Register as a user, its simple and free.
You can either log in and register using your existing Facebook or twitter account by clicking the links on the top right of the screen, or click on register as a Vendor under the Sell-Lease menu and complete the simple steps by filling in your details
Alternately ask your agent to register to list your property on bidRhino.com
Research your local area, or market, use the internet to search for the price of similar properties which will give you a price guide or ask your agent what they believe the price range is.
Once done, now you can set your starting price. Please note, with a rental auction the reserve price must be achieved with the first bid, so your auction start price must be 1 bid less than what your minimum acceptable weekly rental price is. The good thing is, the first bid means your property is leased, but if it is a great property, that a lot of tenants love, you may exceed your base price by a significant amount, and as its transparent everyone is happy.
With bidRhino.com there are several prices you need to be ready for, first there is your reserve price, this is the auction reserve, once set this is the price that you will lease your property for, and should be achieved on the first bid. This is notified to buyers as the buttons on your auction page turn from orange to green.
You also need to set your auction start price, this is the price the auction will start at. As above, this must be 1 bid below the reserve.
bidRhino.com also provides you the ability to do what we all dream, if someone offered me $x, I'd lease it now, so set your Rent it now price with this in mind. This is the weekly rent that you will simply say yes to, its a done deal. It may or may not be higher that your reserve price, but it is the price you will accept without question.
Every successful lease is a result of great planning and preparation. So, prepare your property ready to rent if you can (it may be subject to existing tenants accomadating this), and think of the potential tenant when you are preparing.
Complete all those little jobs you have been putting off and repair those little broken things. Tidy up the garden, maybe paint or touch up those older looking areas, clean the windows and so on, this should maximise the interest and your rent. Think of what you would look for when looking at a property to rent.
Once done, you're ready for photos, video, property description and floor plan, do it yourself or engage a professional, we offer 3rd party partners who do this for a living and will make your property stand out and look and sound its best.
If you are with an agent, they will have a standard lease agreement, talk to them about any special terms you have, or engage a lawyer to prepare your lease contract. This document is required to lease your property, and will be needed to post to bidRhino at least 3 days prior to your auction going live.
Now you are ready to go, you can list your property on bidRhino.com for an auction. It is a relatively simple process, and will take about 10 minutes.
Click on Post your property and it will take you to our Package page, select the Rental auction package, and rental concierge package and any options you would like to add... at bidRhino.com it is your choice.
You enter the property details, setup open for inspection times if you want them, pricing (reserve price, auction start price, and your rent it now price), upload photos, videos, legal documents, set your auction terms , start date and time, end date and time, and list the bond amount in your description.
A marketing campaign for property is to let people know your property is on the market.
A property campaign would traditionally run for 4 weeks, we would suggest that 3 weeks is the minimum you promote your property for, and it could run for up to 6 weeks, so from the date of your listing to the start date of your auction we would recommend 3-6 weeks.
We recommend that you use online marketing portals such as realestate.com.au and domain.com.au, we offer marketing packages to assist you do this, its your choice...
The more people you can inform your property is on the market the better your chances of a successful outcome. Making your property attractive to potential tenants is crucial to ensuring you attract tenants to bid on your property.
During the marketing campaign the idea is to engage potential tenants. Run open for inspections or book viewings by appointent.
bidRhino.com offers you the ability to engage potential buyers through your bidRhino.com account, with communication via email and or SMS connecting you with interested parties. By using scheduled open for inspections, or allowing buyers to book a time direct with you to view your property, answering email queries, you are engaging potential tenants.
An integral part of the bidRhino.com process is to give control to the Landlord (or Landlords agent). As such, all potential bidders must be enabled before they are allowed to bid.
A user finds a property they like, then registers to bid on that property, the registration includes completing a Rental application form, this is emailed to the landlord / agent and the Landlord (or their agent) is sent a message to let them know that a user has registered to bid. The landlord/agent then needs to confirm and authorise this bidder before they are able to bid, this is a simple tick box on the bidder list section of the property listing.
Approval of applicants does not change from the way it is done today, reference checks, suitability of the applying potential tenants.
This allows the landlord/agent to ensure they are aware of all bidders on their property.
Its time, your online auction starts…
We recommend an auction term of 4-7 days, but you can have anywhere from 1 to 30 day duration, it's your choice.
Please note that you must upload your lease 3 days prior to the start of your auction, to give potential tenants time to review these legal documents.
Let the auction run, bidders may send questions for you to respond to throughout the auction, and watch out for those late tenants registering to get in on the bidding after the auction has started...
Watch the bidding live on your phone or pc, get notifications of bids wherever you are, don't worry if there isn't much activity at the start, the process takes time and once it starts the excitement will build.
If a bid is placed in the last 5 minutes of an auction, the auction is automatically extended by 5 minutes, this will continue until there are not more bids.
Reach the reserve and the end of the auction, and LEASED...
The winning bidder is emailed the lease and then the transaction is just like normal, you swap signed contracts and the bond is provided.
With a rental property, the first bid is considered a winning bid and thus 1 bid will mean the property is leased.