type of federal student loans they have.
• Standard Repayment Plan. All federal loan borrowers are eligible for this repayment plan. Payments are in a fixed amount each month and sets borrowers up to pay off their loan within 10 years.
• Graduated Repayment Plan. This plan starts out with low monthly payments that gradually increase every two years. Payments are made monthly for up to 10 years for most loans (10-30 years for consolidated loans).
• Extended Repayment Plan. In this plan, standard or graduated payments are made monthly, but at a lower rate over a longer period of time, typically 25 years.
• SAVE. The Saving on a Valuable Education (SAVE) Plan is the newest income-driven repayment plan. Payments are calculated as 10% of a person’s discretionary income; starting in July 2024, that will drop to 5%, and some participating borrowers will see their loan balances forgiven in as little as 10 years.
• Income-Based Repayment Plan. The income-based repayment plan allows for monthly payments that are roughly 10-15% of a person’s monthly income, but borrowers must have a high debt-to-income ratio to qualify.
• Income-Contingent Repayment Plan. In the Income-Contingent Repayment Plan, eligible borrowers will make monthly payments based on the lesser value of either 20% of their income, or the “amount you would pay on a repayment plan with a fixed payment over 12 years, adjusted according to your income,” according to the Department of Education.
• Income-Sensitive Repayment Plan. This plan is only available under a few federal loan programs. Payments are based on annual income, and the loan will be paid off within 15 years.
Depending on a borrower’s income and the type of loan they took out, they can work with their servicer to determine which student loan repayment plan might be the best course of action. If a borrower doesn’t reach out to their servicer to coordinate a repayment plan before the end of the grace period, they will be on the Standard Repayment Plan by default.
Start Repaying Student Loans
Once a repayment plan is selected and the grace period draws to a close, borrowers will begin making payments on their student loans.
Where a borrower will make their payment is dependent upon who their student loan servicer is. Most student loan servicers make it possible for borrowers to make monthly payments online, but it’s best to confirm that with the servicer before payments begin.
Most servicers also have an automatic payments set-up, where monthly payments are automatically debited out of borrowers’ accounts each month. Setting up automatic payments can help borrowers avoid missing a payment or racking up late fees.
Additionally, some federal student loans provide a discount when a borrower sets up automatic repayment online. For example, if a borrower has a Direct Loan, their interest rate is reduced by 0.25% when they choose automatic debit.
Repaying Private Student Loans
Private student loans are generally repaid directly to the bank or financial institution that issued them. Borrowers can check their statements to see who the loan servicer is. Generally, payments can be made online.
Refinancing with SoFi
When a borrower works with their student loan servicer, they can take advantage of free tools that might help them pay back their student loans quicker.
But, for some student loan borrowers, the existing interest rates and repayment plans offered by a servicer might not be the best fit.
In that case, borrowers may have the option of refinancing student loans. This can be helpful when there are multiple loans to pay off since refinancing allows borrowers to combine multiple loans into a new single loan and qualifying borrowers may be able to secure a lower interest rate.
Refinancing federal student loans eliminates them from all federal benefits and borrower protections, such as income-driven repayment plans and deferment. If you are or plan on using federal benefits, it is not recommended to refinance student loans.
SoFi’s student loan refinancing offers flexible terms and competitive interest rates. With no hidden fees or pre-payment penalties, borrowers can apply for refinancing in an easy online process — no phone calls required.
The first step to figuring out student loan repayment is figuring out who holds the loan, but with the right help, borrowers can have a plan set up to conquer their loans before the grace period is even finished.
With SoFi, refinancing is fast, easy, and all online. We offer competitive fixed and variable rates.
SoFi Student Loan Refinance If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans.
SoFi Loan Products SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
Non affiliation: SoFi isn’t affiliated with any of the companies highlighted in this article.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Seemingly forever, the average time between reaching a sales agreement and closing on that property has hovered around 45 days — a month and a half.
It’s not something consumers think about much when they set out to buy a first home or plan to upsize to accommodate life changes. In fact, if you were to describe the home buying experience solely upon the things we see in advertisements, the process would end with the sales contract and all parties would merrily proceed directly to the handing over of the keys.
Unfortunately, those ads don’t talk much about the next month or six weeks, the period real estate professionals call the “settlement process.” More than a few real estate agents will roll their eyes and sigh when asked by a client, upon the signing of a sales contract, “What’s next?”
There’s an entire industry built upon the “What’s next?” in question. When asked why it takes an average of six to seven weeks to get to closing, there are a lot of complex (and honest) answers. But there’s also room for improvement.
The process of orchestrating the collaboration of lenders, appraisers, home inspectors, one or two real estate agents, a title insurance company and possibly others is complex. It doesn’t lend itself to a 24-hour cycle. And the complex legal and regulatory web that can vary from state to state and even city to city doesn’t invite a quick and smooth passage to the closing.
Yet more can be done to ease that 45-day average. There are many processes and chokepoints that could be better addressed. The industry is finally recognizing those stubborn, delay-causing entities and processes and starting to address them head-on, giving us all hope that the 45-day close will one day be a relic of the past.
The chokepoints that the digital transformation hasn’t eliminated …yet
While much is made of the digital transformation that’s swept the title and settlement services industry in recent years, a large portion of that has addressed the core processes of issuing a title insurance policy. Title production platforms are usually the backbone of a digital or partially digital title operation. One would be hard-pressed to find many title agencies that aren’t using some level of technology in that regard.
Other complex and time-consuming tasks addressed by improved technology include title searches, document preparation, lien releases and even the closing itself, as RON and digital closings gain adoption rapidly. The good news is that this trend towards a general adoption of technology seems to be accelerating.
However, the settlement process varies from client to client, location to location. A form may be required in one county that isn’t in most others. A document might be needed closer to the closing date or as soon as a few days after the start of the process.
With all these nuances, it’s unlikely that a centralized production system developed for nationwide usage can eliminate the need to manually enter, for example, borrower information into a proprietary municipal website. There are dozens, if not hundreds, of similar tasks that, to date, have defied complete automation.
Take the wide-ranging requirement for addressing clouds on the title. For numerous reasons, the curative department of a title firm likely doesn’t have the technology to procure things like a satisfaction of mortgage or release. Instead, it’s often some combination of specialized technology, an internet search, a few emails or voicemails, a document with manually entered data and the like.
One significant hurdle to a faster closing process is the complex communication between the various professionals involved. In a typical transaction, a title agency must coordinate with several other parties, often using a mix of emails, phone calls, texts, specialized apps and online portals. This patchwork of communication methods not only makes the process cumbersome but also increases the chances of mistakes and delays.
And then, there’s the process of dealing with the property’s Homeowners Association (HOA) or even simply determining whether one is involved at all.
Dealing with the HOA — a nightmare for all parties involved
The sheer number of HOAs in the United States and the lack of uniformity involved in almost any element of their role in a real estate transaction is another glaring reason for the 45-day closing.
Nearly half (53%) of the owner-occupied homes in America are represented by some form of HOA, yet there’s no single database or central repository that comprehensively indicates which homes are part of an HOA.
There’s no uniform method of determining if a property management firm represents an HOA and, if so, which firm. There’s no easy-to-access resource advising how to communicate with every HOA or property management firm. There’s no universal means of determining what HOA documents are required in different states or what fees you need to pay the HOA to release the documents.
In addition, it almost seems that each HOA takes pride in sorting and storing that data in a unique way. Of course, HOAs and property managers are busy and have other priorities as well. Requirement by requirement, form by form, it has long fallen to the title agency or escrow company to slog through a number of blind alleys to sort the HOA process.
Those realities don’t even contemplate the numerous headaches and delays that come with identifying and dealing with multiple HOAs or the project management skills required to coordinate the Realtor, buyer and seller alike.
This is when an otherwise on-track closing is suddenly and indefinitely delayed by the realization that there is an HOA and that it’s not necessarily playing by the timelines of the closing. Even something as simple as obtaining a PDF might take weeks.
Additionally, almost each HOA in the United States has (and occasionally uses) the ability to change its requirements and documentation with almost no obligation to report these changes to any centralized authority. It quickly becomes apparent that just the process of collecting and exchanging proper HOA documentation is a massive impediment to achieving a faster closing time.
There is growing hope, however. As more title businesses clamor for new technology or improved service offerings for addressing chokepoints like these, more solutions are coming online. More professionals and firms are offering outsourced services and technology that lead to a more streamlined approach. AI and LLMs (large language models) are increasingly being brought into the fray as well.
Now that the title industry has addressed and begun to adopt the automation of core processes (title production platforms, automated search products), it is collectively putting more resources into addressing some of the more granular but every bit as stubborn obstacles to a cleaner, faster closing.
New applications are coming to market faster than ever to help process handwritten documents or non-standard forms and input them into searchable PDFs or even directly into a title agent’s production system.
“Stare and compare” is increasingly replaced by more sophisticated OCR and AI applications. Status updates and other routine forms of basic but time-consuming communication or data collection are moving away from voicemail or email toward RPA and AI applications. The list of improvements is growing at an accelerating pace.
The title industry has finally put the foundation in place for a modernized workflow. Now, it is focusing on some of the ancillary processes that have historically clogged the production pipeline. Real estate will look different in 2030, perhaps even in 2024. I am convinced that our industry will finally put the 45 days to close to bed once and for all.
Anton Tonev is the cofounder of InspectHOA.
This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.
To contact the author of this story: [email protected]
To contact the editor responsible for this story: Deborah Kearns at [email protected]
Here’s a bright idea — it’s time to work smarter, not harder on your holiday lights this year. Smart LED lighting not only allows you to create festive lighting you can control, but it can also save you money on your electric bill.
We’ve found top-rated, customer-loved smart holiday lights that can be used to showcase the colors and lighting effects you want on your Christmas tree, Christmas wreath, outdoor holiday decor and more. Plus, most of our smart light picks can be controlled using your smartphone. How genius is that?
Christmas home decorating ideas using smart lights
Transform your entire home into a holiday wonderland that your family, friends and neighbors will love. Let’s take a look at amazing smart lighting options that make decorating your home for the holidays super simple.
Philips Hue Christmas Festavia 65′ string lights
Philips Hue
Even Santa would approve of decorating your Christmas tree, as well as the inside and outside of your home, using Philips Hue Festavia 65-foot smart string lights.
Each string includes 250 individual mini smart LEDs that are app controlled and can work in conjunction with all other Philips Hue smart lighting products that use a Philips Hue Bridge (sold separately or as part of a smart lighting kit).
The Festavia string lights are also available in a 130-foot length that includes 500 individual mini lights ($360). Both sets can be set up to sync with your favorite holiday music.
A smart Christmas tree: Mr. Christmas Vermont Spruce
Mr. Christmas
One of the best decisions you can make this holiday season is to adopt smart lighting in all aspects of your Christmas decorating, starting with the Christmas tree. The Mr. Christmas Vermont Spruce is seven feet tall with a 48-inch diameter. It comes with 400 mini-LED smart lights built into the artificial tree, allowing for quick and stress-free setup. The lights can be voice-controlled via Alexa, enabling you to instantly change the lighting color or lighting mode
In addition to all white or multi-colored lights, you can opt to have all of the lights display just red, green, blue, light blue, yellow or purple. Lighting modes include steady, sparkle, firefly, flip and fade. You’re also able to create a schedule for the lights to turn on and off, or switch between colors and scenes automatically.
A flexible and customizable decorative light string: Govee Christmas lights
Govee
For your indoor or outdoor holiday light decorating, the Govee Christmas lights are an affordable alternative to string lights. However, these offer just as many customization options.
This 66-foot-long string light set includes 200 mini-LEDS that are fully programmable. Because it’s IP65 rated, this light strip can be used indoors or outdoors. The flexible string can be wrapped around a tree, staircase, fence or pillar. It can also be hung around the edge of a ceiling, around a doorframe, or on any wall. Use your creativity to discover unique ways of using these bright and colorful smart lights throughout your home.
Once set up, the Govee Christmas lights can be programmed to display your choice of 16 million colors, using a variety of pre-programming lighting effects. The lights can even sync with whatever music is playing. There are 99 pre-set lighting scenes to choose from. You have full control over these lights (and all other Govee smart lighting products) using Alexa voice commands or the easy-to-use Govee mobile app (for iOS and Android-based devices).
If you’re looking for more traditional holiday string lights, but want to control them using a smartphone app, we suggest these Twinkly Strings smart lights. The 65.5-foot string includes 250 mini-LEDs, each of which can display more than 16 million colors, so you can decorate your home with beautiful light and color.
Using the Twinkly mobile app, it’s easy to control one strand of string lights or multiple strands at the same time. This means all of the lighting can sync perfectly within each room or area of your home. Using the app, you’re also able to create a schedule to turn the lights on and off, have the lighting change colors or patterns at predetermined times, have the lights sync with the music that’s playing, or instantly switch to a light color and pattern that you want. The lights also accept voice commands. Because they’re waterproof, you can set them up indoors or outdoors.
While it’s possible to set up multiple 65.5-foot Twinkly Strings lights to work together, there’s also a cluster version of the lights that includes 400 mini-LEDS on a 19.5-foot strand. This variation allows you to create different visual effects using a larger number of smaller LED lights (within a smaller space) that can also display over 16 million colors.
Offering yet another way to decorate the outdoor areas of your home, Govee offers its permanent outdoor lights package. Throughout the year, these lights can brighten a porch, terrace, or front door area of your home with bright decorative white lights. During the holiday season, these same lights can transform your outdoor space with holiday colors and animated light sequences.
These smart lights come in 100-foot strands that contain 72 LED eaves lights that are waterproof and controllable using the same Govee mobile app that works with all of the company’s smart lighting products. The lighting set also responds to voice commands via Alexa or Google Assistant.
Each of the lights can alternate between 16 million user-selectable color options and together showcase any of the 75 pre-programmed scenes that are accessible via the app. Each light has a maximum brightness of 26 lumens. Since these lights are designed to be attached permanently to the outside of your home, special VHB glue and clips are provided.
Holiday wreaths with integrated smart lighting: Twinkly pre-lit wreath
Amazon
Using the same mobile app that controls other smart lighting products from Twinkly, you’re able to control the 50 mini-LED lights that come pre-wired within this artificial holiday wreath that has a two foot diameter.
The smart lights within the wreath can display more than 16 million colors in a variety of customizable or pre-created lighting patterns. The app is available for iOS and Android mobile devices.
The wreath’s lighting responds to voice commands via Alexa or Google Assistant. To coordinate perfectly with this wreath, your Christmas tree and other holiday decor, Twinkly also offers a nine-foot, pre-lit garland ($115). It utilizes 50 fully controllable smart mini-LEDs and works with the same app.
Decorative smart lighting you can use all year long: Nanoleaf Shapes
Nanoleaf
Nanoleaf offers a variety of decorative smart lighting products. Most come in a collection of flat tiles that get hung on a wall in whatever pattern you choose. This LED lighting kit includes nine hexagon-shaped tiles that are app-controlled. Each tile can display more than 16 million colors. Using the Nanoleaf app, you’re easily able to choose from hundreds of pre-created animated light patterns, have the lights sync with music, or display whatever color(s) and patterns you want.
Throughout the year, Nanoleaf Shapes can add decorative ambience to any room, but during the holidays, the lights can mimic the Christmas lights strung throughout your home or on your tree.
If nine hexagon-shaped titles isn’t enough, expansion kits with hexagonal and different size triangle-shaped titles are sold separately. What we love about these smart light products is that you can mix and match the Nanoleaf tiles and create whatever pattern you desire on your walls. Then you can choose the colors and animated light patterns that are displayed at any given time. Each tile sticks to the wall using removable mounting tape that’s supplied.
Use regular light fixtures to display holiday lighting: Philips Hue A19 LED smart bulb starter kit
Philips Hue
One of the great things about the Philips Hue home smart lighting ecosystem is that there are literally dozens of options to choose from, including stand-alone light fixtures with color-changing smart bulbs built into them, smart light strips, decorative lights and replacements for recessed ceiling lights.
The expansive Hue product line also includes standard A19 LED light bulbs that can replace the traditional light bulbs within your existing light fixtures. Doing this transforms those light fixtures into smart lights within minutes.
To take advantage of the Philips Hue smart lights, you need to either purchase a Hue Hub (that’s sold separately) or acquire the necessary hub as part of a Hue Starter Kit.
We recommend the Philips Hue A19 LED smart bulb starter kit because it includes the required hub, along with four standard size (A19) light bulbs that can be used within any of your existing light fixtures. Once this starter kit is set up, you can easily add any additional Hue smart lighting products (including more A19 bulbs, which are sold separately) to your home and control them all using the same Hue mobile app.
Each A19 smart bulb can display many shades of white, as well as more than 16 million colors. And in addition to selecting the colors, you’re also able to set each bulb’s brightness. The lights can be controlled one at a time, in groups within a single room, or you can use the app to control all Hue lights at once. Using a few on-screen taps or voice commands, it’s possible to create customized lighting scenes or choose from thousands of pre-created animated scenes –- including many that are holiday-specific.
Upgrade your artificial Christmas tree: Fraser Hill Farm 12-foot flocked Christmas tree with smart lights
Amazon
This holiday season, make things easier on yourself with two simple moves. First, swap out the real tree for a super-realistic artificial Christmas tree – no more fussing with the live ones. Second, bring some smart lighting magic to your tree to make it the ultimate holiday showstopper.
Meet the Fraser Hill Farm 12-foot flocked Christmas tree with built-in smart LED lights. It’s a breeze to set up, and it stands at 12 feet tall with a 76-inch diameter. If that’s too big for your space, don’t worry – Fraser Hill Farm offers similar artificial trees in 6.5′, 7.5′, or 9′ heights.
This tree has 5,483 lifelike, flocked tips that give it the charm of a traditional cut tree. It’s designed to last for years and dazzle you every holiday season. Plus, it comes with a bunch of cool lighting options to suit your mood.
Related content from CBS Essentials
Jason R. Rich
Jason R. Rich (www.JasonRich.com) is an internationally recognized consumer technology expert with more than 30 years’ writing experience. He’s also an accomplished author and photographer. One of his most recently published books, The Remote Worker’s Handbook: How to Effectively Work From Anywhere ($24.99, Entrepreneur Books) is now available from Amazon and wherever books are sold.
Little things are worse than going through all the work of planning a trip only to have something change on you at the last minute. Whether it’s a broken bone, a canceled flight or a sudden sickness, a lot is on the line when you’re making vacation plans. That’s why many travel companies offer travel protection.
If you’re wondering what travel protection is, you’ve come to the right place. We’ll also talk about how vacation protection works, what it covers and the difference between travel insurance versus travel protection.
What is trip protection?
Trip or travel protection is a limited type of cancellation coverage that you purchase directly from a travel provider. The coverage is typically self-insured by the company through which you buy the protection.
For example, a cruise line may offer its own trip protection option when booking a cruise to allow you to recoup costs if you need to cancel. Likewise, an online travel agency (OTA) might offer protection for a flight and provide you with a voucher in case of cancellation.
Travel protection vs. travel insurance
The terms travel protection and travel insurance are often used interchangeably, and both aim to protect you financially if you have issues during your travel.
Although it can offer some of the same benefits as travel insurance, trip protection is notinsurance, and it doesn’t have the same regulatory oversight that insurance policies do. Therefore, it’s important to know what the protection plan covers before you purchase it so you don’t have any unpleasant surprises down the road.
The coverage that trip protection offers is usually quite specific — often, it’s limited only to cancellation. While it may help you out if your trip needs to be canceled, it typically won’t cover medical expenses or reimburse you for lost baggage. For this reason, many travelers opt for more comprehensive coverage in the form of travel insurance.
What does trip protection cover?
The coverage on any trip protection plan you purchase will vary with your individual policy.
For example, Carnival Cruise Line offers Carnival Vacation Protection. This plan provides both insurance and non-insurance coverage at once. The plan includes trip cancellation coverage, provided by Carnival, along with travel insurance underwritten by Nationwide.
If you need to cancel your trip for a covered reason, you’ll receive a full refund in cash. If you cancel for any other reason, you’ll receive 75% of your trip cost in the form of a Carnival voucher.
But what is travel protection for flights? Is there such a thing? While many airlines offer you the option to purchase insurance when you book your flight, some travel providers still offer trip protection instead.
For example, until recently, the OTA company GoToGate offered its own self-funded cancellation protection that reimbursed airfare expenses for covered events. However, it has now switched to a regulated travel insurance provider.
Another common trip protection offering is travel assistance services. These can include referrals to medical services, help with translation, managing travel documentation and aiding with lost or damaged luggage.
How does travel protection work?
The way your travel protection plan works depends on the specific policy. If you need to use it, you’ll likely coordinate directly with the travel provider for a claim.
For example, Carnival’s plan will give you a cash reimbursement or a voucher for future travel, depending on the reason for your cancellation. Either way, you’ll work directly with Carnival to obtain your compensation — not a third-party insurance agency.
Should you buy travel protection?
It can be tempting to purchase travel protection, especially if your vacation includes many moving parts or is expensive. This is especially true if your plans aren’t solid — cancellation protection can provide reimbursement if you need to alter your bookings.
However, travel insurance is a better option if you’re looking for more comprehensive coverage. This is because there tends to be a much broader scope of protection included with travel insurance.
Here are some of the most common travel insurance inclusions that you won’t find in most trip protection plans:
Common types of travel insurance
Check your credit cards for complimentary coverage
Before buying either trip protection or travel insurance, check the benefits of your credit cards. Many travel credit cards offer complimentary travel insurance as a perk of being a cardholder.
To be eligible for this insurance, you’ll need to charge the trip to your card. Once done, you’ll be covered automatically. The types of insurance and the policy limits you’ll receive will depend on which card you hold.
The Platinum Card® from American Express, for example, provides trip cancellation coverage, trip delay reimbursement, lost luggage insurance, trip interruption insurance, rental car insurance and Premium Global Assist services. Note AmEx will reimburse you for expenses incurred due to a lost bag, it doesn’t cover instances where your luggage is simply delayed.
This contrasts the coverage offered by the Chase Sapphire Reserve®, another premium travel credit card. Like AmEx, the Chase Sapphire Reserve® provides reimbursement for a bag that’s lost or damaged, but it’ll also cover delayed luggage by providing up to $100 per day for five days to purchase necessities.
Terms apply.
If you’d like to purchase travel protection
Purchasing trip protection may be tempting if you’ve made a lot of travel plans or you’re worried you’ll need to cancel your trip.
However, because travel protection isn’t actually insurance, it’s not subject to the same regulations as standard travel insurance policies. You’ll want to be sure that any trip protection coverage you purchase is from a legitimate company — read the fine print to be sure.
Otherwise, consider purchasing comprehensive travel insurance for your vacation or using your travel credit card’s complimentary travel insurance offerings for coverage.
How to maximize your rewards
You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2023, including those best for:
These days, you can insure almost anything. Did you know, for example, that Julia Roberts has insurance for her teeth, and before Daniel Craig filmed a James Bond movie, he insured his entire body? While you probably don’t need to insure any of your body parts for millions of dollars, you might find yourself wondering when you should buy life insurance, or whether renter’s insurance is really necessary.
To help you decide on the right type and amount of coverage, we’ve broken down which kinds of insurance you will most likely need (other than health insurance, of course).
1. Life insurance
Life insurance is about more than just financing your funeral. It also allows your family to keep paying the bills if something happens to you.
People often think they don’t need life insurance if they don’t have dependents. But if you have debt such as student loans that someone has co-signed, your life insurance can be used to pay off your loans.
It’s common for employers to offer life insurance as part of their benefits package, but it’s worth noting that the life insurance your employer offers may not be enough, especially if you have dependents. Ideally, your life insurance payout should be enough to invest and yield returns that could replace your income annually. For example, if you assume that you’ll get a 5% return on the money you invest, you would need $1 million in coverage to replace a $50,000 income.
Here’s an overview of some of the most common life insurance options you might consider.
Term Life Insurance
Term life insurance is the simplest and most common form of life insurance. It covers your life for a specific period of time, and pays only if your death occurs during the term. This timeframe is typically anywhere from one to thirty years, the longer the term the higher the premium. Term life insurance can be more affordable than other types of life insurance.
💡 Quick Tip: Term life insurance coverage can range from $100K to $8 million. As your life changes, you can increase or decrease your coverage.
Whole Life Insurance
Whole life insurance covers you for your entire life. If you make consistent payments toward your policy, you’ll build a cash reserve for your family upon your death.
Universal Life Insurance
In exchange for premiums, universal life insurance can provide coverage for as long as the policyholder is alive, and some policies also accrue cash value. When the policyholder dies, their beneficiaries typically receive a tax-free death benefit in the amount specified by the policy.
Indexed Universal Life Insurance
Indexed universal life insurance (IUL) gives policyholders the option to put money towards either a fixed account or an equity index account. Index accounts with universal life policies often include well-known indexes and can be a good option if you’d like to accumulate tax-deferred cash as well as maintain a set amount of money in a fixed account.
2. Disability Income Insurance
Disability income insurance, also referred to as disability insurance, replaces a portion of your salary if you become disabled. Some employers don’t offer disability insurance, but even if yours does, you may want to consider a supplementary policy to top up the amount that you receive.
Depending on the policy, disability insurance kicks in when you become partially, completely, temporarily, or permanently disabled. Keep in mind that there is often a waiting period before benefits start, which could range from one month to a year, depending on your policy and whether you have short-term or long-term disability insurance. The longer the waiting period on your policy, the cheaper your premiums often are.
If you have to take a job that pays less because of a disability, some policies may pay you part of the difference.
Note that disability insurance is expensive, often between 1% and 3% of your salary, and many organizations offer it as a benefit. If you’re evaluating offers between two employers, it’s worth factoring in how valuable this type of insurance is to you.
3. Long-Term Care Insurance
If you’re considering a nursing home, day care, home health aide, or other type of long-term care, be prepared to pay. A Genworth survey found that the average price of a private room in a nursing home is $9,034 a month. A typical assisted living facility charges around $4,500 a month, while a home health aide runs $5,148 a month.
To ensure you can foot the bill, the American Association for Long-Term Care Insurance recommends buying a policy in your mid-50s to qualify for the best premiums. Benefits kick in when someone isn’t able to take care of everyday activities or suffers from severe cognitive impairments. Policies vary by the specific level of impairment, the type of services provided, and the length of time the covered person lives after becoming impaired.
Depending on your policy, your benefits may not start until up to 90 days after impairment, and some may require that you receive paid care in the meantime.
Recommended: 8 Popular Types of Life Insurance for Any Age
4. Car Insurance
If you own or lease a car, car insurance is a must. But there are different kinds to consider.
Collision and comprehensive insurance will cover damage to your car and can help replace it if it’s been stolen.
Liability insurance covers you if you get sued after causing an accident. There are three maximum liability limits you can get in a car insurance policy: bodily injury per person in a given accident, bodily injury for all injuries in a given accident, and personal property damage in a given accident. Each state requires different insurance minimums by law.
However, you may want higher limits than the minimum. You may be able to save money on collision and comprehensive coverage by getting a higher deductible of $500 or $1,000. If you drive a car that’s worth less than $1,000, you may want to consider dropping collision and comprehensive, though you’ll still need liability.
💡 Quick Tip: Saving money on your fixed costs isn’t always easy. One exception is auto insurance. Shopping around for a better deal really can pay off.
5. Homeowners or Renter’s Insurance
Homeowners insurance covers damages to your home or theft of personal possessions. It also includes liability insurance to cover accidents that happen on your property. However, it excludes things like floods, earthquakes, and the (hopefully unlikely) event of war.
You should have at least enough insurance to cover the replacement value of your home and possessions. This usually means getting guaranteed (or extended) replacement cost coverage. That’s different from actual cash value coverage, which covers you for the current value of your possessions.
If you’re renting instead of buying, renter’s insurance is similar, but only covers your possessions and personal liability for damages. It’s worth having in case you leave the water on and accidentally flood your kitchen. The minimum deductible for tenant or homeowner’s insurance is usually $500, but according to the Insurance Information Institute, raising the deductible could save you money.
One important element for both of these is liability insurance. This helps protect you against lawsuits, and covers things like people slipping and falling on your property. One hundred thousand dollars of liability coverage is a fairly standard amount.
Recommended: How Much Homeowners Insurance Do You Need?
6. Umbrella Liability Coverage
Umbrella coverage is essentially extra liability insurance, and most importantly, it protects you and your assets in the event of a lawsuit. It covers you beyond the limits of your car or home liability coverage. For example, umbrella coverage will protect you from libel, slander and false imprisonment.
Often it is more economical to get an umbrella policy rather than getting excess home or car liability coverage. It’s a good idea to coordinate car, home, and liability coverages. After all, you wouldn’t typically have a $100,000 deductible on your umbrella policy if your car and homeowner’s insurance have $100,000 of coverage.
The first $1 million in umbrella coverage typically costs about $150 to $300 a year, which is often less than what most people would pay for additional coverage in that amount. As your income grows and you accumulate assets, you may want to consider raising the limit.
The Takeaway
Insurance can offer peace of mind and a degree of financial security. But the type and amount of coverage you need will depend on a number of factors, including your lifestyle, health, budget, and financial goals.
When the unexpected happens, it’s good to know you have a plan to protect your loved ones and your finances. SoFi has teamed up with some of the best insurance companies in the industry to provide members with fast, easy, and reliable insurance.
Find affordable auto, life, homeowners, and renters insurance with SoFi Protect.
Photo credit: iStock/urbazon
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Coverage and pricing is subject to eligibility and underwriting criteria.
Ladder Insurance Services, LLC (CA license # OK22568; AR license # 3000140372) distributes term life insurance products issued by multiple insurers- for further details see ladderlife.com. All insurance products are governed by the terms set forth in the applicable insurance policy. Each insurer has financial responsibility for its own products.
Ladder, SoFi and SoFi Agency are separate, independent entities and are not responsible for the financial condition, business, or legal obligations of the other, Social Finance. Inc. (SoFi) and Social Finance Life Insurance Agency, LLC (SoFi Agency) do not issue, underwrite insurance or pay claims under Ladder Life™ policies. SoFi is compensated by Ladder for each issued term life policy.
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One of the nation’s largest home builders, PulteGroup, also operates its own financing division called “Pulte Mortgage.”
This is a common setup employed by large builders that look to control the process from start to completion.
It allows them to streamline operations and move their homes in a timely fashion, without relying on third parties that might cause delays.
Their “one-stop shopping” experience allows them to work hand-in-hand with the builder to coordinate the processing of your loan with the construction of your new home.
Read on to learn more about their lending process, rates and fees, loan programs, and customer reviews.
Pulte Mortgage Fast Facts
Captive mortgage lender for the PulteGroup
Offers home purchase loans for its new home buyer clients
Founded in 1972, headquartered in Englewood, Colorado
Parent company is third largest home builder in the country
Publicly traded company (NYSE:PHM)
Funded over $7 billion in home loans last year
Licensed to do business in 28 states
Most active in Arizona, California, Florida, North Carolina, and Texas
Also operates a title insurance and homeowners insurance agency
Company hours are Monday – Friday: 7:00 am – 6:00 pm MT
Pulte Mortgage is the home lending division of its parent company PulteGroup, a top-3 home builder in the United States. Only Lennar and D.R. Horton are bigger than them.
The home builder’s roots stretch back to 1950 when then 18-year-old William “Bill” Pulte built a five-room bungalow near Detroit, Michigan. The company later went public two decades later.
Some of the company’s home building brands include American West, Centex, Del Webb, DiVosta Homes, John Wieland Homes, Neighborhoods, and of course Pulte Homes.
Pulte Mortgage has been in operation since 1972 and is headquartered in Englewood, Colorado. It has apparently helped more than 700,000 customers since opening its doors.
They offer home purchase financing to buyers of new homes throughout the country where they are licensed, 28 states at last glance.
Last year, the company funded about $7 billion in home loans, and were most active in Florida and Texas, with each state accounting for roughly 20% of overall volume.
Like other major home builders, they also have their own title insurance company, PGP Title, and insurance company, Pulte Insurance Agency.
How to Get Started
First you must register for an account on the Pulte Mortgage website. Then you can access the electronic loan application.
They say they offer a high-touch digital mortgage experience, meaning a mix of the latest technology combined with a human lending team
Once you complete the digital mortgage app, you will be assigned a loan number and provided with access to your own personalized Loan Dashboard.
Any required documentation can be uploaded via smartphone/computer or securely linked to your application.
At this point, a designated loan team will be assigned, including a loan officer, loan processor, mortgage underwriter, and closer.
Pulte Mortgage prides itself on knowing its parent company’s processes and timelines better than anyone.
This means you should be in good hands when it comes to closing on time and avoiding any costly delays.
If and when you have questions, you can reach out to your loan team. You can also check loan status 24/7 to see where you’re at in the process.
They appear to make it easy to complete most tasks electronically/remotely, and their affiliated title and insurance agency may help streamline the process.
Just be sure to shop around for those services as well as the price and service can vary.
Loan Programs Offered by Pulte
Home purchase loans
Conforming loans backed by Fannie Mae or Freddie Mac
FHA loans
VA loans
USDA loans
Fixed-rate and adjustable-rate options available
Pulte Mortgage says they have more than 200 different loan options. I’m not sure what those are, but they appear to offer all the basics you would expect from a full-service mortgage lender.
This includes conforming loans, jumbo loans, and government-backed loans, including FHA, USDA, and VA loans.
Both fixed-rate loans and adjustable-rate mortgages are available, including the 5/1 ARM, 7/1 ARM, and the 30-year fixed.
What they might offer that the other guys can’t is big mortgage rate buydowns if you use them and their parent company to buy/build a home.
Lately, builder’s financing divisions have been advertising mortgage rates that are 2% or more below prevailing market rates.
They only appear to offer home purchase loans (no mortgage refinances), which makes sense because they are a home builder.
With regard to property type, they provide financing on single-family homes, condos, townhomes, and anything else they develop.
All occupancy types should be permitted, assuming you’re buying a second home or investment property.
Pulte Mortgage Rates and Lender Fees
Unfortunately, they do not provide any information regarding their mortgage rates or lender fees on their website.
This isn’t uncommon, but I do give lenders transparency points when they provide these details online.
As mentioned, the only thing they do advertise is big mortgage rate buydowns on their website if you use them to buy a PulteGroup home.
It’s unclear what lender fees, if any, they charge. But be sure to look at the big picture, the mortgage APR, which incorporates the interest rate and fees.
And take the time to compare their offer to other unaffiliated lenders. It’s perfectly acceptable to buy a newly built home using a third-party bank, lender, or even mortgage broker.
Even if you plan on using them, it might not hurt to get additional quotes to increase your bargaining power.
Pulte Mortgage Reviews
On Zillow, Pulte Mortgage has an excellent 4.74/5-star rating from over 350 customer reviews.
But there are some mixed reviews if you take the time to read them, with some calling them pushy, incompetent, etc.
Perhaps more concerning is they have a 1.13/5 rating on the Better Business Bureau (BBB) from nearly 200 customer reviews. And more than 200 complaints over the past 12 months.
They also have an ‘NR’ rating, which could indicate there is an ongoing review/update of the business’s file on the BBB website.
Their headquarters also has a 2.4/5 Yelp rating from about 165 reviews, though they’ve got a 4.9/5 on Facebook from 1,100+ “votes.”
So a bit of a mixed bag here, which might require some reading of reviews to see what some of the issues have been.
Remember, at the end of the day you DO NOT need to use the home builder’s mortgage lender to purchase a newly-built home.
It’s always wise to shop around and get multiple quotes, including ones from the builder and unrelated banks/lenders.
That way you can compare offers, and if need be, negotiate with the builder’s lender with increased leverage.
You don’t want any one lender to think you don’t have options, so gathering multiple quotes might give you a leg up.
It may also open your eyes to better options/offers you weren’t previously aware of. This is the case whether buying a new home or an existing home.
Long story short, put in the time or you may face disappointment when it’s too late in the process to switch lenders.
Pulte Mortgage Pros and Cons
The Good Stuff
Can apply for a home loan online via digital application
Paperless options like document upload and bank account verification
They offer big mortgage rate buydowns to their home buyer customers
Offer a streamlined process with their own title/insurance companies
Plenty of loan options to satisfy most home buyer’s needs
Free mortgage calculator, glossary, and home buyer guides online
The Maybe Not
Not licensed in all states
Only offer home purchase loans
Mixed customer reviews and high number of complaints