SINGAPORE: In an unprecedented move in the property rental market, Singapore-based startup RealEzy Pte Ltd has unveiled a Peer-2-Peer (P2P) tech platform to directly link tenants with landlords for renting out rooms and entire units.
The innovative platform eliminates the need for security deposits from tenants and bypasses property agents, making rental transactions smoother and more cost-effective.
Originating in 2021, RealEzy has established itself as a holistic digital solution, facilitating an array of services from finding and verifying potential renters and landlords to the actual signing of tenancy agreements, all in a secure online environment.
The unique selling point of RealEzy lies in its innovative approach towards rentals. By forgoing the traditional security deposits, tenants can achieve savings of up to 80%.
Likewise, landlords, in the absence of agency commissions, can save up to 50% on costs, supplemented by a specially tailored insurance plan from Allianz.
Moreover, RealEzy’s Managed Services is set to play an instrumental role in assisting both parties during tenancy, especially concerning household maintenance issues, albeit for a nominal service fee.
Since its soft launch in May, the platform has registered over 400 verified users.
Anthony Chai, CEO and Founder, emphasizes the rigorous verification processes undertaken to ensure authenticity and trust. Landlords’ property ownership credentials are verified before listing, while tenants undergo thorough background checks.
RealEzy’s inception is attributed to Anthony Chai, a former Singapore Air Force pilot and seasoned entrepreneur, alongside co-founders Tan Bien Kiat, ex-Chairman of Nasdaq-listed Pacific Internet, and Yeow Kwang Fei, a business magnate.
The trio, with their wealth of experience and entrepreneurial prowess, aim to change the dynamics of the rental market.
“We’re not your typical startup founders. We’ve pooled our expertise and vast networks to create RealEzy, complemented by a talented team of managers and operators who share our vision,” remarked Chai.
Developed entirely in-house, RealEzy’s tech platform exemplifies a seamless user experience characterized by intuitiveness and adaptability.
Available on both the Google Playstore and Apple store, the platform is poised to set new standards in tech-driven property rentals.