Rentberry – an online auction platform for rentals.
Rentberry, a Californian based startup company, aims to allow tenants to bid against each other for rental properties.
In essence, the app provides an online auction platform for renting property, allowing tenants to submit offers to landlords in order to secure a property. The app also allows tenants to see how much others are bidding and enables landlords to select the best offers.
“This creates a healthy rental environment in which all prospective tenants can evaluate competition and make educated offers. Such open assessment results in a fair and true market price for the property that benefits both the landlord and the tenant,” said Rentberry.
Rentberry claims that landlords will not always choose the tenant with the highest bid, instead many landlords use Rentberry’s credit check and referencing system to determine the most appropriate tenant for them. Good renters with excellent credit history will be able to negotiate a discount with a landlord.
Rentberry is expected to launch in Australia this year, coming first to Sydney, then Melbourne, are Brisbane not far behind.
Our intrinsic link to Australia’s rental market makes us question Rentberry’s ability to truly match suitable tenants to a landlord’s property and whether or not it will be able to take market share away from online real estate giants, Realestate.com.au and Domain.