Mike in the Seattle area asks:
What should I charge for real estate photos that I've shot for selling the property and now the new owner wants to use my photos for their newly acquired rental property? Same amount as the listing? Twice the amount since they can reuse the photos?
My guess is that the majority of real estate photographers shooting rental property photos charge the same for shooting rentals as homes for sale and completely blow off the licensing differences. Here are some things to think about:
- In general, for sale photos are used for a relatively short time but the transaction value is large. Rental photos are usually used for a long time over and over but the transaction value is lower.
- Research your local market. See what the local expectations are. If you live in an area with lots of rentals, it certainly makes sense to treat rentals very differently. That is, charge at least twice as much and license differently. Rental owners may well push back if other photographers are not doing the same thing.
- You should have a different license agreement for rental photos. Rental clients are more likely to think that they own the photos and believe they can use them forever and even sell them to a new rental property owner. Are you going to transfer ownership to them, or allow them to use the photos for a specific amount of time? A discussion of the alternatives is a good place to start the pricing discussion.
- If they are licensed to use them for a year or so, then charge them your "home for sale rate" since some listings can last over a year.
- If you are going to transfer ownership to them, then my guess is that you should charge them 3 or 4 times the "for sale rate."
- If you are shooting a bunch of properties for the same client, a volume discount may be in order.
What are others' experiences with shooting rentals? How many are routinely charging more for rental photos and licensing them differently?