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RentWolf, Live Offer, Rentberry: Rent bidding apps enable tenants to offer even more income to Lords; Tenants are going extreme measures to make ends meet against a backdrop of rising rents
Topic Started: 27 Apr 2017, 10:48 AM (3,167 Views)
Rat
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Filthy Rodent

Great news for Australian property investors as new rental bidding apps encourage renters to hand over even more of their hard-earned income to their Lords...

https://www.domain.com.au/news/more-rent-bidding-apps-to-launch-in-australia-as-rental-revolution-looms-20170427-gvslpc/

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More ‘rent bidding’ apps to launch in Australia as rental revolution looms

Online rental marketplaces – where would-be tenants go head to head with offers for properties – are becoming an inevitable reality for Australian renters, with the upcoming launch of two Aussie-specific apps.

Live Offer, by US-based real estate tech company Property Connect, and Australian start-up RentWolf will both roll out platforms in coming months in Australia.

It follows an announcement by controversial US rent-bidding start-up Rentberry that it will launch in Australia this year, with tenant unions slamming the idea as an exercise in rent inflation.

Australia’s two largest rental markets, Sydney and Melbourne, are already competitive and expensive, with Domain Group data showing Sydney’s median asking house rent increased $25 a week to $550 in the 12 months to March, while Melbourne’s median weekly house rents rose $20 to $420. A recent study showed tenants in both cities are going extreme measures to make ends meet against a backdrop of rising rents, including pawning items or going without meals.

There were concerns such apps encouraged renters to pay more than the market rate for rental properties, Ms Parrella said, which could end up putting renting out of reach for many tenants.

Mr Manson said rent bidding had been happening for a long long time all over the world. “But it’s being done in a very non-transparent way. What we’re trying to do is bring it above table and provide all the information to all those involved.”
Edited by Rat, 27 Apr 2017, 10:48 AM.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Tick Tock
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Negative gearing has ruined this country.
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This is depressing news for me. It's already the case that you have to compete with people offering an extra $100 a week...
:mad:
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Simon_S
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Lukey01
27 Apr 2017, 10:51 AM
Negative gearing has ruined this country.
Don't worry the Structural Deficit will fix that very soon.

Have some Fun........Pick up that App and start Low Balling all these Rentals...........
Rat
27 Apr 2017, 10:48 AM
Great news for Australian property investors as new rental bidding apps encourage renters to hand over even more of their hard-earned income to their Lords...


From Renter to Land Lord to Bank Lord to Investor Lord........

Ahh.........the Circle of Life.....

Where are you in the Equation again Ratsack.........
Edited by Simon_S, 27 Apr 2017, 06:23 PM.
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rusty
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Rat
27 Apr 2017, 10:48 AM
Great news for Australian property investors as new rental bidding apps encourage renters to hand over even more of their hard-earned income to their Lords...

https://www.domain.com.au/news/more-rent-bidding-apps-to-launch-in-australia-as-rental-revolution-looms-20170427-gvslpc/

sure, you can treat your tenants like scum and they will return the treatment in spades.
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Chris
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Rat
27 Apr 2017, 10:48 AM
Great news for Australian property investors as new rental bidding apps encourage renters to hand over even more of their hard-earned income to their Lords...

https://www.domain.com.au/news/more-rent-bidding-apps-to-launch-in-australia-as-rental-revolution-looms-20170427-gvslpc/

Yes, Lord Farkwod.

It will make them hand over more than they earn, it's the magic pudding after all.
Edited by Chris, 27 Apr 2017, 08:57 PM.
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Rat
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Chris
27 Apr 2017, 08:51 PM
Yes, Lord Farkwod.

It will make them hand over more than they earn, it's the magic pudding after all.
Probably not more than they earn, but it could force them to cut back on some of the little luxuries in a renter's life - booze, ciggies, pokies etc.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Simon_S
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Rat
27 Apr 2017, 10:06 PM
Probably not more than they earn, but it could force them to cut back on some of the little luxuries in a renter's life - booze, ciggies, pokies etc.
You mean discretionary spending........

Less spending is just what the Economy needs.......
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Rat
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Simon_S
27 Apr 2017, 10:08 PM
Less spending is just what the Economy needs
If you say so.
Consumer protection laws extended to small businesses. Banks not permitted to repossess due to non-monetary defaults (for example, a fall in the property value).
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Simon_S
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Rat
27 Apr 2017, 10:16 PM
If you say so.
That seems to be your Answer when you're stuck and look stupid......

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