Rentprop4u is a Bengaluru-based realty start-up offering property management and rental solutions to owners and tenants. Backed by its cutting-edge technology platform and data-driven analytics, the company aims to take the worry out of owning and renting a home. Established in 2016, Rentprop4u currently has 250 plus registered properties and more than 400 users.
The company offers an end-to-end online rental solution for tenants to find suitable properties at zero brokerage with minimal paperwork, while owners can make use of Rentprop4u’s services to manage their properties and maximise their rental income.
Rentprop4u was started in February 2016 by Nagaraju M, Asha M and Ravi M. The idea was born from a problem that Nagaraju saw many of his young migrant friends face when they had to rent a property in Bengaluru. The security deposits seemed exorbitant for young professionals who had just started their careers. Language was a major barrier when dealing with local brokers, and lack of documentation on the part of owners added to their woes. Nagaraju thought that an online solution without the interference of the owner or the broker could solve these problems to a large extent.
With almost 25,000 units lying vacant in Bengaluru, Nagaraju realised the huge market potential to be tapped in the city. He proposed the idea to his friends Asha and Ravi who were convinced in the viability of the project and decided to back him.
The company has achieved a turnover of Rs 1 crore within a year of its operations. Rentprop4u aims to acquire 3,000 plus properties in the next three years and replicate the model in other south Indian cities.
How it works
With an innovative online and offline offering, Rentprop4u is a one-stop solution catering to all the property needs of owners and tenants.
Home seekers can search and book online from Rentprop4u’s verified listing of their properties. In addition to zero brokerage, tenants have the option to pay the security deposit (five-month rent) in three equated monthly instalments (EMIs). The company takes care of all the documentation work and offers assistance with moving and utility connections too. An added advantage is the facility to make rental payments online.
From finding the right tenant and performing a complete background check to offering assured rentals and managing the property, Rentprop4u provides full-service rental and property management for owners. The company helps residents and NRIs to realise the full potential of their real estate investments. Be it a single property or a large portfolio, the company is so confident of its tenant placement services that it guarantees to let out the property in less than 30 days or start paying the rent to the owner within a month.