The preview event for the launch of a new rental auction site is receiving strong interest from letting agents.

LetsBid4Lets says that in the week since the details of its event were announced, almost 100 agents have signed up to attend.

According to the event’s organisers, guest speakers PropTech influencer James Dearsley and respected investment analyst Anthony Codling are proving an attractive draw.

With under two weeks to go until the event – which takes place at The Shard on June 29 – LetsBid4Lets says spaces are limited and going fast.

As part of its pre-launch strategy, the start-up has also sent branded gin to around 300 letting agents. 

LetsBid4Lets.com is claiming to offer the first bidding software for the UK lettings industry and is aiming to provide letting agents with a new revenue stream.

The platform says it will provide software that enables agents to list a landlord’s rental property in an auction format.

A rental auction will then commence with tenants bidding to secure the rental.

If a tenant wins the auction, it is their property for the agreed rental period.

All tenants that use the LetsBid4Lets will be pre-referenced by FCC Paragon before bidding.

The new business claims to be in the process of securing ‘significant funding’ and says it will not charge ‘extortionate monthly fees’ or tie agents into long contracts.

This month’s event is being organised by Angels Media, the publisher of Letting Agent Today. 

Interested agents can register for the launch event here.