Recently, I was invited to a Rentomojo Bloggers Meet at Ramada, Bangalore. To be honest, I hadn’t known much about Rentomojo till I got to hear a brief introduction about them before attending the meet. It sounded quite interesting, and I agreed to be a part of the event to discover more.
What is Rentomojo?
Let’s consider some typical scenarios:
>> Relocating to a new workplace is one of the most difficult things you can go through during your career. People in transferable jobs know the pain of packing, unpacking, and shifting from one place to another. Whenever they move into a new house, they either get their stuff shifted or sell off the old and buy a new one later. Selling off never gives any return value, and many times during transportation, few of our goods can get damaged. Solution to this scenario can be provided by Rentomojo.
>> Are you a bachelor and moved to a new city away from your parents’ place? Does your empty house look sad like an empty canvas? But at the same time, you don’t want to invest big time in furniture and appliances as you are unsure, unsettled, and don’t know where to next? Well, the solution to this scenario can be provided by Rentomojo.
>> Are you a person who likes to change your furniture often with changing styles? Do you want to design your kid’s room as per their age? But what about the old furniture that goes out of style as time passes? Well, the solution to this scenario can also be provided by Rentomojo.
I am sure by now you are wondering who or what is Rentomojo? Founded in 2014, Rentomojo started as a rental business and has since evolved as a fintech model where the customers can rent furniture, rent appliances, and rent bikes by paying an extremely affordable RMI (Rental Monthly Installment). Founded by IIT alumnus Geetansh Bamania, Rentomojo is a first-of-its-kind consumer product leasing business that raises lease-capital from financial institutions for products rented to consumers for long-term periods, typically 12-18 months.
Renting vs Buying / RMI vs EMI??
Why renting, many might wonder? Rentomojo understands that unnecessary furniture and appliance costs aren’t the best investment options. So they have come up with an easier solution by providing more than online rental services, and help customers explore a world of possibilities.
Some of the conveniences offered by Rentomojo are:
Lower down payment – When we choose EMIs, we end up paying either a larger interest rate, or a hefty down payment. With Rentmojo, we don’t have to worry about either of those as the 2-month security deposit they collect is nominal and completely refundable.
RMI is always better than EMI: With RMI there are so many benefits which are not available with EMI. Flexibility and non-commitment to the products are the biggest of them. We just have to take the products until the time we want and return when we don’t. RMI (Rental Monthly Installment) is interest-free and way more convenient than the heavily interest-ridden EMIs.
- Products as good as new – All the products are refurbished with utmost care to truly enhance your rental experience.
- Relocate for free – The main headache of relocation is packing and moving our goods. But with Rentomojo, this is taken care of.
- Swap products – Bored with the same look? One can easily exchange products for a new one of same or higher value after 18 months.
- Free maintenance and cleaning – If all these facilities were not enough, starting from 11th Feb Rentomojo opens up the door to ‘The Smartest Way of Ownership’ – an option to ‘Rent-to-Own’. In this, the customers will now be able to rent till whatever time they want, return or own the products. With the new offering of ‘Rent-To-Own’, the customers will have a new way of ownership, where after paying some RMIs, if the customer feels like buying the products, it can be done.
No doubt Rentomojo has given a perfect tailor-made solution to today’s modern India. Right now they are in 8 metropolitan cities of India but I am sure soon they will be throughout India and become a big hit everywhere. With assured quality and prompt services, one can say goodbye to all the hassles that come with buying and say hello to convenience. For more details, check out their website here.