Renting household items and outdoor equipment for temporary usage just got easier. A Bangalore-based startup, GrabOnRent launched its services in Hyderabad promising to let the citizens hire anything from furniture to electronic items, cycles to trekking gear. The startup will allow users to rent products for long term or for an average of 7.5 months to short-term for an average of 1.5 days.
Shubham Jain, CEO, GrabOnRent said, “We have collaborated with over 400 vendors in the twin cities. These vendors have a range of products but lack a medium to reach to the correct audiences. To bridge this gap and contribute further to the market growth, we organise the sector by getting these vendors registered and bringing their products onto our platform.”
No commitment to utilise the products for a certain period is needed from the user’s side while renting the items.
‘Open box’ policy
The startup also has an ‘open box’ policy where the products will be unpacked and set up in the presence of the user and if it is found unsatisfactory then the user has the right to reject it. A one-month’s rent amount and an advance of a month has to be paid by the user
Manish Sugandhi, COO of GrabOnRent said that individuals can invest in the business expecting high interest on them.“We will suggest the interested investors to buy certain products from companies that we have a tie-up with. The investors will get an annual interest of 20.4% on their investments,” said Mr. Sugandhi.
He added that in the near future they are looking at coming up with an option for all those who want to directly rent products through their platform.
