Finding a house for rent is one of the biggest problems that out stationed people have in metros, and if I talk about a house on rent for two or three months or may be few weeks, it sounds insane. But if you think about it, it is a real problem, you are building a house and you need to stay nearby to keep a check, in times of medical needs you come to a city for few weeks and need to put up somewhere. What do we do in such cases? There was no convenient way, just some “jugad” that would more than often be troublesome. This is exactly what RentMyStay founders experienced themselves and also came up with a solution.
Kiran Nagarajappa and Rakesh Kamble, are techies with more than 10 years of experience in Product management, Product design, Product transformation and software development. Based out of Bengaluru, they founded RentMyStay in 2015. Kiran is an MBA in Strategic Marketing from AU University and BE in Computer Science from RVCE. He is also a fellow of Startup Leadership Program – 2015. Rakesh did his engineering from Dayananda Sagar college, Bengaluru. He sees that the future of renting space would be more agile and flexible, and this is going to change the course of the way People live.
“It’s a new concept and requires educating people in rental and travel domain. During initial days, the challenge was to make owners understand that they can earn better revenues and it required persistence and patience,”
Their venture, RentMyStay is an online platform that makes renting a place for a short duration easy and effortless. It provides a variety of options ranging from fully furnished apartments, villas, rooms to independent homes. Following the flexi rental model, RentMyStay allows one to rent a house for a few days to a few months. RentMyStay is currently a 23 member team and is growing rapidly.
Kiran tells Knowstartup:
“We offer fully furnished rooms, ideal for long and short term rentals. The next big innovation is going to be in the “On demand-On the go homes” domain. This will enable people to easily shift across home along with your job, other needs. We take care of furniture maintenance at the properties”
In the initial stages when they were cataloguing unsold apartments, they noticed a huge gap between rental space and service apartments. Their research team saw that the clients were unhappy with the traditional method of paying huge premium for service apartments. This brought forth the idea of pioneering fully furnished, do-it-yourself model of renting. Soon, the network grew into 100 furnished apartments, which they started marketing exclusively. RentMyStay charges a transaction fee, but the effective cost for a guest is much lower than a service apartment or a hotel.
Currently, the Bengaluru properties are located at BMT, Koramangala,HSR, Electronic City, JP Nagar, Whitefield, EGL, Bommanahalli. The venture currently manages 200 properties in Bengaluru and has served 1500 customer so far. In Jan 2016, the venture also entered long term stays and today they manage a strong number of over 200 properties in 8 different locations across Bangalore. In next 3 months, they would be entering Hyderabad, Chennai, Gurgaon regions as well.