One of the biggest online real estate platforms in India and worldwide, Square Yards, has officially ventured into the rental market with its 2020 acquisition Azuro, the provider of app-based rental services and property management solutions. The aim is to disrupt the market for rental properties while digitally enabling the relationship between tenants and landlords.
Getting the best property for rent online- How Square Yards simplifies the process
Rental options will be available aplenty for tenants, thereby solving the problems linked to availability. This will include ready to move flats for rent, independent house for rent or even society flats for rent. From getting the best 2 BHK independent house for rent or a preferred flat to enjoying swift payments through credit cards and easy maintenance and property management courtesy Azuro, tenants will get a host of benefits. They can also download rent receipts instantly post making payments.
Landlords can easily advertise rental property for free online while getting quality tenants for their flat on rent. Property management, payment follow-ups and other tedious aspects of the job are taken care of by Azuro in this case. Tanuj Shori, CEO & Founder at Square Yards, highlighted the multibillion market opportunity in India spanning property management and rentals although he talked of how this segment still remains under-served. He talked of how demand has been strong from developer clients and also from NRI customers while adding that the brand will expand globally in the future including the Middle East where Square Yards has a major market presence.
Azuro was acquired by Square Yards early in 2020, making it a full-stack spectrum of services pertaining to real estate. It is already managing 1,500 properties with annual rentals of $6.5 million across 5 of India major metros. Over the last quarter, the company has inked exclusive partnerships for management and execution of close to 5,000 apartments with leading realty players like Godrej, DLF, M3M, L&T Realty, Emaar and Mahindra Lifespaces among 25+ developers in total. The rental space is expected to grow manifold in the near future with more consumers switching for shared models over asset ownership. The Model Tenancy Act should also be a big enabler for the growth of the rental housing sector, making it ripe for technological disruption at present.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.