website : https://rentberry.cryptonomos.com/
Some people were perturbed when Rentberry — a website that runs rental auctions — launched last year.
In fact, in an article its own boss highlights, one tenant rights lawyer described the site as “callous”.
“We made a huge splash,” chief executive Alex Lubinsky recalls.
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.
“People say we create competition, but competition already exists,” he adds, arguing that “only the market” can suggest what is a fair price for a property.
In New York, for example, around 4,000 properties are listed on the site — and in such a “hot market” they tend to be let on Rentberry within four or five days, says Mr Lubinsky.
What is the market like?
At the moment, the price of rental properties in many parts of the US is going up.
Mortgage rates are also up — so more people who would like to buy a house are having to rent instead, which further increases demand, explains Adam DeScantis at the National Association of Realtors.
“First-time buyers made up 32% of buyers in February, historically that should be closer to 40%,” he says.
More than a third of US households are renters — nearly 110 million people.
The rise in renters has also followed millions of foreclosures thanks to the financial crisis, points out Jonathan Spader at the Harvard Graduate School of Design.
“Rent increases in many cities in the US have outpaced incomes, making affordability a challenge,” he explains.
Rentberry has faced criticism from some who feel it is likely to push up prices — only those with the biggest budgets will fare well when bidding, they say.
In response, Mr Lubinsky says that, on average, agreed rents were 5% less than the landlord’s asking price on the platform. But how does that compare with what the rest of the market is doing?
“We compared the data on the rental platforms in US for the largest cities (including New York and Miami) and at this moment the final rental price on Rentberry is 4.3% lower than on other sites,” he adds.
Mr Lubinsky also points out that the site requires bidders to submit personal information such as their social security number in order to take part in an auction — an effort to stop people trying to drive up the cost with false bids.
“People who actually submit offers are dead serious about getting the place,” he says.
That might not be enough to satisfy some of the more traditional property managers, suggests New York estate agent Douglas Wagner at Bond New York.
“Sometimes they want to meet and interview a tenant personally before they offer a lease,” he explains.
UK-based property expert Kate Faulkner also points out that not everything can be decided on data alone.
In general, prospective tenants and landlords need to meet, she argues, and get “reassurance that they are going to be able to help each other over time”.
Mr Wagner explains, though, that at the moment the rental market is hotting up in New York so believes that perhaps some landlords will be tempted by a new approach.
“They may want to buy in and test it,” he suggests.
“But I also anticipate that the more traditional, older generation management companies might resist because they’re so accustomed to the way they do things.”
Rentberry is a unique, transparent and one of the best rental service provider. Rentberry provides home rental service. This service also provides a platform between tenants and landlords where they can also negotiate on the price. Rentberry done all the main rentalservice tasks automatically from credit reports, submitting personal info, and also custom offers.
Rentberry is the best rental service provider. Rentberry is doing such a great work by uniting both tenants and the land lords and it is a long lasting rental platform and it also helps tenants to save their time as well as their money.
https://rentberry.cryptonomos.com/
More about rentberry :
Proven tack record :
Rentberry has proved itself in the rental service provider business and established a successful business and is also growing day by day. Today rentberry110K users using rentberry services and it has 180k properties.
Successfully Raised $4M
With the help of funds coming from 11 countries and also the high profile investors have successfully allowed rentberry to raise their funds up to $4M. Due to this, this company has such a great impact among tenants and the landlords.
2 in 1 Fundraising
Almost 15 percent of the proceeds will be used by the rentberry to buy short term rental properties in all the world.
Crowdsourced Approach
one of the prior objective of the rentberry is that it helps tenants to save billions, permitting rentberry community members to insure the tenants receive the bonuses and awards.
Enormous Potential: More than 2 billion people are currently living in long term rentals and by 2030, 59% of the new house hold will be formed.
Rentberry provides a great platform for both tenants and landlords.
For Tenants:
Online rent pay:
Now paying rent is not a headache anymore, using rentberry you can pay your rent online and in no time you can do it.
Apply for your future home:
You can apply for your future home and once open house is attended you just need to fill the outline of personal relationship.
Request maintenance service:
Rentberry provides you the service of maintenance. It is not a headache now, you can easily request for your maintenance service.
For land lords:
Add property:
Rentberry allows you to add property, if your property is awesome and has a beautiful view then it is time for you to shine.
Collect rent online:
You can collect rent online now, it is not now a difficult task. their is no need of paper checks now.
Screen Tenants:
Rentberry provides you the simple and Screened tenants. The applications are checked thoroughly i.e: tenants background and criminal record is also checked.
Rentberry is providing many great services for both tenants and the landlords. Landlords are finding easy to get good and simple tenants for their property and tenants are getting beautiful properties in less money. It is one of the best rental service provider company.
https://rentberry.com/
The link to the website where you can use the service of Rentberry and it really amuses both the tenants and the landlords in a nice and positive way. And rentberry business is growing day by day and it helps both the tenants and the landlords.
Get in touch with us:
Token sale: https://ico.rentberry.com
Chat with the team: https://t.me/rentberry
FB: https://www.facebook.com/RentberryInc
Twitter: https://twitter.com/rentberry_
Author :
My Bitcointalk username: rezqiano
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