UK Rent Bidding Site idea

[Rohan Rastogi]

I have an idea about creating a site where tenants can bid directly on rentals so they then bid on the rent per month or something. There could be a "reserve" rental price where the landlord will only rent if reached.

And the tenants could all be background-checked and credit-checked etc.

Landlords could directly upload their properties and then they could be bid on.

Does such a site already exist in the UK? And would it be viable do you think?

I'm a landlord so I'm just curious.

 

[nmb]

That is a brilliant idea! Allowing the market to find its own level. Only hard part is getting enough traffic to ensure there is enough competition.

 

[Longterminvestor]

There are a number of sites doing this BUT the fact neither you nor I have heard of them suggests they have not managed to crack the mass market or they dont have the right set-up. Either way there may still be an opportunity for you to go ahead with your site.

 

[lookinginvest]

I think I have already seen a similar site but as the name does not spring to mind it cannot have been very memorable. Therefore, as we have seen many times in the past, perhaps 2nd to market might be the winner?

 

[realdeals]

Structured correctly this could be an extremely fruitful venture but, as mentioned above, the key would be bringing traffic to the website to ensure there is as much competition as possible for each property listed. If you could attract enough traffic then this would have the potential to be a self-fulfilling prophecy, landlords would be forced to consider listing their properties because potential tenants were there already.