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

Spanish Proptech Firms
Housfy Gets Funding and Casavo Expands as Spanish PropTech Market Heats Up

The Spanish PropTech market is heating up with two prominent companies in the market announcing positive news this week. Online...

Read More
Leboncoin Op 1
LeBonCoin Launches New Offering to Help Agents Win Sales Instructions

The French classifieds market leader LeBonCoin has today announced the launch of a new package for real estate agents. The...

Read More
Domain Data
Domain Acquires Data Services Provider Insight Data Solutions

Australian portal company Domain has today announced that it has agreed to acquire data services provider Insight Data Solutions (IDS)....

Read More
Carousell Ceo 1
Southeast Asian Classifieds Operator Carousell Bags $100M Round to Become Region's Latest Unicorn

The Singapore based classifieds operating company Carousell has announced that it has secured $100 million in financing. The latest investment...

Read More

Popular News