|
1. How
much does RentBid cost?
2. How
do I know that if I’m the high bidder I’ll get the apartment?
3. Can I
bid on multiple apartments simultaneously?
4. Can I
remove my bid if I change my mind?
5. What
happens after I win an apartment?
6. What
do I do if I plan on having housemates? Can we bid together?
7. I
have already registered but I cannot access my account?
1: How much does RentBid cost?
You can search, attend open-houses, register, receive
newsletters, and even bid on apartments all for free. Also for a limited time
if you're the winning bidder there will be no brokerage fee!. That’s right!
Help us grow our users and we’ll figure out how to make money from our
revolutionary service later.
2: How do I know that if I’m the
high bidder I’ll get the apartment?
RentBid is a licensed brokerage. Every landlord that
lists with us is required to agree to sign an exclusive brokerage agreement.
Ultimately the owner has final say on who gets their unit, but listing with us
and then renting outside of our process is a violation of our brokerage
contract and thus illegal.
3: Can I bid on multiple
apartments simultaneously?
Unlike other auctions on RentBid you
can not be the winner of more than one auction. The reason is obvious: you can
not live in two places simultaneously. Thus you are prevented from having two
active bids simultaneously. If you are outbid you can certainly decide to start
bidding on anther unit.
4: Can I
remove my bid if I change my mind?
By registering and bidding on a unit
you are agreeing to our auction terms. One of the most significant is that you
can not remove a bid once it has been made. If we were to allow this practice
our auctions would be vulnerable to manipulation and unscrupulous behavior. If
you win an auction and decide you do not want the unit you have won you are
subject to a penalty.
5: What happens after I win an
apartment?
The winning bidder is emailed the contact information
for the property manager as well as the RentBid agent responsible for the unit.
You have until 12pm EST the following Wednesday to sign the lease, make your
security deposit, and pay the first month’s rent. If you fail to do this you
are subject to a $150 penalty and no longer eligible for the unit. Depending on
the reasons for your failure to fulfill the terms of your agreement, you may be
restricted from using our service.
6: What if I plan on having
housemates? Can we bid together?
Yes. RentBid supports registered
users forming what we call a bidding party. Your incomes will be combined and
thus make you eligible to bid on larger, more expensive units. One member of
the bidding party is designated the “exclusive bidder” and is responsible for
all bidding done by the bidding party. The other members are designated
“associated bidders” and can monitor the bidding but can not make bids
themselves. Each member of the bidding party is individually subject to the
terms of the user agreement.
7: I have already
registered but I cannot access my account?
|