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Rental bidding rules

Rental bidding: advertise a price, let at that price

If you advertise the property you must publish an asking rent.

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A ’to let’ board is the only exception.

A tabbed folder of documents stands on a desk under a warm lamp, with a mug of tea beside it.
A tabbed folder of documents stands on a desk under a warm lamp, with a mug of tea beside it.

An advert needs a price

If you advertise the property you must publish an asking rent.

Read the detail

A ’to let’ board is the only exception.

No bids, even unprompted ones

You cannot encourage people to offer more, and you cannot accept an offer above the advertised rent.

Agents are bound too

The rule applies to anyone letting on your behalf.

Price the advert

Set the rent you want, not a starting point.

Keep the advert and its price on file

If an applicant or council asks, you can show the rent you advertised on the day.

Let at the advertised rent

Choose between applicants on referencing, not on who offers more.

Where it sits

Rules summarised from the government’s Renters’ Rights Act overview for landlords (https://www.gov.uk/guidance/renters-rights-act-an-overview-for-landlords), published 1 May 2026. This is not legal advice; where a tenancy is unusual, take advice.

LetBuddy’s listings carry the asking rent you set, and applications and referencing sit under the listing. Where you advertise beyond LetBuddy’s own listing page is yours to keep consistent.

Common questions

Can I accept a higher offer if the tenant volunteers it?

No. You cannot accept offers above the advertised rent, whoever suggests them.

Do I need a price on a ’to let’ sign?

No, ’to let’ signs are excluded. Other adverts need an asking price.

Can I lower the rent for a preferred tenant?

The rule stops rent going above the advertised figure; check any offer below it against your own affordability and referencing.

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