It all started when my close friend Hari began looking for a rental flat after his current flat owner asked him to vacate. He searched all well-known online portals and found that most listings were posted by brokers. He contacted a broker to show him some flats that met his requirements. This broker had just a few flats to show and as Hari did not have full information about them, he was made to visit them all. He realised that he had wasted the trip since most of those flats did not meet one or more of his key requirements (for example: 24x7 security for his family). He contacted other brokers but the situation was not too different. Having wasted many weekends this way and as his current lease was getting over, he finally had to settle for a flat that was way over his budget and not entirely to his liking. He was also not too pleased with the whole broker situation as they were mostly a ‘one person’ set up supported by a ‘Chhotu’. Additionally, many of them behaved like they were the flat owners and the 'service' provided, if you can call it that, was pathetic. To top it all, he had to shell out one month’s brokerage.
We asked ourselves why should Hari, or anyone, have to pay more, waste time and feel hassled while looking for their next home? Can the process of renting a new home be made cheaper, faster and pleasant?
On interacting with some flats owners, we realized that they were also excited about the prospect of dealing directly with someone wanting to rent their place. It would make them know the tenant better and also eliminate the unnecessary interference and mis-communication that comes from the involvement of a middleman. And of course, it would save them money paid as broker's fees (typically a month’s rent).
That is when the idea of Rentchase.com, India’s first direct home renting portal, was born. Tenants deal directly with Property Owners! Both pay ZERO brokerage!! And the experience is pleasant!!!
Rentchase.com has been founded by a group of IIT/ IIM alumni, supported by software experts who have relocated from the USA.