Revolutionizing Home Rentals: An App for Hassle-Free, Broker-Free Renting
Team Leader Name: Prabodh Kumar Nayak
Team Members Name: Surya Narayan Nayak
Identifying the Problem
*Time-consuming process
Because brokers are involved, finding a rental home can be a time-consuming and difficult procedure.
*High brokerage fees
High fees from brokers make renting expensive for both landlords and tenants.
*Limited options
Because brokers do not always have access to the entire inventory of available residences, tenants frequently have few options.
*Lack of transparency
Brokers may misrepresent properties or fail to provide all the information required, therefore transparency may be a problem
The Idea: Broker-Free Renting
*Simplified Rental Search
Our app allows user to conveniently search for rental properties in their vicinity and connect directly
*Direct Communication
Tenants can communicate directly with landlords, eliminating the need for intermediaries.
*Dedicated Support
Our dedicated support team ensures a seamless experience for both tenants and landlords.
implementation strategy
1- Implementation Strategy
Our implementation strategy revolves around the development of a highly user-friendly app, ensuring a smooth transition for both landlords and tenants.
2- Duration of Implementation
Within the next six months, we want to start in large cities and progressively go to other locations.
3- Roll out Plan
User acquisition tactics and focused marketing efforts are part of our roll-out plan.
4- Speed of Deployment:
We are personally spearheading the development efforts and utilizing our potential to guarantee a prompt and effective app deployment, knowing that our skills can match those of a committed team.
Future Work:
In the future, we plan to implement a subscription model for house owners, allowing them to purchase various subscription plans to enhance security and trust. For instance, if a house owner opts for the BASIC plan, and a tenant expresses interest in renting their house, we will conduct an ID verification check. This additional security measure is included in the subscription model.
In our current model, we charge a nominal fee of 40-50 rupees for listing a house in our app. This fee is justified as we conduct thorough verification of the tenant's Aadhar and PAN details, significantly reducing the likelihood of fraud or misuse.
Components Details and Their Costs:
SL NO. | Items With Detailed Specification | Quantity | Approx Rate/Unit INR | Total Amount INR |
1 | AWS EC2 INSTANCE (2vCPU 4GiB memory) | 1 | ₹3000/per month | ₹3000 |
2 | GOOGLE MAPS API (Android Maps SDK and Places API) | 1 | ₹2.24/per hit (user) | ₹3 |
3 | WEBSITE DOMAIN | 1 | ₹449/per year 1st registration | ₹449 |
4 | SMS SERVICE (FOR OTP) PROVIDER: MSG91 | 1 | ₹1250/per month | ₹1250 |
5 | TENANT ID VERIFICATION API | 1 | ₹79/per hit (user) | ₹79 |
6 | GOOGLE PLAY DEVELOPER ACCOUNT | 1 | ₹2079.89 | ₹2080 |
| | | | |
8 | Total Amount | | ₹6,860.13 | ₹7000 Approx |
EXPLANATION VIDEO
Thank
you
