Housing.com to re-enter rental business

Housing.com, the online real estate portal, has re-entered the online rental business and is targeting to list 2 lakh homes in next 3 months. The startup, founded by Rahul Yadav in 2012, exited the rental business and started focusing only on buying and selling of apartments. The reality portal, which recently merged by PropTiger.com, has opened by 60,000 listings as of now, and looking to increase the number multifold in near future.

The company’s spokesman said that “The reintroduction of rentals is a crucial step for the brand which was a leading player in the segment. Following its recent merger with PropTiger to form India’s largest digital real estate company, this move will further strengthen Housing.com’s position within the real estate ecosystem”. The re-introduced offering is also expected to contribute in the firm’s target to touch 10 million visitors by the end of FY18.

Housing.com has seen many top management changes in its short gestation lifetime. The company’s founder Rahul Yadav was dramatically ousted after a tussle between him and the investors. The new CEO appointed by the investors changed the strategic track of the firm, but now re-entering the rental business shows a sign of desperation for going back to the original model.