Industry NewsRentals

Rentberry lets you auction your rental property

Going once, going twice... Rented – to the highest bidder
  • Rentberry lets the open market set the price of your rental based on demand.
  • The platform is free to property owners for listing.
  • Applicants need only pay $25 if their application is accepted by property owner.

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Today's rental application could use more transparency, according Alex Lubinsky, CEO of Rentberry. "In most of the cases, you go to the open house, you like the place, you submit the application and paperwork -- which is not up to the standards of the 21st century -- then, in a couple days, you find out you lost," he said. "You lost to a person who offered $50 more. 'Why didn't you call me and tell me they offered $50 more? I could offer $75 more!'" Rentberry is a platform for auctioning rental properties on the open market. Homeowners and property managers can list their properties, and potential tenants can bid on the residence. The winning bid is accepted and the tenant moves in. It's that simple. Lubinksy said his team's goal was develop a more efficient and transparent application process in a closed-loop system. How it works The Rentberry website meets both demands in the rental market: Homeowners and property management companies can list properties for free,...