Face of Renting a House Privately
Let us see some of the changes that have taken place and some that will take place soon:
Rent AuctionsThis is a new concept where the prospective tenants bid for the rental of the home. The thought behind this concept is that the worth of a property varies for different tenants. For instance, a tenant may be ready to pay a higher rent for a home because it may be close to children’s school, etc.
The process entails:
- Landlord setting a rental
- Pre-screening the tenants
- Inviting the selected tenants for the auction
- The traditional concept had the landlords or their agents estimating the rental for the home.