Eqaro partners with YourOwnROOM to offer Rental Bonds
Eqaro Guarantees, a monetary establishment offering surety options in India, has entered right into a partnership with YourOwnROOM, a residential actual property prop-tech rental and property administration firm.
Under the association, Eqaro Guarantees will problem rental bonds on behalf of start-up YourOwnROOM’s tenants at a nominal price to the owner. This will allow the tenants to maneuver into rented flats with no safety deposit.
This alliance between Eqaro and YourOwnROOM aims to make accessible zero deposit rooms to the whole tenant group together with households, working professionals, and singles, the corporate stated in a launch.
Traditionally, landlords have been reluctant to let loose their property to singles and dealing professionals for numerous causes, together with belief deficit, considerations over the tenant’s conduct, and maintenance of the property. The partnership is meant to handle such points and facilitate the provision of most popular form of lodging with no safety deposit.
The customized offering is extremely wide in its coverage, including cover for unpaid rent, lock-in period up to 11 months, damages to the property, utility bill payment, move-out charges, and breach of the notice period.
YourOwnROOM signs a 3-5 year MoU with property owners to manage their property and rentals. The proposition benefits the landlords as well. Eqaro Guarantees will provide landlords with credit verified and assessed tenants backed by an institutional guarantee, said the company.