1. What is Bidrento?
Rental property platform for fast and convenient tenant finding process administration. Bidrento brings the entire rental process online, starting from price negotiation, tenants ́ background check to generating rental agreement. Bidrento offers:
- The landlords opportunity to manage all potential tenants in one place, getting an overview of their background, and then make an informed choice.
- The tenants possibility to make rental price offers in the form of an auction or to apply through the online environment.
2. Listing types on Bidrento platform?
Bidrento has two types of property listings:
- Standard listing, i.e fixed/price listing, where tenants can apply through our platform or
- Auction type listings or price negotiation allowed.
For both types of listings, the tenant should complete the short questionnaire before making the offer or applying.
3. How to start using Bidrento platform if you are the Landlord?
- Register an account;
- Enter information about your rental property;
- Specify the type of listing: fixed price or price negotiation allowed
- Set the desired rental price;
- Set listing’s duration;
- View tenant’s price offers or applications;
- View tenant’s background information and default payments;
- You can take one free fact and default payment report regarding one tenant. All following reports are for additional fee;
- Choose the winner and contact with a chosen tenant;
- Generate rental agreement in one click.
4. How Bidrento works for the Landlords?
Using Bidrento as a landlord is very simple. Landlords can add their listings (apartment, room, house, commercial, garage) and determine whether the rent price is fixed or negotiated. In the case of a fixed price listing, tenants can apply through Bidrento platform and, if price negotiation is allowed, tenants can make their offers above or below the set price. For both types of advertisements, the landlords determines the end date of listing and the desired price. As a landlord you have the opportunity to view background information of all the potential tenants already during the period when your listing is active. Listing price includes one free fact and payment default report regarding one tenant. Additional reports are available for an extra charge. At the end of listing, choose a suitable tenant from among the applicants and contact him to enter into a lease agreement.
5. How to choose a winner i.e suitable tenant (for the Landlord)?
Check all the applications or offers from the potential tenants, and certainly check their background information. If the tenant offers a lower price than you set in your listing, you should definitely check his background and consider the income/risk ratio. Perhaps that tenant will fulfill all the criteria you expect from your new tenant. A suitable tenant should be selected within 48h after the end of your listing.
If for any reason you didn’t close the deal with the tenant you chose, then you can choose a new tenant from all other applicants. Please note that after the listing has ended, you have a total of 1 week to select the next tenant. This means that a suitable tenant have to be chosen within 1 week, of which the first tenant have to be selected within 48h after the end of the listing.
All tenants that weren’t selected as winners will automatically receive a relevant notification in one week after the end of the listing.
6. How much time do I have to choose a winner (as a Landlord)?
Once the listing has ended view all offers or applications and make your first choice within 48h. If you don’t make a decision during that time, then after 72h all applicants will receive an automatic notification that they weren’t selected as winners. This is necessary to ensure that both parties act swiftly and unsuitable applicants are informed quickly.
All in all, you have 1 week to choose a suitable tenant from the moment the listing ends but please note, that the first choice has to be made within 48h after the end of the listing. All tenants that weren’t selected as winners will automatically receive a relevant notification in one week after the end of the listing.
All details about the applicants will be visible for 1 month after the listing has ended or deactivated.
7. What should I do (as a Landlord), if the chosen tenant is no longer interested in my rental?
You have chosen a suitable tenant among all applicants, marked that tenant as a winner through Bidrento platform and made a contact to sign an agreement. However, the selected winner is no longer interested in your rental and doesn’t wish to signing an agreement. Now you can choose another winner among all other applicants or extend your listing. Please notify that after the listing has ended, you have total 1 week to choose a suitable tenant, of which the first tenant have to be selected within 48h after the end of the listing.
You can see the information of the applicants for one month after the end or deactivation of the listing.
8. What should I do If I found a suitable Tenant before the listing ends (as a Landlord)?
If you find a suitable tenant, you can choose the winner before the end date of your listing and through that deactivate your listing. After deactivating your listing, contact with the suitable tenant to sign an agreement. All other applicants will receive an automatic email that listing has been deactivated and they haven’t been selected.
9. When the listing has ended, who should make a contact?
When the listing has ended, the landlord chooses a suitable tenant among all applicants and make a contact.
10. How to find the best tenant (for the Landlord)?
To find a suitable tenant you should enter the most accurate information about your property. Be prepared to answer additional questions and to book meetings with potential tenants. When choosing a suitable tenant make sure you check their background information and don’t make a decision based only on offers. Think through your preferences for a new tenant. Whether your property is suitable for families with children or pets, how many people should there be in the household, do you tolerate smoking, what kind of lifestyle and hobbies your tenant should have etc.
11. How much does Bidrento cost?
Creating an account is absolutely free for all landlords and tenants, and takes only a few minutes. Please find standard price list for listings here (https://bidrento.ee/user-price-list). If you would like to make a business account please contact us.
12. How to start using Bidrento when you are a landlord and want to join as a company?
We have separate opportunities for companies. Price depends on the number of properties and advertisement placement on the website.
13. How to start using Bidrento as a Tenant?
- View properties on Bidrento platform;
- Choose a suitable property/properties, where you would like to move in or create an office space for your business;
- Fill in the questionnaire. We recommend to fill it thoroughly to distinguish yourself from other potential tenants;
- Apply or make your offer in order to become a new tenant of the property you are interested in;
- Contact the landlord if you would like to see the property;
- If you are selected, the landlord will soon contact you to sign a lease.
14. How does Bidrento work for a Tenant?
Using Bidrento as a tenant is very simple. After creating an account and filing additional information about yourself, you can start applying or offering. The main advantage of Bidrento platform for a tenant is the opportunity to make an offer below and above the set price (is applicable for the auction types of listings). Therefore you have to fill your profile thoroughly, because often the tenant’s background information plays an important role in tenant selection. If the landlord chooses you as a winner, he will contact you personally after the listing is ended. If tenant will be found earlier than the end of the listing, then please look question no 8.
15. Why can’t I make offers?
- Your profile is not filled. The Bidrento platform is based on simplicity, comfort and transparency. Therefore, all tenants who wish to apply or offer must fill in additional information about themselves. Note that the more detailed information you give about yourself, the better you stand out from all other potential tenants.
- The number of your active bids is full. You can participate in total 5 active auctions at a time.
- The listing you selected has ended or paused by the landlord.
16. I have made offers as a Tenant, what’s next?
As a tenant you can participate in 5 active auctions at the same time. You can keep an eye on your offers and active listings and raise your offer if you wish. The landlord can deactivate the listing if a suitable tenant is found earlier.
When the listing has ended, the landlord chooses a suitable tenant among all the applicants. If you are chosen as a winner, the landlord will contact you personally after the listing has ended. If you weren’t elected, you will receive a notification within one week after the listing has ended.
17. How can I win i.e become suitable Tenant?
As a tenant fill in as much detailed information about yourself as possible to stand out from all other potential tenants. When making an offer check current market price if needed and make sure your offer is in line with the market price for such properties. Be patient and keep an eye on your active offers to increase them if you wish.
18. How is the rental price negotiation organized on Bidrento platform?
Rental price negotiation on Bidrento platform is done in the form of an auction. The Landlord sets the desired price while listing his property. Tenants can make their price offers above or below the landlord’s set price. If the landlord doesn’t wish to choose any tenant among all applicants, he can either extend or deactivate his listing.
19. What is an automatic bidder?
Automatic bidding is convenient to use if you are not able to keep track of an interesting auction and update your bids - the system will do it for you! If you choose an automatic bid (hereinafter AB), the system will bid for you up to the maximum amount of your set price, i.e as soon as someone has exceeded your bid at the auction, the AB moves the minimum 5€ bid step forward.
If someone else also has an AB, the auction price (bid) will immediately rise to the amount where one AB exceeds the other. If the maximum amount of your AB is exceeded, you will receive a notification immediately.
20. What can I do if I forgot my password?
You can recover your password by clicking the “"Forgot Password?" link when signing in. Enter your email which your account is linked with and follow the instructions sent to your email.
21. How to change the communication language?
When you register an account, you can choose suitable communication language (Estonian, Russian, English). If you want to change the communication language later, go to “My account”, “My profile” and choose preferable language.
Didn’t find an answer for your question? Feel free to contact us!