Startups like Rentberry allow landlords to list their Boston luxury apartments so that would-be tenants can offer higher or lower prices, based on what they would be willing to pay. The sites take a percentage of the difference. Operators of these rental auction sites claim supply and demand already affect rent prices and that their services just make the process more transparent.
But this apartment rental auction website platform is off to a rough start, some cities like Seattle and perhaps even Boston are concerned rent bidding could make it harder for low-income residents to afford homes. Seattle will take the year to study whether bidding on rent violates city law and then reassess whether the companies can continue to operate in the city.