Reply To: Rent bidding ban has backfired, say RE agents

As I said on this week’s podcast, the solution is simple.  the landlord has to fix the rent when they advertise the property.  They can go down but they can’t go up and this can be checked restrospectively (if need be) against the registered.  The landlord can then get what they think the property is worth and if they ask too much, lower the amount.  It would also avoid tenants “bidding” more than they can really afford just to get a foot in the door.