RentRoomi plans expansion into new markets

February 3, 2020
Share this Post: 

The startup currently allows hosts to list a room or an entire property on its platform, only charging once tenants have moved in.

After OYO Rooms, Rajasthan-based listing platform RentRoomi plans to enter New York, London, and Hong Kong in a bid to tap new monetization models, according to a top company executive. 

Currently, RentRoomi allows people to list a room or an entire property on the platform and only charges once tenants have moved in. Apart from landlords, tenants can also find roommates by mentioning details including rent, area and available facilities, similar to multiple “Flat and Flatmates” groups on Facebook.

Nitin Sharma, Founder, RentRoomi, said:

“When we compare Bengaluru with New York, the American rental market is pretty organized. For instance, if I provide a verified roommate and start charging for it no one would pay. But the same thing works in developed markets."

Owned by 9194 Host Venture, a house-sharing start-up was founded in 2016 by Sharma, a computer science graduate from Rajasthan Technical University. 

With about 12 employees, the start-up is fully operational in Bengaluru, Jaipur, and Pune, among two more domestic cities. Hospitality and co-living platforms including Ritesh Aggarwal-run OYO Rooms (Oravel Stays Pvt. Ltd) are also partners on the platform. 

Working professionals are finding it increasingly difficult to find accommodation. With increasing real estate prices in megacities, including Mumbai, across India, shared accommodation becomes a safe haven for youngsters.

Read more here

February 3, 2020

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Zillow No Sale
Zillow Reneges on Pledge and Cancels 400 Offers Contracts

According to local press reports from Phoenix Arizona, Zillow's iBuying division is cancelling agreements to buy around 400 homes and...

Read More
Portal Products We Like Edited
7 Great 'Under the Radar' Property Portal Products

At OnlineMarketplaces we get sent a lot of press releases around new portal products and, if we're being honest, sometimes...

Read More
Rentpay Skyline
Rent.com.au Signs Agreement to Have Leading Rentals Agency Promote its End-To-End RentPay Product

Australian rental portal and end-to-end specialist Rent.com.au has announced that it has signed an agreement with prominent rental management agency...

Read More
Immoscout24 House Value
ImmoScout24 Extends Data Cooperation Agreement with Sprengnetter for More Accurate AVM Modelling

Leading German real estate portal company Scout24 has extended its data-sharing agreement with appraisals and market data specialist Sprengnetter to...

Read More

Popular News