FAQ

About


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 with a starting auction price and Renters can search and bid on apartments. Brixbid takes care of the rest, including online lease execution.

Find, Love, Bid, Win.

     

How does Brixbid work?

Landlords and property managers list available units including amenities, photos and floorplans. Renters search our interactive database and filter listings to meet their search criteria.  After identifying their desired apartment(s), Renters are able to 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 is selected, the Brixbid platform facilitates tenant screening and lease execution, all online.

 

How long does the auction last?

An auction cycle can vary from 1 to 30 days depending on how long the Landlord would like 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 am a renter

     

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.

 

How can I edit and make changes to my profile?

Changes to your profile can be made by logging into your account and accessing the dashboard.

 

How do I find an apartment?

Brixbid does not require you create a profile to view listings. Found something you like? You will be prompted to create a profile to begin the bidding process.

Bidding

     

How are prices determined?

The Renter ultimately determines the price! Landlords will set an initial (minimum) rental rate for a unit, but through the bidding process,the Winning Renter determines the final monthly rent.

 

What happens next if I am selected as the “Highest Bidder”

Once selected as the “Highest Bidder”, the Renter will be notified and has 24 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, your deposit will be forfeited. 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.

 

What if I’m not the Highest Bidder, do I have a chance?

Yes! If, for example, 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 (which may be you).

 

Can I bid on multiple properties at the same time?

You are welcome to bid on as many properties as you would like. There is a $100 deposit to bid on each listing. If you are the Winning Renter of any one of these, your participation in the other auctions will be cancelled and your deposit for those returned.

 

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 cosigner 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.

 

My ideal listing requires excellent credit, and mine is only good; can I still bid?

Yes, you are welcome to bid on any apartment. Adding a guarantor or cosigner may help your bid to be accepted. Landlords are required to provide minimum credit requirements for each listing, and you may assess your chances of being accepted by referencing this.

 

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 24 hours to submit information for your credit and background check. If you choose not to proceed, you relinquish your $100 deposit.

 

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.

 

My pup is my world—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.

 

Is Brixbid free for renters?

Brixbid is a free service to renters, however a $100 deposit is required for each listing on which you choose to place a bid. This deposit is returned to you if you are not the Highest Bidder of the auction.

 

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.

 

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 standard information required for credit and background checks throughout the industry and is not unique to Brixbid.

 

Is my credit card information secure?

Yes, your information is safe with us. Brixbid does not share any personal information with external organizations.

 

What is “Rent Now”, and 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 will still be required to qualify through a tenant screening report.

    

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, takes places outside of the Brixbid platform directly with the Landlord.

 

Can I change my bid after it has been submitted?

You cannot lower your bid once it has been submitted, however, if someone subsequently places a higher bid, you may place another bid above that.

 

I did not 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 you will not be charged.

 

What is the cancellation policy?

To ensure a fair bidding process, Renters must submit a $100 deposit for each apartment bid placed. If you are not the Highest Bidder, your deposit is returned. If you are the Highest Bidder, and you decide not to pursue the unit, your deposit will be forfeited.

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 support@brixbid.com.

I am a landlord:


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.

 

How can I edit and make changes to my Landlord Profile?

Access your dashboard by signing into your 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 do I want to list on Brixbid?

Brixbid only makes money if you do by charging 25% of the premium you are able to achieve through our site. You keep 75% of any rental premium.  For example, if you post your unit at a minimum monthly rent of $1,000 and are able to rent it for $1,200 on a one-year lease, you keep the base rent ($1,000 per month times 12 months = $12,000 over the life of the lease) plus 75% of the annual difference ($200 per month times 12 months times 75% = $1,800).  You have made a premium of $1,800 over what you otherwise would have rented your unit for.

 

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.

 

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.

 

Can I deactivate my account?

We’d be sad to see you go, but you can deactivate your account by contacting us at support@brixbid.com.

Listings

     

Do I have to upload images to my listing?

Posting improves the desirability of your listing. Brixbid requires at least one image to be uploaded with each 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.

 

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 deposit is forfeited.

         

May 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.

 

Can I edit my listing once the auction has begun?

You may edit your listing until a qualified bid has been placed, after which time, you may no longer make changes to the listing.

 

How do I set up showings for my listing?

When you create your listing, you will 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.

 

What if I don’t want to or am unable to show the unit myself?

Through our “Brixshow” service, you may elect for us to conduct unit showings for you.

 

How am I notified of the auction results and what do I do?

When the auction closes, the Landlord is notified of the results. If the auction was successful, you will be prompted to move forward with a screening report of the Highest Bidder. The Renter then has 24 hours to submit for their screening report, at which time the results will be sent to you for approval. Once approved, Brixbid will send electronic leases for signature to both parties.

 

Automated through Brixbid, you will be alerted as soon as the winning bidder had passed the background and credit check. Brixbid will then initiate the lease signing process.

 

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 will 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 24 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 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 your listing by accessing your dashboard to view “Your listings” and clicking “Repost” (?) to repost your property.

 

How do I promote my leasing special?

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 are tenant profiles verified?

Highest Bidders are required to submit necessary information for a screening report, which will verify the information provided by the Renter.

 

Does Brixbid have a standard lease? How can I add an addendum?

Brixbid is not a party to any Residential Lease Agreement. Each Residential Lease Agreement is between Winning Renter and Landlord. However, 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 landlord dashboard and click on “Leasing” tab.

 

My listing hasn’t done well—am I doing something wrong?

Providing as much information as possible improves your listing. Here are some tips to make sure your listing performs at its best:

o Images: providing images of neat and tidy rooms as well as a variety of views improves your listing

o Description: well written descriptions with details about the property and the neighborhood paint a more detailed picture of what bidders can expect as tenants

o Price: ensure that the initial value is priced fairly based on the property and the neighborhood