Knowledge

What’s RentMyStay is all about?

Fully Furnished apartments

Tenants could also coordinate with the range of repairs and maintenance services using the platform. RentMyStay is the only platform which allows one to book a temporary home while on, travel, work deputation, family visit, Medical tourism, sales visit, ITeS project. The same homes can also be booked for short term or long term rentals.

On RentMyStay you find properties that are pre-screened and meet a certain standard so you are not out for surprises, plus you find all the required information to book your property online without the need to physically inspect the place. All of this without any brokerage or hassle of negotiating with the owners. Owners get free property management as part of signup with RentMyStay, so they no longer have the hassle of maintaining the property or worry about tenant changes.

Thoughts on Start-ups in India:

From Bangalore to Delhi, Mumbai to Kolkata, many cities in India  and around the world  Entrepreneurs are coming up with new start-ups every single day. With passionate young folks driving the Start-ups, Start-ups are on the high rise these days.

The World is integrated, there are a lot of opportunities. Products that you create could be used by global customers and so means global opportunities for start-ups. This has given rise to a lot of start-ups, even though a majority of them may not see the light,but the ones that will make it will surely change the way we live. It’s good that lot of young people are foraying into this, as a result, a lot of unthought-of problems will be addressed.

The start-ups powered by today’s youngsters arent afraid to take on projects bigger than themselves and wont take no for an answer. They come from all different walks of life, places around the globe, and with varied experiences and knowledge. And they all come with enthusiasm and a desire to learn. Over time, as they learn who they are as young adults, they grow the communities they are a part of into something unique.

My only desire is to see more and more start-ups in the social space. The motivation to start should not be money, but to build greater things for the society. There are a lot of unresolved problems which can address poverty, education etc. I am very hopeful we will see many such start-ups coming to life.

We’ve got lots of enthusiastic youngsters at RentMyStay, who always thrive for new challenges with high spirits. It is because of this special team of ours, we can reach new heights together.

 

The Entrepreneurship ups and downs:

Growing businesses face a range of challenges. As a business grows, different problems and opportunities demand different solutions – what worked a year ago might now be not the best approach.

The greatest challenge we faced was making people understand the concept of RentMyStay. Users instantly compare us with Service apartments and it took us a bit of time to make them understand that we are into a business of only fully furnished apartments.

The another main challenge was to build the right team especially when you are bootstrapped. We have addressed that by choosing candidates who come from non-traditional backgrounds but have the right attitude and desire to learn. This has really worked well for us.

The internet has disrupted and transformed almost every consumer experience and business model. From purchasing Apparels online to grocery shopping to ordering food online; to movie tickets. Consumers don’t just want to turn to the internet to search what they want. They want the firms to work for them. Understanding your consumers and working for them is where the challenge lies.

 

Few key things that you might want to keep a tab on:

  • Keeping up with the market
  • Change is the only constant
  • Cash flow and financial management
  • People are the most critical asset of a start-up
  • Be frugal
  • Cut the go to market time, it is important to quickly test your hypothesis
  • Collaborate with other start-ups

Keeping on top of these areas with your new business will help you keep your head above water. Many points may seem obvious, but many entrepreneurs fall into bad practices and don’t focus their energy in the right areas.

RentMyStay presently manages 300 properties in Bangalore and has served 1500 customers so far! The company is Cash positive and with a team of 23 members and is growing rapidly.

Please comment below if you have any queries.

 

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