RentBerry- Have Your Potential Tenants Bid for Your Place!

Controversial US 'rent-bidding' start-up Rentberry to launch in Australia, tenant unions slam the idea

Another "industry disruptor" on the way... I'm sure there'll be plenty up in arms over it but would you use it for your IP?

 

Interesting, does it do away with PMs also or can PM use this for their landlords?

 

I'm not sure how it's 'transparent'. Presumably anyone can make a fake account (including the owner or PM or someone they know) and artificially inflate the price. I don't agree with it - some things should just have a fixed price

 

illegal, so won't fly here.

 

Uber was also not permitted in many places ... yet thrives.

Simon - curious why you think it should be banned?

 

Let the free market reign I say. Bidding whether for hotel rooms, cars, properties, flights, taxi fares is the way of the future in my view (and can ultimately benefit both parties). Market efficiency is in my view always a positive.

 

If you think your place is worth more rent, just advertise it for more, you will soon see if there are any takers.

Unlike Uber, I can't see tenant demand for this

 

A fake bid would be a breach of the Fair Trading Act. But either way, buyer beware. Just like at auctions I assume some bids might be fake and therefore make my own assessment of value.

 

NSW AFAIK you must put a set price, no range, no offers, nothing to have renter bid against each other, so I cannot see how it would go here & if you do use it, maybe the lease will be null and void.

I also think they should ban silent auctions that sales agents and vendors (often govt) partake in.

I have nothing against Auctioning anything , if it is advertised as such and done as per a normal auction and with clear rules.

PS tenants can already offer more if they want to secure a property, I believe.

 

I like it. But I'm not a renter. We bid at auctions... same same but different

 

I wonder what sort of tenant is going to bid the highest price for a lease, as opposed to the tenant that comes with sparkling credentials & references and wants $x off the listed price.

I have a personal view on which tenancy application kind of makes me feel more comfortable.

 

Not allowed to do bidding or have a range in SA

 

It's a bit like it already.
Who here rents?

This month has been the first time i'm attempting to rent in a desirable suburb in Sydney without contacts. I have offered up to $100 above advertised rent and still been turned down. Every open has about 40+ people show up.

It's insane. I'd actually say rents are too low in those area, even though people are offering about 50% of their incomes in rent.

 

I think offering more makes you look suspicious IMO. We moved Canberra (from our PPOR) to renting in Sydney with no contacts/rental references. I put in a bunch of applications and got three places offered to us just from two consecutive Saturdays of inspections and applying. We are in the inner eastern suburbs.

 

Sounds great. Can’t wait till there’s an app to bid on food, water, electricity and all other life necessities

 

I would not offer more, I would explain to REA my situation and say I may pay a little more if that would get the place for me.

 

Is that a recent thing in SA? We've had an agent use ranged there before.

 

As stated it's illegal in some cities and in others, not every suburb is in such high demand to warrant this. I don't see the idea taking off.

 

No, not really recent. Some do it.