YourOwnROOM: Offering strategically located good quality Co-living and Family managed homes

Sachin Joshi, Co - Founder,Prabhat Kumar Tiwary, Founder & CEO

Sachin Joshi, Co - Founder

Prabhat Kumar Tiwary, Founder & CEO

In India, the co-living concept is gaining widespread acceptance and has brought to the fore some new models in the private rental sector. Though the concept is novel, it's here to stay, as India's millennial population currently accounts for 440 million. The growing interest for co-living spaces in cities such as Bengaluru, the National Capital Region(NCR) and Pune has been instrumental in many investors sitting up and taking notice of this emerging sector to diversify their portfolio and risk. Seizing the opportunity, scores of companies have made their bets on the market. One such company is Bangalore-based YourOwnROOM, a residential proptech rental and property management business. The company provides strategically located good quality co-living and family managed homes to millennial tenants that are safe and comfortable. It engages with residential asset owners which include individual homeowners, developers, building owners and societies in managing their rentals and properties.

YourOwnROOM is known for offering good quality inventory and thoughtfully strategized locations that appeal to the millennial. While other brands concentrate on increasing inventory, team YourOwnROOM primarily focuses on the quality of property while on boarding. "Apart from the quality of the property, we have a Golden Execution Framework which is a stringent execution framework enabling us to deliver the best quality of products and services. It
is the sum total of our Business Process, SOPs, Training and Governance. The Golden Execution Framework can be scaled across cities ensuring delivery of customer delight and the winning of owner trust," says Prabhat KumarTiwary, Founder & CEO, YourOwnROOM.

What makes the company stand out in the crowd is its proptech platform which includes the Portal and App. "This includes our BAU system to manage Discovery, Tenant and Property Lifecycle, On boarding and Off boarding of properties and tenants Invoice Processing, Reporting and Integrations with Payment Gateways and Google APIs. We provide 100 percent automation of business Process through the use of AI and Machine learning" says Sachin Joshi, Co-Founder & Chief Sales, Marketing and Product Officer.

YourOwnROOM is known for offering good quality inventory and thought fully strategized locations that appeal to the millennial

The Beginning
The concept of YourOwnROOM started taking shape when Prabhat and Sachin came across the awful experiences that their friends and colleagues encountered during the time of their house hunting. This strengthened their drive to help solve this problem of urban living chaos. "We were clear that it was not about buying, selling or listing of real estate but was about optimizing assets and giving more value to home owners while delivering managed co-living homes and family homes to millennial. It is the sheer size of the problem and opportunity to solve the same through technology that inspired us to take the leap,"informs Sachin.

The Growth
The company has demonstrated operational success in two of the major cities of India Bangalore and Pune and has a great scalability model in place. It has raised $1.3 Mn in Seed funding from a group of investors that includes US based Investment firm Lotus Capital, Ravi Chaturvedi, former President of P& G Narasimha Murthy and a group of high profile Angel Investors based out of US and Bangalore. Ravi Chaturvedi mentor and angel investor, former President, P&G says & Amidst a highly unorganized market, YourOwnROOM's mission is to consistently deliver a delightful customer experience to the renter and build a trusted relationship with the homeowners, thus creating great value for all stake-holders. This for me is a great recipe for building a sustainable and differentiated business in a cluttered space."

The company currently operates in Bangalore and Pune with an inventory of approximately 1,500 beds and further plans to increase this number to about 10,000 beds in the next two years.