www.RentSher.com an online marketplace for product rentals is a seed funded start-up – now already operational for more than a year. Anyone – either traditional offline rental suppliers or individuals can upload their products on RentSher in two minutes to give them on rent. Individuals and corporates in need of specific products can book those products for the dates they want. RentSher provides end to end support including online booking, pick up and delivery along with shielding owners and renters from having to deal with each other in case of breakage or loss of products.
“From start team RentSher was keen on two things. First was delivery anywhere in the city and second was to provide guarantee to owners against breakage or loss” says Abhijit, President of Product and Strategy at RentSher. “With these two goals in mind, we built our in-house fulfilment team. Our delivery executives are trained extensively to perform quality checks and ensure legitimacy of owners and renters to ensure genuine transactions”. This time tested process has made sure that we had 0.01% rate of product damage and the renters paid the damage amount.
This outstanding record coupled with high growth and ever increasing demand for a range of products has made RentSher an attractive platform as alternative source of income for many individuals. “There are many individual owners who earn upwards of 10,000 – 20,000 per month through RentSher” claims Harsh Dhand, CEO of RentSher. “We are getting constant enquiries from individuals wanting more piece of action. Many NRIs want to participate in sharing economy but so far they had no reliable channel to invest remotely without the hassle of on the ground operations. For such individuals, we piloted a special Asset Management Program.”
Under this program, individuals can deploy their idle capital to generate rental income through investing in hard assets – similar to buying and deploying cars for apps such as Uber or buying an apartment to rent through AirBnB. To start investors (asset owners) need to commit to buy assets of a certain amount discussed- RentSher will recommend the assets (products) which are in high demand and facilitate procurement, if required. Most of the assets that are recommended by RentSher are already pre-requested by clients (e.g furniture, appliances, laptops etc.) and therefore are immediately deployed – typically for long-term rentals of 1-2 years. If required RentSher will store and manage the assets in managed its warehouses in Bangalore and Delhi and actively market and promote these assets through various channels. All asset details, including any enquiries and transactions are fully transparent to the owners with real time email notifications. The owners get monthly rent pay-outs based on rental revenue generated. As the asset manager RentSher deducts a portion of rent for management fee and maintenance. “We typically subscribe to Annual Maintenance Contract forto these assets on behalf of the owners to make the maintenance is hassle free and to it also helps in stretching the lifetime of the asset life” quotes Karandeep Singh Vohra, who heads expansion at RentSher Delhi head.
RentSher has several large repeat customers in the form of CoHo Homes, Nestway, Zomato, Fella Homes and more who require these items on a continuous basis. With this asset management program many owners are able to earn significantly high annual return on their investment and an even higher IRR as cash flow starts from month 1 of investment. “I like RentSher model and the I was really impressed by the team. They know ins and outs of renting market in India and their recommendations were spot on. I completely trust them with my assets and I am looking forward to participate more in this program” quotes a Dubai based investor and one of first participants of RentSher’s Asset Management Program. One can easily become an asset owner / investor in sharing economy via RentSher Online.