You have probably heard of the term leasing before, especially used in association with cars or real estate. The way it works is that you have an objective; you want to travel into the countryside and your current car won’t do or you see a prime property you cannot afford to buy but would love to make use of. By entering into a lease agreement with the owner of the car or property, you are able to use the item under specific terms until the agreed period expires or either party opts out. This same principle applies to domain names which are often referred to as internet real estate. In this article, I will share on the best place to lease domain names that I have found so far.
Why Lease Domain Names?
This is a very valid question. After all, a quick search of the internet will reveal hundreds of companies that sell domain names, some even going for less than a dollar! That notwithstanding, leasing domain names comes a number of domains such as;
- Low initial cost: Imagine you are a startup that is low on capital but have spotted the perfect domain name that is way out of your budget. Leasing in this case is the great option, provided you can agree to the terms provided by the current holder of the domain name.
- Long term purchase option: How many times have you come up with a great idea for a domain name only to discover that it has already been taken up? This is a reality we come face to face with once in a while. However, in the event that you are still willing to purchase it from the current owner, a lease agreement with monthly payments can help break down the current cost into more affordable alternatives.
- Increased visibility for your business: Sometimes, you need not change your business domain name out rightly.
Most of the domain names available for leasing are short, precise and depending on their age, might have garnered a high page authority; meaning that they rank well in search engines. By leasing a domain name with high page authority, you can redirect all traffic to that domain name to your own. Over a period time, your business domain name will become “associated” with that highly ranked name and regular visitors will with time learn to visit your domain name directly.
- Revenue for domain name owners: If you are in the business of spotting a good domain name and acquiring it cheaply with the intention of selling it for a huge profit in the future, then leasing domain names is a great option for you to earn some income as you wait. Depending on the popularity of your domain name, you might not have to wait too long before you receive a great offer from an interested buyer. That notwithstanding, the revenue from the leasing, however small, can help contribute to annual domain name renewal charges as you await your preferred offer.
- Security for domain names: Leasing often necessitates the transfer of certain privileges to the entity leasing your domain name. Depending on your experience in the business and how you go about your transaction, you can inadvertently transfer vital privileges to client and effectively transfer total ownership to them! However, this need not happen today because a number of companies now offer professional leasing services that guarantee security for the domain name owner and fair treatment to the client. This way, even the novice domain name owners can be guaranteed security for their precious internet real estate.
The Legal Jargon
Below are a few terms that you are likely to encounter should you get into the business of leasing domain names. This list is by no means exhaustive.
- Lessor: The domain name owner as verified by a Whois search that is willing to lease the domain name at a cost payable by the Lessee
- Lessee: The party that is temporarily granted use of the domain name at a cost payable to the Lessor
- Term: The period between the effective date and the expiration date during which the Lessee has access to and use of the domain name.
- Payments: All the fees required to facilitate the temporary domain name transfer from the Lessor to the Lessee as well as the agreed upon monthly rental charges for use of the domain name.
- Lease: The binding agreement between the Lessor and Lessee during temporary use of the domain name.
The Best Place to Lease Domain Names
My hope is that by now you have a better appreciation of why there is need to lease domain names and the legal terms involved. As I read up on the domain name leasing business, one name constantly came up in my searches and was none
other than Epik. The company that refers to itself as “The Swiss Bank of Domains” prides itself in handling multiple six-figure US$ domain name transactions as shared by its CEO Rob Monster in a response to this forum thread. The fact that more than one company trusts Epik to handle their transactions speaks well of its credibility to handle your domain names leasing business.
- Customer Support: This is the most important aspect of my personal considerations when making a choice of aservice provider. Whereas the site guarantees you 24/7 support, it is always good to search online platforms for reviews and let’s face it, it is not an easy task to hide thousands of complaints from dissatisfied customers. The fact that you only find glowing tributes of Epik means that they are doing a good job on this front.
- Commission free transactions: This comes second on my list of priorities. This in no way means that I do not appreciate the services of brokers or middlemen but it is not uncommon to hear of transactions that fall through based on prohibitive commissions being charged. Epik guarantees this through use of its “Masterbucks” where proceeds from transactions can be used to pay for other services on Epik or cashed out at a 5% cover payment.
- Security for the Lessor and Lessee: This is another important aspect that Epik seems to cover rather nicely. According to its terms, parties intending to use Epik as their domain leasing company ought to transfer their domain name hosting to it. Epik will then act as a neutral entity overseeing the transaction; ensuring that the Lessor cannot transfer the domain name during the term of the lease and that the Lessee cannot alter the Whois information and claim ownership of the same.
- Support to the Lessee: Epik guarantees support to the Lessee throughout the term of the lease. It is not rare to want to change your DNS records or activate certain services upon changing to a different host. The fact that Epik supports this takes the load off any Lessor, especially if they are new to the technical side of things.
I must admit that I borrowed that last header from the Epik blog. So whether you are an experienced or novice domain name owner or are interested in leasing a domain, I pray that this article has made your choice easier. Do leave me a comment and I will be sure to respond.