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Execution of Rentit1 (Rental Application)

The document outlines the scope, timeline, costs, and quality considerations for developing a rental application called RentIt1st. The application will allow users to book available housing listings online and also provide payment and in-stay services. The project will be launched in three phases over 10-12 weeks with an estimated total cost of Rs. 7,00,000.

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Namana Khare
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Download as DOCX, PDF, TXT or read online on Scribd
84 views

Execution of Rentit1 (Rental Application)

The document outlines the scope, timeline, costs, and quality considerations for developing a rental application called RentIt1st. The application will allow users to book available housing listings online and also provide payment and in-stay services. The project will be launched in three phases over 10-12 weeks with an estimated total cost of Rs. 7,00,000.

Uploaded by

Namana Khare
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Execution of RentIt1st (Rental Application)

SCOPE:

This project traverses a lot of areas ranging from business concept to computing field, and
required to perform several researches to be able to achieve the project objectives. The area
covers include:

 Everyone as well as aged people will be able to use the system effectively. We aim to
provide hassle free process for the owners and tenants in minimal time.
 Online House/Room Booking: A tools through which customers can book available
Rooms/House/Apartment online prior to their date of using the house instead of walking
around and asking for a vacant house.
 Rental payment: A payment gateway is provided through which the owner and tenant can
easily pay their rents and can check their previous transaction details and same goes with
the scouts, they can collect their amount from our payment gateway.
 In-stay Services: Owners and tenants are also provided with our in-stay services like
logistics, furniture requirement, electronics, etc.

TIME:

Complete project will be launched in 3 phases, so that the services we are providing can be
channelize properly. The phases are-

1. There will be a static website which will give the users a basic information of the project
and its aspects so that, it will be easy to pitch them about the product and which will
eventually help us to collect the required data. This process will take around 14-17days.
2. API (Application Programing Interface) will be made to connect the backend and
frontend of the application and website which will enable the admin panel to start
maintaining the listings and all other data. This process takes a bit of time to be fully
functional and that will be taking around 6-7 weeks.
3. Complete product will be launched with all the services that we’ve promised and this
whole process will take around 10-12 weeks.
COST:

The estimated cost of the project is Rs. 7,00,000/- in which Rs. 5,50,000/- will be the one time
investment to build-up the company, application, all the registrations and the remaining amount
i.e. Rs 1,50,000/- will be the monthly recurring amount for the office and salaries of the
employees.

QUALITY:

All the above points or strategies to be followed properly so that the ability of a process to satisfy
all the needs of completing the project, all the management and promised needs of the
customer/client should be the main concern of the company and the main moto should be
delivering the quality output.
Processing of the Company:
BUSINESS MODEL MAPPING COMPONENT
DESCRIPTIONS
Business Model Mapping Component Description
Components

1. Value Proposition  An application (App) and a website offering landlords and


tenants an easy way of renting through the online portal with
a. Essential Means hassle free user interface in a very less time period.
b. Essential Need
2. Entrepreneurial Fit  No prior experience, want to work as an entrepreneur
 Bring the process of renting to the minimal time through an
a. Starting Position
online platform where each and everything can be done
b. Personal/Technical/Strategic Fit  Help the tenants and landlords to manage their property in just
one click/tap.
c. Exit Alternatives  If the circumstances came and I’m not able to handle the
business, then I’ll sell the project and invest it on other business.
3. Role/Position in the Value Chain User login  Search Property  Selection of property  Scheduling it’s
visits and pay for the same  Scout will be assigned  Confirmation on
property  Documentations  Verification  Agreement Signing 
Payment settlement through the App  Household Services if requested
4.Target Market/Customer  Working people who are seeking for a place, where they can find
property on the go and can save their time in searching properties
and the household services.
5. Products/Services  One stop solution for property renting
 Online Rent payments through App/website
 Online documentations
 Household services
6. Channels of Distribution  Website
 Mobile Application
7.Revenue Stream  Brokerage
 Commission over other services and amenities
 Transactions will be done through a payment gateway
8.Costs and Expenses  Registration and incorporation of the company, Office Utilities,
Furniture, Mobile application, Website, Marketing and all other
monthly expenses.
9.Operating Activities  Data collection for listings, images, 360⁰ view and videos of the
house, background check on tenants as well as owners, in-house
services, maintenance of the house/apartment
10.Key Partners and Associates  Local vendors related to in-house services and maintenance, we
want more and more women to work as a scout for women
empowerment
11.Resources and Assets  Infrastructure, human capital
 Significant external funding
12.Intellectual Property  Brand, name and trademark, logo, copyright, Scout service
13.Marketing Activities  Signage, print media, website, promotions, events, advertising,
sponsorships, coupons and offers, broadcasting messages
14. Customer Relationships  Personal, loyal, face to face, professional yet friendly, repeat
customers, sense of affinity to website/mobile application
15. Product Alternatives  Brokers and other companies working on similar platform
 Other rental websites and mobile applications
16. Industry/Economic Environment  Real Estate rental, online technology process, as every services
are now online based and people are preferring the one stop
solutions.

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