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Fully Detached

Rentberry - bid against others to secure your rental

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Apologies if this is old news, I've never read anything about this before.

Rentberry is a site where a LL lists their rental property with a preferred price, and potential tenants have to bid against each other to secure it. The LL has full view of all bids and tenant info e.g. credit scores. My immediate reaction was one of disgust, although that's not really the point of my post. What interests me is that this is a very liquid barometer of the market, so it's likely to bring about price discovery and market movements quite quickly, both on the upside and the downside.

I think this is only US for now, but may not be long before we get a UK equivalent. Might be a few landlords watching the property equivalent of a forex spreadbet going against them in the not too distant future, with the added bonus that the underlying asset is distinctly illiquid.

That's a great way to find out what a bastard markets can be.

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1 minute ago, JFK said:

Jesus. It's akin to hunger games.

Mind you, mad gainz to be had, just raise the rentz innit

Until the price starts chasing down.  All,well and good if there is oversupply but if not..... 

pm me when it's time to,get the popcorn in 

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Get a caravan. 

It's so bad now, globally, I'd struggle to buy in Thailand! Glad I built four houses here years ago and have the farm, which is now pretty big. We grow our own veg and chickens. Still doesn't stop The Big Angry>:( spending 600 quid in Makro.

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7 hours ago, Parry said:

Get a caravan. 

It's so bad now, globally, I'd struggle to buy in Thailand! Glad I built four houses here years ago and have the farm, which is now pretty big. We grow our own veg and chickens. Still doesn't stop The Big Angry>:( spending 600 quid in Makro.

The wife's still about?

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On 01/04/2017 at 11:20, Fully Detached said:

My immediate reaction was one of disgust, although that's not really the point of my post. What interests me is that this is a very liquid barometer of the market, so it's likely to bring about price discovery and market movements quite quickly, both on the upside and the downside.

Sounds like a functioning market is a good thing. Rents can go down as well as up.

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10 minutes ago, davidg said:

Sounds like a functioning market is a good thing. Rents can go down as well as up.

I think so. Obviously it's shit for renters if they're watching their preferred rental escalate out of their price range right in front of their eyes. But the flip side of that the speed at which rents can drop and LLs can get burned. If the housing market turns like an oil tanker, the rental market is more like a speed boat. This thing will make it more like a jet ski.

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If they could steal the air, the water, and the food out of your mouth and sell them back to you at twice the price, they would. Scum.

If things ever got that bad in NI, I'd just get a caravan. I could live happy in a caravan. Thankfully my rent hasn't gone up in 7 years and, touch wood, it won't go up this year.

But I bloody hope they don't get word of this bidding idea in the UK.

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