Brixbid Frequently Asked Questions (FAQs)
The Online Apartment Bidding Platform
What is Brixbid?
Brixbid is an online apartment rental engine that lets the market determine the price through our proprietary auction platform. Landlords can post available units and select a starting auction price. Renters can search and bid on apartments.
Our mission is to empower renters while giving landlords more visibility on their properties. In the end, everyone wins when they search, bid, and secure their new Chicago apartment on Brixbid.
How does Brixbid’s online rental auction platform work?
Landlords and property managers list available units, including amenities, photos, and floorplans. They can set a minimum price for rent that they’ll accept along with a maximum or “Rent Now” price. (This is similar to eBay’s “Buy Now” on auctions.)
Meanwhile, renters can search our interactive database and filter listings to meet their search criteria. After identifying their desired apartment(s) in Chicago, Renters can bid on the unit at or above a minimum rent specified by the Landlord. Our scheduling feature coordinates apartment tours if desired. Once a bid wins, the Brixbid platform facilitates a tenant screening and lease execution. This is all done conveniently online.
How long does the auction last?
A rental auction cycle can vary from 1 to 30 days depending on how long the Landlord needs to make the unit available. During this time, Renters can bid on the apartment.
If the Renter strongly desires a particular apartment, they have an option to end the auction by agreeing to a Landlord-specified rental price through our “Rent Now” feature.
I’m a Prospective Renter
Find answers to your most pressing questions about searching for properties, bidding for your dream home, and winning rental auctions with Brixbid.
How do I create an account?
Welcome to Brixbid! Signing up is easy and can be done through the “Sign Up” button at the top and bottom of each web page. Simply follow the instructions to set up your account.
How can I edit and make changes to my profile?
Changes to your renter’s profile can be made by logging into your Brixbid account and accessing the dashboard.
Is Brixbid free for renters?
Brixbid is a free service to renters in Chicago. However, a $100 deposit is required for each listing that you choose to bid on. This deposit will be returned to you if you are not the Highest Bidder of the auction and you follow through with the terms of the auction upon winning.
(Deposit is only kept if a renter bids on an auction, wins and fails to complete an application or execute a lease)
Finding Chicago Properties
How do I find an apartment?
Brixbid does not require you to create a profile to view listings. Found something you like? You’ll be prompted to create a profile to begin the bidding process. And from there, you can start saving money on rent in Chicago.
How can I see if a listing is pet-friendly?
Find out if a listing is pet-friendly by looking at the amenities list in the post. You can also view pet-friendly properties in your search by selecting this filter option. When selected, you’ll only see the pet-friendly listings in Chicago.
Something doesn’t seem right about a listing, whom do I contact?
Brixbid takes extra care to make sure all listings are accurate and verified. If something seems suspicious, send us an email at firstname.lastname@example.org.
Bidding for Rent Online
How are rental prices determined?
The Renter ultimately determines the price! Landlords set an initial (minimum) rental rate for a unit. But through the bidding process, the Winning Renter determines the final monthly rent.
Can I bid on multiple properties at the same time?
You’re welcome to bid on as many properties as you would like, but there is a $100 deposit to bid on each Chicago listing. If a renter wins multiple auctions, the $100 deposit will be forfeited for any of the properties that the renter fails to follow through with. Please see Brixbid’s Auction rules for full details here.
What personal information do I need to share if I’d like to bid on an apartment?
To begin bidding, Brixbid asks you to provide your name, email, and credit card information (for the deposit). If you are the Highest Bidder, Brixbid will prompt you for additional information for the credit and background checks.
Is my credit card information secure?
Yes. Your information is safe with us. Brixbid does not share any personal information with external organizations.
My ideal listing requires excellent credit. Mine is only good. Can I still bid?
Yes. You’re welcome to bid on any apartment. Adding a guarantor or co-signer may help get your bid accepted. Landlords are required to provide minimum credit requirements for each listing. And you may assess your chances of being accepted by reviewing this.
You may also reach out to the landlord for specific credit requirements through the “Contact Property” in each listing.
A listing that I am interested in is slightly above my budget, can I still place a bid?
Some landlords allow renters to submit bids for below the auction’s Starting Bid price, but these bids are subject to landlord approval. To find out if you can offer a lower rent, click “Place Bid” on the property listing page and look for the icon
Can I change my bid after it has been submitted?
You cannot lower your bid once it has been submitted. However, if someone else places a higher bid on the monthly rent, you may place another bid above that.
What is “Rent Now”? How does it work?
“Rent Now” is an option that allows a Renter to end an auction by agreeing to a rental rate set by the Landlord that is higher than the Minimum Bid. If a Renter chooses to exercise this option, they’ll still need to be qualified through a tenant screening report.
What happens next if I’m the “Highest Bidder”?
Once selected as the “Highest Bidder”, the Renter will be notified and has 48 hours to complete a resident profile so the Landlord can do a full resident screening. If you, as Highest Bidder (or your co-lessee/Guarantor where applicable), do not respond within this period, you will forfeit your deposit.
Once your bid is accepted and all required Renter information has been received, a tenant screening report will be generated and provided to the Landlord for review. If the Renter is rejected based on this report, the deposit will be returned.
I won the auction. How do I pay my monthly rent?
Once a Winning Renter is selected and the online lease has been executed, transactions between the Renter and Landlord (including payment of rent) take place outside of the Brixbid platform directly with the Landlord.
What if I’m not the Highest Bidder? Do I have a chance?
Yes! For example, if the Highest Bidder is not accepted by the Landlord based on the screening report, they have the opportunity to offer the listing to the next highest bidder. (And that could be you.)
I didn’t win the auction. Will I be charged a fee?
There is no cost to you if you do not win the auction. The $100 deposit made through your credit card will be released, and no charge will go through to your card.
I changed my mind and no longer want the apartment. What should I do?
If you are the Highest Bidder for any auction, you have 48 hours to submit information for your credit and background check. If you choose not to proceed, you lose your $100 deposit.
What is Brixbid’s cancellation policy?
To ensure a fair bidding process, Renters must submit a $100 deposit for each apartment bid placed. per the terms of the auction. If you are not the Highest Bidder, your deposit will be returned within 7 days. Brixbid only keeps deposits if a renter wins an auction and fails to complete an application or execute a lease.
Rental Background Checks
Can I use a guarantor?
Yes. Brixbid provides the functionality for you to include a guarantor to improve your profile and bid. Please note, a guarantor or co-signer may be required for those who have low credit scores. Landlords provide a minimum credit requirement as part of any listing.
If you believe you do not meet this minimum threshold for any listing, you are encouraged to include a guarantor to improve your chances.
Can more than one person be on the lease?
Absolutely. Adding a co-lessee and/or a guarantor can strengthen your bid.
Please keep in mind that any co-lessee and/or guarantor will also be required to submit the necessary information to run a screening report if you become the Highest Bidder.
The screening report requires my social security number and address. Why do I need to share this?
Your social security number and address are required by reporting agencies to run a screening report. This is the standard information required for credit and background checks throughout the industry and is not unique to Brixbid.
I’m a Prospective Landlord
Get help creating listings, running your auction, approving tenants, and sending leases online here.
How do I create an account?
Welcome to Brixbid! Signing up is easy and can be done through the “sign up” button at the top and bottom of each web page.
If you are a larger landlord and want to post multiple listings, you can also contact a Brixbid representative at email@example.com to complete the onboarding process for you.
How can I edit and make changes to my Landlord Profile?
Access your dashboard by signing into your Brixbid account. Once you’re signed in, changes to your account can be made through “my profile”.
How much does it cost to list my apartment?
There is no cost to list your apartment. Post one. Post many! We want you to meet the right tenant for your property.
Why should I list my Chicago property on Brixbid?
There is no downside to listing properties on Brixbid! Marketing available properties is completely free to landlords.
Landlords are only charged a fee if they choose to use a licensed Brixbid agent to facilitate property showings. This option is available at $75 per showing, but landlords are not required to participate.
Can I deactivate my account?
We’d be sad to see you go. But, you can deactivate your account by contacting us at firstname.lastname@example.org.
Chicago Listing Questions
What if I am a large landlord with multiple properties for rent? Do I have to list each property individually?
Brixbid connects with property management software like Rent Café and YouGotListings. If you are a landlord using one of these services it is easy to upload your entire portfolio of properties all at once when you create a Landlord Profile. Please contact email@example.com with any additional questions regarding Brixbid’s compatibility with existing property management software.
Do I have to upload images to my listing?
Posting images improves the desirability of your listing. Brixbid requires at least one image to be uploaded with each listing.
How do I determine the right price to list my apartment?
Determining market value is important to attracting the right tenant to your apartment. View and compare your listing to others listed on Brixbid to see what is available in the rental market right now.
Can I post multiple listings in the same building?
You may post listings for each individual unit in a building. However, you may not post multiple listings for the same unit.
How do I promote my listing?
Once your listing is complete, you will be given a unique web address (URL) which can be used on other platforms to promote your listing.
How do I set up showings for my listing?
When you create your listing, you’ll be prompted to provide times during the Auction Period when the unit is available to be shown to a potential Renter. If a Renter wishes to see the unit during one of these times, you will receive a message confirming your availability.
Don’t have time to facilitate showings yourself? Let a licensed Brixbid agent do it for you for $75 per showing. This option is available to landlords when posting an available apartment.
What if I don’t want to show the unit (or am unable to) myself?
Through Brixbid, you may elect for us to conduct unit showings for you. All Brixbid Agents are licensed Real Estate professionals.
Brixbid only charges landlords $75 per showing rather than the traditional one month’s rent commission.
Can I edit my listing once the auction has begun?
You may edit your listing until a qualified bid has been placed. After that time, you may no longer make changes to the listing
Can I cancel a listing before the auction ends?
You can elect to terminate the auction on a listing you’ve posted until that listing has received a qualified bid. If you choose to cancel the listing after it has received a qualified bid, your deposit will be forfeited.
How am I notified of the auction results? What do I do?
When the auction closes, the Landlord will be notified of the results. If the auction was successful, you’ll be prompted to move forward with a screening report of the Highest Bidder.
The Renter then has 48 hours to submit their screening report. At that time, the results will be sent to you for approval. Once approved, Brixbid can send electronic leases for signature to both parties or you may elect to use your own lease.
Because the rental process is automated through Brixbid, you’ll receive an alert as soon as the winning bidder has passed the background and credit check.
My listing hasn’t done well. Am I doing something wrong?
Try improving your listing by providing as much information as possible. Here are some tips to make sure your listing performs at its best:
- Images: Provide images of neat and tidy rooms as well as a variety of views to improve your listing.
- Description: Well-written descriptions with details about the property and the neighborhood paint a detailed picture of what bidders can expect as tenants.
- Price: Ensure that the initial value is priced fairly based on the property and the neighborhood.
How do I renew my listing?
Renewing your listing is easy. In the case that you do not receive bids on your listing, you can easily repost it by accessing your Landlord Dashboard. To renew any expired or archived listings, you simply click “Edit” on the listing itself and confirm that information is still correct before renewing the auction.
What Happens After the Rental Auction
Does Brixbid allow for a guarantor/co-signer?
Yes. Brixbid provides the functionality for a Renter to apply with a co-signer if they feel their credit may be below the Landlord’s minimum threshold.
What if my renter doesn’t pass the credit/background check?
If the first Highest Bidder does not pass the credit or background checks, you’ll be given the option to offer the apartment to the next highest bidder.
What happens if the Highest Bidder decides they no longer want the apartment?
After the Highest Bidder is accepted by the Landlord, they have 48 hours to submit for their screening report. If the Highest Bidder does not submit this information or informs Brixbid they no longer want the property, the Landlord will be alerted and offered the opportunity to accept the bid of the second highest bidder.
How are tenant profiles verified?
Highest Bidders are required to submit necessary information for a screening report. This helps verify the information provided by the Renter.
Is there a penalty for not moving forward with a qualified Renter once the auction has ended?
If the auction has ended and the Landlord fails to accept a bid above the Minimum Bid Amount that has been submitted by a qualified Renter, then the Landlord will forfeit their deposit.
Does Brixbid have a standard lease? How can I add an addendum?
Brixbid provides a standard Chicago Apartment Lease Form. Before publishing any listing, Landlords can review the standard lease and upload lease riders in PDF format. Any riders will be added to the end of the lease. To review the standard lease provided or add a rider, go to the landlord dashboard and click on “Leasing” tab.