RentRoomi plans expansion into new markets

February 3, 2020
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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

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