Two new property rental apps, which will effectively allow prospective tenants to ‘bid’ how much rent they’re willing to spend against other offers, are set to hit the Aussie housing market. We know, we didn’t think renting was competitive enough, either.
Domain reports that apps Live Offer and RentWolf – yes, just like the fanged predator! – are both aiming to bring shake up the traditional rental application system, by allowing renters and landlords the ability to more clearly define their preferences.
While both the U.S.-based Live Offer and homegrown RentWolf claim their systems will allow rental applications to become more transparent, both will include the rent-specifying functionality.
Hypothetically, once you find a property you’re dead keen on via a listing site, you’ll be able to contact the landlord via one of those apps. At that point, you’ll be able to declare when you’re willing to move in, and your preferred lease duration, that kind of deal.
That’s cool, but you’ll also be able to list how much dosh you’re willing to spend, enabling prospective tenants to bid above the original asking price. While doing so isn’t a new idea by any stretch of the
wallet imagination, chucking that functionality into an app seems liable to make would-be tenants even more competitive, thereby driving prices further up.
This news comes after Rentberry announced its imminent arrival on the Aussie scene. At the time, Tenants Union of Victoria policy officer Yaelle Caspi said “with so many tenants desperate for a home, it is likely that tenants will offer more than they can afford in an attempt to get ahead.”
Yep, just what we all needed: direct competition with other people in need of a roof over their heads.
Photo: Brandon Thorne / Getty.