Tech-enabled real estate startup – Relocatte became the first-ever real estate company to offer senior executives and business travelers beautifully furnished and equipped premium apartments on rent.
Funded with a fund of Rs 20 lacs at the end of 2015, Relocatte now generates revenue of Rs 20 crore per annum. There is a considerable gap between service-oriented premium apartments and the lack of supply in India. Relocatte is bridging the gap between supply and demand od service-oriented premium apartments.
The regular market mostly targets millennials with cost-oriented co-living spaces and PGs. On the other hand, the demand for senior professionals and expats of service-oriented premium apartments are mostly left out.
There are almost 10 million houses available on rent in Urban India of which only 10-15 is properly furnished. Besides, the property owners of these homes are not able/capable of providing post-check-in services.
The shortage of ready to move in houses is what makes a massive gap in between demand and supply of the premium rental market. Most of the search engines feature available properties listed by brokers, which leaves enormous space for a trust deficit.
At present, there are separate furniture rental businesses, there are mediocre apartments delivering companies, but there was no one-stop solution for the demand.
Relocatte usually leases properties for 3-5 years, and it furnishes the property as required. Afterward, the company provides the property for stays from 1 to12 month. The company offers with the flawless furnishing, amenities and client services through the company’s app.
The company caters to individual and corporate clients in areas in significant business locations including Gurgaon, South Delhi, Manesar and many more. It is currently managing more than 125 apartments over 12 locations and plans to add 7000 properties by 2024.