The best way to win a bidding war is to have the highest asking price.
If you are bidding against a single man, he will be able to convince his wife or in-laws to bid with him. You will then have to beat them both and their combined bids.
If you are bidding against two husbands, they can work together and convince their wives. You will then have to beat them both and their combined bids.
If you are bidding against three husbands, they can work together and convince their wives to not bid at all. This is where it gets tricky because if they want a place that badly they may just go out of their way to find one for free (or below market rent) so that they don’t have to compete with you in a bidding war.
Sure guaranteed steps to win a renting bidding war
1. Negotiate the rent.
2. Secure a professional tenant handbook, including liability insurance and maintenance agreement details.
3. Negotiate the condition of the property, including any necessary repairs to be made or property maintenance issues that need attention.
4. Propose a competitive rent for your tenants and make sure it’s higher than what other tenants are paying for similar properties in the area!
5. Sign a lease with your new tenants as soon as possible; this will give you time to find them a reliable home maintenance contractor so that they can begin living there right away.
6. Be persistent and persistent again