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Dob in a rental auctioneer

By johnboy - 12 January 2009 36

The ABC brings word that the ACT Tenant’s Union is after your help.

    The ACT Tenants Union is urging people to report any real estate agents who initiate a rent auction for sought after properties.

Basically they’re at the data gathering stage with a view to pushing for new laws against rental auctions if problems are found.

If you have got a recent rental horror story share it in the comments below, but also send it through to the Tenant’s Union.

What’s Your opinion?


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36 Responses to
Dob in a rental auctioneer
123qwe 12:30 pm 12 Jan 09

Why is a rental auction such a bad thing? If the demand is there, the market will determine the best price, lack of accommodation or otherwise. There are no major gripes when it comes to purchasing a property, so why the tears.

If I had a property for rent, I would want the most for it. If people cant afford it they should lower their sights and re-assess the situation. No point pissing and moaning about it, harden up.

Aurelius 12:07 pm 12 Jan 09

The assumption with this story is that auctions are wrong, but I have to agree with Berlina. Surely everything else in the economy is based on supply and demand, and what the market will pay. Why should this be any different?

VYBerlinaV8_the_one_ 11:44 am 12 Jan 09

Fair point, but that’s the landlord’s risk to take if he/she chooses, I think. Also, I’d imagine there’d be a prequalifying process prior to bidding.

This is all starting to sound a bit expensive. Maybe it’d be easier just to shelve the idea…

H1NG0 11:35 am 12 Jan 09

It doesn’t matter what type of auction it is, the concern is that they are giving houses to the highest bidder, not necessarily the best applicant.

VYBerlinaV8_the_one_ 11:29 am 12 Jan 09

How would a transparent auction be taking advantage of people? I agree that a silent auction is probably a bit nasty, though.

H1NG0 11:07 am 12 Jan 09

I think the auctions are poor form because they are taking advantage of people desperate for accommodation. I think applications ahould be decided on the best applicant, not the best price.

VYBerlinaV8_the_one_ 10:54 am 12 Jan 09

Interesting topic.

I don’t think I’d have a problem with rental auctions if they were held in the same way as a purchase auction, where everyone hears all the bids and can choose to increase their bid, or not. That way, there’s no ‘secrets’, and the market will do what it does. The landlord also bears the risk of not meeting reserve, at which point they may choose to reduce the reserve.

peterh 10:47 am 12 Jan 09

ah, renting… last time i was in a rental property, there were 2 applicants for the house, very expensive, us and another couple. the agency gave it to us. The other couple wanted to know whether it was a skin thing, as they were ugandan. they were new to canberra, and we had an A1 rental record. the agent chose us, but I am certain that it was based on our offer to re-do the garden… which we did.

sometimes, an offer of a service other than money seems to clinch the deal… no auctioning needed.

johnboy 10:46 am 12 Jan 09

I should say that with the tenant’s union email still auto-responding that they’re on holidays this story might be a bit of an ABC beat-up.

Thumper 10:45 am 12 Jan 09

Ridiculous, not ‘red’

😉

Fiona 10:44 am 12 Jan 09

Oh that was http://www.philipkouvelisrealestate.com.au/ … which was good in not wanting higher bid,s but rediculuous in asking for a written personal reference …

H1NG0 10:32 am 12 Jan 09

Rental auctions are rediculous. When I got my place, demand was so high that a guy from defence offered to double the up front rent. Luckily LJ Hooker were good enough to look past that and process their applications properly

Fiona 10:31 am 12 Jan 09

We offered a higher price than they were asking at a place last time around, but it did us no good.

But our current place is better anyway.

TheScientist 10:29 am 12 Jan 09

this has happened when i’ve been looking for a house. no solid evidence though.

made one application and discussed it with an agent, and she said she felt it was unethical to accept such “bids.” i don’t think they all have such scruples though.

Kizzle 10:19 am 12 Jan 09

I’ll be looking to rent soon, not looking forward to it.

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