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EssKay

Rentberry - Maximise your people farming income

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Haven't seen a thread about Rentberry on here (mods feel free to merge if there is).

 

Quote

The site allows landlords to set a preferred rent. Prospective tenants then bid below that figure to see if they can get a good deal. 

During the process, landlords see not only the bids, but information about the would-be tenants - including their credit score

There are now about 100,000 properties and more than 50,000 users on the site, which is also expanding to offer listings across the whole of the United States.

Mr Lubinsky insists that the system is fair.

He argues, for instance, that it is better than going into a closed or partially closed bidding system where tenants do not know the full details of what others may be offering.

And he reveals a new feature: in the coming weeks Rentberry will implement a machine learning system that will analyse local rental market data to help landlords set reasonable prices.

It will also try to rate prospective tenants for landlords based on information that Rentberry has about them, such as how many years they have been working

 

Full article here

 

So it's being spun as a tool to allow tenants to get a good deal, but is clearly intended to allow landlords to achieve peak rental income, whilst also invading the privacy of their tenants.

 

How long before it arrives here?

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Perhaps landlords could be asked to state whether the property is mortgaged, demonstrate that they will still be solvent as S24 becomes operative and provide contact details of previous tenants to attest to promptness of repairs, removal of underpants etc.....

 

 

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Had a look. This is completely free to landlords (obviously to get business off the ground). The only fee mentioned is a $25 success fee, paid by the tenant. 

Land monopoly is amazing. 

All efficiency savings produced by technology simply reduce the cost of finding tenants and put margin in the landlords' pockets. 

Traditional letting agents who don't keep up with technology progress are facked. 

Can't see it raising rents much. You could even argue that it gives more power to tenants by reducing the cost of moving compared to using a traditional US letting agent. 

But it boosts yields for landlords so should keep the bubble going a while longer. 

 

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