Desperate tenants face having to bid against each other
to push the rent up in the latest sign of Britain's overheated property market.
A new website, Auctionlets.com, goes live this month, pitching potential
tenants directly against one another, while letting agents are turning to open
days and "sealed bids" to achieve record rent levels. Landlords are
busy signing up to auctionlets.com, which becomes fully operational later this
month and boasts, in its advertising, that "due to the competitive nature
of the bidding environment landlords can achieve the best possible price for
their property". Tenants are checked by the site when registering,
enabling landlords to be confident they will be able to pay the rent and
deposit. Read more on the Guardian website.
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