Under the government’s proposed laws, if someone decides to offer more on a rental, landlords and real estate agents would be legally required to notify everyone else who has applied.
This would kick off a rental auction - with other applicants able to bid more, and more, and more until the highest price was reached.
The government says this will end the “secrecy” - but what it will really do is make rent bidding the norm and push desperate renters to the brink of what they can afford, while locking out those who can’t afford it all together.
If you're a renter who is already struggling with the soaring cost of rent, we want to hear from you. What do you think of rent auctions and what action do you want on rent bidding?