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Putting in an 'offer' on rental property....
peachyprice
Posts: 22,346 Forumite
......is this normal nowdays?
My son is currently looking for a property to rent in a particular area, all the letting agents have an 'offer' system where perspective tenants are expected to put in an offer over and above the advertised rent with the property going to the highest 'bidder'.
This is the first time I've come across such a thing, is this they way it's done in lots of areas now?
I did wonder whether he was inadvertently buying the place!
My son is currently looking for a property to rent in a particular area, all the letting agents have an 'offer' system where perspective tenants are expected to put in an offer over and above the advertised rent with the property going to the highest 'bidder'.
This is the first time I've come across such a thing, is this they way it's done in lots of areas now?
I did wonder whether he was inadvertently buying the place!
Accept your past without regret, handle your present with confidence and face your future without fear
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Comments
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Sounds stressful. I think I'd rather stick with the traditional view a property and pay the asking price method.
You could forever be disappointed with a bidding system.0 -
I've heard of such systems but I wouldn't engage with any letting agent using this tactic. Pure greed.0
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I've heard of such systems but I wouldn't engage with any letting agent using this tactic. Pure greed.
Unfortunately they all do it in the area he wants to live.
All the viewings seem to be group viewings too. And yes, it is very stressful and make the whole process long-winded, it's 2-3 weeks between 'putting in an offer' and finding out it went to someone else.
I didn't think it was normal.Accept your past without regret, handle your present with confidence and face your future without fear0
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