June 23, 2021


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Different Types Of Online Rental Business

Types Of Online Rental Business

The rental business is new popularity when it comes to on-demand services online. Be it a car, bike, or cycle rental or a house rental (not usual rather short term) the renting culture has got a new look face. With rising prices and limited income, the middle class and more specifically the youth from that economic category don’t like to commit to EMIs for getting things. Rentals are what they look for. And that’s why this has become a business of its kind online and generating billions of revenue each year.

Online service providers are quickly adding rentals as an option (if they provide that kind of service) for their users. Modifying their existing apps with Top Booking And Rental Software they are easily offering such features in a hassle-free manner at the user end.  But if you are a newbie in the rental domain or are an entrepreneur looking to go up with an online rental business then we have some ideas for you. Here are some of the rental business (existing and potential) that you can consider to kick start your business:

Space Renting

Renting of spaces is something that has been existing for quite sometimes but is not very much organized and is still quite manual then online. Here I am not talking out about commercial or residential space renting. What I want to say is short time renting. Say renting of lawns, banquet halls for certain hours for functions. Apart from these common space renting there are a newer extension in the domain in face of renting of space for parking, shoots, seminars, meetings, etc. An organized online ecosystem is something that is still missing in this domain.

Equipment Renting

This is a section which has got less attention as of now when it comes to renting. In sports and specialized activities, this kind of renting has huge scope. Say for example games like Golf and activities like Fishing, people like to spend time in these activities on holidays, weekends and after work but don’t like to buy an expensive golf kit or a fishing rod as it would not be used regularly and maintained. If they can get these things as and when they want on rent then it would be nothing less then a boon for them.

Bikes And Electric Vehicle Renting

Online rental services have made inroads in the automobile domain but that has been somewhat surrounded by four-wheelers only. Two-wheelers like bikes, scooters are still lagging behind. Further with environment concerns the E-vehicle industry is getting a boost and thus e-vehicles are also an option to be rented. An app say for example specializing in two-wheeler rentals can be nothing but a huge hit say for example in mid-income markets like India where people would be even interested in monthly, weekly, and day to day renting.

Accessories Renting

The onset of digitization has expanded the domain of digital marketing. And videos, photography, and vlogging are an important part of that. However, the accessories required for the process say professional camera, tripod stands, lenses, harnesses, etc are something that people like to borrow or rent. Well, investing in a professional camera for a single assignment can not be a good idea and thus this kind of renting comes in handy for mid and small budget digital marketers, vloggers, and also for YouTubers who have just begun their channels. Offering services to such people also bring quick advertisement for your business through sponsorship.

Furniture Rental

Yes, this has been existing and is expanding as well. The furniture rental business is showing good results in megacities and is expected to penetrate the tier 2 market as well. Nuclear families, students, young working professionals are the target base of this business as they have to change places based on their needs. Thus, they are not ready to invest in furniture and face the hassle of their transportation each time. Rather getting them on rent is what they look for. Platforms like RentoMojo are already catering to these needs. You can rent from a simple study table to a fully furnished setup to the users based on their needs and budget. With growing urbanization, this is something that is growing and would grow.

About The Author

Hermit Chawla is anMD at AIS Technolabs which is Web design and Development Company, helping global businesses to grow byWeb Development Services. I would love to share thoughts on Online Hotel Booking System Servicesand Game Design Development etc.