Auction bid for rent?

[Claude Robinson III]

This might be a dumb question.

A realto in y area usually sells houses in a bid format. He has all interested parties show up on one day and present their max offer. He then presents the highest one to the seller. He figures it is faster than meeting with multiple clients and the seller.

I was thinking. Can this be done on my rental with new renters? We usuall only do one open house, collect 40 apps and then do the background checks. Can we also have folks come with a bid on what they are willing to pay monthly?

Just curious,

Claude