Where most of the rental solutions companies in the market try to solve the property discovery problems, this Bangalore-based startup uses latest technologies in the web to provide end to end comprehensive solutions to all the rental problems, thereby redefining the entire rental model cycle.
Founded by Sudarshan Purohit, Kailash Rathi and Ankur Agarwal, Zenify.in is an online home rental aggregator and management startup which offers rental solutions to property owners and tenants –from locating a tenant to managing a property to rent payments.
The platform works on statistical modelling and algorithms to solve problems like predicting the rent of an apartment, analysing demand in an area. The company lists properties, undertakes repair work and maintenance of each flat to ensure that the tenant goes through a hassle-free process. The property owner hands over the property to Zenify. There onwards, its Zenify’s responsibility to make sure that the property is live on its website with all the necessary details. Tenants can easily view and book the properties online without making visits. The company also performs a tenant screening, and share it with the owner. A rental agreement is signed between both parties before handing over the occupancy. It has replaced the traditional method of payment with online system of payment.
A month’s rent for the year is charged as a service fee from the owners. For tenants, it’s free and without any brokerage. If the tenant discontinues the agreement, Zenify continues to pay the rent to the owner even when the flat is vacant. “There are 4 million unattended NRI properties in India and this sector has a $4.5 billion market for managed home rentals. We intend to capture a large part of this market and by 2020, we hope to scale up our business across the major cities of the country”, said the team.
Zenify has recently raised Rs. six crores in Pre-Series A from High Networth Individuals (HNI ), who have a minor stake in this company. The company aims to have 6000 properties listed by March 2017.