YourOwnROOM's rental and property management business was set up in 2016 by Prabhat Kumar Tiwary and Sachin Joshi, both friends and colleagues from DXC. YourOwnROOM provides strategically located managed co-living and family homes to millennial tenants.
“Since the beginning, we have acquired different sizes of residential assets and run them profitably on our platform with help of extensively implemented machine learning (ML) and artificial intelligence (AI) on different internal processes of business. Our platform today provides the capability to bet on suitable asset and markets with long term tenants and improved returns.” says Sachin Joshi, Founder of YourOwnROOM.
YourOwnROOM has an annualised sales run rate of $1 million, an order booking of $4 million, and is operationally profitable. It is working towards scaling to 25,000 beds over the next couple of years by increasing its penetration in chosen 25 micro-markets in Bengaluru and Pune and adding 'Executive Housing', which will include large assets.
“We have learnt that procuring the right asset at the right location and staying on top of operations using tech is critical for our long-term sustained profitable growth,” adds Prabhat Kumar Tiwary, Founder of YourOwnROOM.
YourOwnROOM is in advanced conversations with a few developers and landowners to sign five- to 10-year MoUs for large assets. The startup has also initiated talks to raise a pre-Series A round in order to scale its business to one lakh beds in the next five years. YourOwnROOM, which is eyeing a larger share of the pie, considers Nestaway, Zolo, Colive, Stanza and OYO as its key competitors.