What Steps to Follow in Creating Rentomojo-Like Rental Marketplace?

When saving money and stopping cost constraints, renting something is always a tickled pink for the users. More than buying it from scratch, renting will have different options. Also, it helps people to change products from time to time based on the updated trending feature. Renting cars, houses, electronics, and other related topics benefit people. Many businesses have begun to build online marketplaces for rental purposes, like Rentomojo. That is why the IT hub includes a mobile app development company in Toronto that focuses on building a marketplace that pushes the boundaries of uncertainties. Toronto app developers evolved to build customer-centric digital products that meet global standards. Now you can ask how to construct a rental marketplace like Rentomojo. Let's plunge into the article by learning its features and benefits for more facts.

#1 What Is Meant by Rentomojo?

Before building an online rental marketplace like Rentomojo, we need to know the real meaning of it. RentoMojo is an online rental marketplace offering users household needs for monthly subscriptions or rental purposes. It includes furniture, WFH appliances, electronics, fitness resources, and more for the benefit of users. The sign-up process is simpler, and shoppers can add their products to the cart quarterly, half-yearly, and yearly. One of the significant advantages of using Rentomojo is that it delivers the ordered products to your doorstep free of cost.

#2 What Are the Top Features of an Online Rental Marketplace Like Rentomojo?

Features For the Renting Users:

Onboarding: Easy registration of the user's personal details and Email address for a fast login process.

Search Bar: An online rental marketplace must provide all the required products and resources for the users. The search bar must work effectively to give results by searching itself.

Location: It also must integrate location space where users can select their place at the beginning so that people will get only the curated products.

Upgrade to New Product: When you've rented a product, but you're looking for an upgraded one as per the time. The user can change the product by enjoying the same comfort.

Wishlist Product: A familiar feature that every user expects in websites for adding their favorite products to a wishlist. They can add multiple products and rent them out in their comfort.

Filters: Filter is one of the essential features for the user to choose products based on the review, cost, color, availability, and more.

Payment Gateways: Users must get a feature of paying their product rentals using a multi-payment option, including Debit/Credit cards, UPI, and more related.

Customer Support: Customer support is the most critical feature, and it provides services from morning to evening via chat system or can mail directly to their mail ID.

Features for the Operations Center

Oversight of Interaction: The admin will have full control by checking the interaction between the parties and owners and how efficiently it undergoes.

Unauthorized Users: The admin can remove the users who haven't met the platform's guidelines or provide false information.

Managing Content: The admin has the full authority to deal with the content that produces and removed in the platform based on the scale of changes.

Review-based Decision: Based on the user's reviews of the product or service will get removed by the admin to avoid any future barriers that affect both users and the marketplace.

Customer Chat: The rental marketplace will answer the user's queries in a shorter and more concise way to avoid time constraints for both sides.

#3 Top Benefits of Building Online Rental Marketplace Like Rentomojo

Various benefits can rely on building an online rental marketplace. Some of the familiar benefits of building a rental marketplace like Rentomojo are.

Convenience: A convenient platform that assists users in searching, comparing, and renting products that will fulfill their requirements.

Platform Scalability: The platform's scalability can be so massive by connecting more variety of products for users to rent and embracing a lot of vast users worldwide.

Free Delivery: An additional fee for the delivery of rented products is unnecessary because the platform can deliver free of cost.

Affordable Rents: Every household product, and even an iPhone, can get rented for the user's comfort at a reasonable price.

Use first and pay later: The product which rent from the marketplace allows users to utilize the product before paying for it. This initiative will be the most reliable benefit users can receive to earn trust from the marketplace service.

Easy relocation: If you're relocating to another place, the marketplace can bring you to your desired location with your subscription.

Healthy Community: Consistently maintain and aim to provide a more interactive collaboration community between the renters and suppliers.

#4 How Do Rental Marketplaces Work?

Every rental marketplace will aim to provide a customer-centric approach to its users. The only difference is how uniquely they will provide service and features that welcome their customers. Let's explore how these online rental marketplaces work.

• As a first step, users will install the rental marketplace app.
• Then users will register with personal details like phone numbers for easy login.
• Users need to select their residing location for the availability of products.
• They search for household products for rent based on the amenity.
• After choosing the products, the user will select the subscription plan and pick one that meets their needs.
• Once the product is determined, the seller must decide on availability.
• After the confirmation, the product gets delivered to the doorstep.
• The tenure cycle will resume once the subscription gets over.

How to Build a Reliable Online Rental Marketplace Like Rentomojo?

Building an online rental marketplace like Rentomojo needs a lot of plans and resources. It requires a lot of steps to follow and ensure the desired outcomes for the benefit of the renters and sellers. Some of the familiar stages that need to consider

Planning Stage

Planning is a crucial stage where every aspect of an online rental marketplace needs to get prepared from scratch. Businesses need to have a clear understanding of your idea and RentoMojo. An idea with clarity needs to shift as a model with uniqueness to serve the users that solve their problem.

Research

Having in-depth research on the market condition is safer for building a marketplace. It includes the target crowd, location, competitors, and more that are beneficial for businesses to build a brand. A researcher can use surveys and forms to gain immense responses and gather information to make a helpful decision. A realm of ideas can provide solutions by researching people's pain points.

Development Team

Always go with a team with expertise and knowledge in the field of the rental marketplace and work beyond the cost. App developers in Toronto are one example of a team that produces cost-efficient services.

UX/UI of Marketplace

Designing plays a significant role in any app or software to bring in customers and clients. UI design needs to be more intuitive, which will decide the enlightening user experience.

Testing

Once all the features, designs, and coding processes are formed, do proper testing to find and fix the bugs to avoid future issues.

Deployment Stage

After crossing all the stages with the proper testing and designs, it is ready to deploy to the world for the users. Maintaining and updating after the deployment needs to be regularly maintained.

Bottom Line

The rental marketplace is an evolving trend covering almost every business and user worldwide. It also becomes the future reshaping from buying expensive products to renting out for affordable prices. It includes furniture, refrigerators, AC, WFH essentials, and more. This cost-friendly concept will build a revenue model and customer value for an extended period.