Apart from browsing our market rate listings, Oursqft allows tenants to bid on vacant space in hopes of getting a below market rent. Oursqft provides a seamless process for tenants to review lease terms, unit details, and to schedule showings directly through the platform.

When you place a bid on a unit, the amount you enter includes our auction success fee, ensuring full transparency in your total monthly rental cost. This means the bid price you see is exactly what you’ll pay – no hidden charges. However, please note that if you’re selected as the winning bidder and choose not to proceed with the lease, a break fee will be charged. This break fee policy helps maintain the integrity of our bidding system and ensures serious participation from all bidders

A tenant can register for an auction by completing the registration form and by completing a background and credit check through Transunion. Once completed the credit and background check will stay live for 60 days, allowing the tenant to complete registration for any other unit auction that the tenant is interested in. The landlord has the right to deny your participation in the auction at any time. 

All auctions are subject to landlord final approval. Winning an auction does not guarantee a mutually signed lease between the tenant and landlord. Landlord will review the tenant’s criteria prior to, during, and/or after winning an auction to determine if the tenant is an appropriate lessee for the space.

The tenant will be notified that the landlord did not accept the final terms of the bid and the tenant will be able to continue bidding on other units. A tenant may always bid on more than one unit at a time.

Unlike property sales, landlords not only look at final lease price, but they also look at tenant financials, credit worthiness, and background. If a tenant believes one of these areas might not be up to par with what a landlord is looking for the tenant can add a guarantor to the lease.