Rent Your Vacant Homes to Oyo and Earn Money

It seems the budget hotel service provider is walking a mile ahead in creating a bubble in the real estate market. Yes! After launching OYO Asset Management company on August 26, the company further plans to tap vacant residential apartments as the hotel rooms.

What’s the inside plan?

Is your home lying vacant or do you want to earn extra money or want to beat the spiraling rate of inflation? Well, the Softbank backed startup has brought in a new concept on board wherein it plans to approach the home owners and will try to create them as mini hotel rooms which could be further rented out to the guests.

In this new venture, the home owner can remain stress- free because an individual will be appointed from OYO to work as a caretaker. He/she will help the guests to check in and later for the payment assistance. The company has already started its pilot project in Goa and plans to roll out this innovative concept all across the country.

Will it be at par with the real hotels?

Well, the efforts will be made to keep it at par with the hotels. A wide array of facilities will be provided to the guest’s including Wi-Fi, air-conditioned, flat TV, stocked kitchen and entertainment zone. The only thing absent will be the hotel will not provide complimentary breakfast as the fully functional kitchen will be provided as a supplement.

Here’s what a business man has to say who partnered with the OYO hotels

“The OYO team took charge of managing and beautifying the interiors, something we did not have expertise in. It also takes care of maintenance.”

However, this is not the first time OYO hotels have spun off something innovative. Back in 2015, the company has Piloted Studio Stays program for the students and job seekers.  Now, is it because of its innovative ideas the company has grown by 12x in 2 years.  Well, the company claims so.

Will it be a curvy road ahead?

It is believed that it won’t be an easy drive. Here’s what expert has to say about this roller coaster ride:

“Although OYO may succeed in some states, in others it may run into resident welfare associations that have their own set of rules when it comes to renting out properties for commercial purposes.”