The Indian economy has witnessed massive changes in the past decade, not only in its standard of living but also in the way people have bought and sold goods. From LPG in 1990 to the revolutionization of technology in the post-2000s to the drastic developments we as customers have witnessed since the evolution of advanced chatbots like Chat GPT 4 and Midjourney. Multiple corporations have been trying to deploy a maximum number of AI tools to track user behavior, understand patterns of buying and selling, and likewise tag new customers for more market penetration.
Rental marketplaces: What do they do? The first-ever rental marketplace was started in 1996 by Geert Jan Bruinsma with the objective of providing a safe haven for travelers to plan their trip beforehand. Rental Marketplaces are platforms that were developed with the intention of providing a space for their consumer base to rent anything from furniture to electronics, from vehicles to properties.
An extremely popular analogy for this would be AirBnb, which provides you with the luxury of renting; it connects two parties, one looking for a property to rent and another looking for accommodation. Our subject today revolves around finding similar examples of more such rental marketplaces that have upheld cost-effectiveness, sustainability, and transparency in the long term.
Let’s talk about all of them one by one:
Jugyah
Jugyah is a tech-powered real estate company founded on March 1, 2023, by Ansuman Mohanty and Arshad Balwa. The company provides a one-stop solution for tenants and landlords to rent properties by utilizing the robust verification mechanisms put in place. In addition, they lend those services with zero security deposits and zero brokerage fees, a one-of-a-kind system that makes their products accessible for everyone. The organization is backed by a few of the biggest real estate developers in the country, like Lodha, Rustomjee, and Godrej.
RentMojo
RentMojo is a rental marketplace that was started by IIT Madras graduates Geetansh Bamania, Achal Mittal, Gautam Adukia, and Ajay Nain with the motive of empowering a new way to utilize rental furniture and home appliances. RentMojo has since been responsible for primarily providing a diverse number of facilities to its users, and it has bridged the gap by giving consumers the flexibility to use these services according to their own convenience on a short- and long-term basis. They lend cupboards, dining sets, sofa tables, beds, and wardrobes, cutting down on the high upfront costs. Furthermore, they also offer washing machines, refrigerators, and microwaves. While providing these products, they make sure all of them are in good condition and well maintained for their users.
Urban Clap
UrbanClap is primarily known as a home-service aggregator, but it has embalmed itself with a new rental segment that provides customers with anything and everything that they require on a short-term basis or on special occasions. From fulfilling your need for a tutor or photographer to arranging a fully functional projector for your D-Day presentation, the platform helps with your assorted needs. Besides, it has always been a priority for them to establish stricter rules for verification so that the end users only get high-quality services by collaborating with vendors that they trust. An important element for every rental platform, be it Urban Clap or Rent Mojo, has been its seamless user-friendly application, which helps shoppers navigate through the platform.
Revv
Buying a car can be a comfortable option for some, but for others, it may seem too luxurious or too heavy on their pockets. Rev is a company that serves you well in this bracket; its principal product is providing transportation services to families and individuals. The best part? They charge you on an hourly, weekly, or monthly basis, depending on your own convenience. The consumers have a range of products to choose from, from hatchbacks to SUV sedans; they provide economical and budget-friendly options to everyone. Additionally, making sure these cars are in top-notch condition to provide quality conveyance to their end users. The company was founded in 2015 by Anupam Agarwal and Karan Jain. Whether it’s a business meeting, a vacation, or a family trip, Revv has got you covered for every journey of yours.
Grab On Rent
Grab On Rent is a versatile online rental platform that provides its users with a wide variety of services, from home appliances to electronics to fitness equipment. They cover every need for their shoppers by providing them with diverse services and products like laptops, bikes, sofa sets, cameras, cars, etc. The marketplace primarily focuses on providing hassle free services to its customers through regular checkups, charging lower maintenance fees, and only providing goods that are of top notch quality, ensuring loyalty and trust.
The post-pandemic era has brought about a huge change in how people view buying and renting property. While buying is a viable option for individuals for asset allocation and long-term credibility, it is not viable for people who have meager earnings and want to allocate their funds elsewhere. As of the data released in 2018, around 40% of the population living in the top 8 metro cities lives on rent to save costs and for flexibility. Post-1970, the choices among urban millennials and married couples have changed a lot, also influencing the way the government has approached housing. The rent paid has accumulated to $32 billion annually in the top metropolises.
Talking about House hunting, we have a plan ready for you beforehand. We at Jugyah are fully committed to fulfilling every need of our customers, be they tenants or landlords. Our team is at your service, helping you traverse your journey toward finding a home. We are backed by some of the most reputed developers in the country, to name a few: Godrej, Rustomjee, and Lodha.
What do we offer? The best home with zero brokerage fees and zero security deposits for you! The offer stands till the umpteenth day, and so do we, waiting to welcome you with open arms to the place you call home—to the place that you belong!