Housing.com coming back into the rental space

Real estate Housing.com is all set to expand its presence from Home Buying and Selling to Home Rentals as well. Interestingly, this is their re-entry to the rental space as they shut down the service last year as a strategic decision. The relaunch will be by the end of 2017.

According to a statement from the company, compared to last year, on a monthly basis, the Company’s revenues have grown by 400%, operating costs have decreased by 70%, traffic has increased by more than 200% growing from 1.3M to 4.1M and number of homes listed have increased by over 450% growing from 110,000 to 630,000, making it the most popular platform for both home buyers and sellers.

Commenting on the development, Jason Kothari, Chief Executive Officer, Housing.com said, “The Company has delivered exceptional results in the last one year and has achieved a successful business turnaround. We are excited with the progress and believe now is the right time to expand, starting with Rentals. Although we had planned to restart rentals around end of 2017, but the recent demonetisation move has led us to advance our plans. We have started the preparations, and we look forward to an aggressive launch early next year.”