The main deal: Imagine a website, where tenants can bid against each other to get the better flat/house? Or tenant can overcome somehow his bad credit/background report with plus 200$ bid?
Surfed about this start-up on the web and opinions are strongly different. Someone call it unfair, someone - innovative. What do you think? Can it provide better competition and as an outcome - better service from landlords? Let's discuss
Investor · New Orleans, LA · Member since 2014 · 1k+ posts · 944 votes
9y
Huh! What a fascinating idea. I haven't heard of it. I could see this being a great idea for landlords in very high demand rental markets, like SF or NYC. I suppose it might be okay in softer markets. Though I would see it more as a way of vetting potential tenants and not so much an "auction" situation.
Rental Property Investor · Marion, IA · Member since 2016 · 150 posts · 74 votes
9y
Wow. That's an interesting idea. While I like the idea of a free market competition, this leaves me questioning the vetting process.
As Rentberry says in their pitch to landlords: "We strive to maximise your rental price by allowing tenants to submit custom offers and compete in the bidding process."
The article says that tenants can even overcome a bad credit score by increasing their rent offer. Hmmm... I've never accepted someone with poor credit by enforcing a higher rent. That seems kind of counter intuitive. But, maybe that's just me.
So, until I see something like this play out a bit in the market, I'd pass!
Another media to advertise a rental online. thank you.
Looks like they only charge $25 to the applicants. It looks like it might be free to landlords.
It's a free market. Tenants can choose where they want to rent from, and landlords can choose (within legal reasons and non discriminatory, of course) who to rent to. But this would probably help in areas with very limited rental inventory.
Investor · New Orleans, LA · Member since 2014 · 1k+ posts · 944 votes
9y
Huh! What a fascinating idea. I haven't heard of it. I could see this being a great idea for landlords in very high demand rental markets, like SF or NYC. I suppose it might be okay in softer markets. Though I would see it more as a way of vetting potential tenants and not so much an "auction" situation.
New York, NY · Member since 2017 · 19 posts · 8 votes
9y
@Jennifer T. My step sister rents a house in NYC, Cony Island. Still everything ok, as she says. Yeah, you right she paid 25$ after the agreement. I will try to use like landlords, now in search.