CirclePe Launches Exclusive Club for Zero Deposit Rentals

CirclePe, an innovative renting platform founded by IIT and IIM graduates, announced the launch of its exclusive CirclePe Club, aiming to help 10,000 tenants secure zero deposit rentals while providing landlords with Rs 100 crore in advance rent. By specializing in zero deposit rentals, CirclePe enables tenants to move into properties without the burden of security deposits for the first time.

CirclePe achieves this by paying the entire lease amount upfront to landlords and offering a company-backed guarantee for any potential damages. This model alleviates the need for landlords to request a deposit and allows tenants to move in seamlessly while continuing to pay rent monthly. The CirclePe Club is open to tenants who pass a trustworthiness check, fostering an elite community free from security deposit worries. This membership-based approach redefines the renting experience, ensuring landlords have peace of mind with verified, reliable tenants.

The process begins with tenants identifying a suitable home through a broker or online listing platform. After selecting a property, they complete a quick trustworthiness check on CirclePe's platform. Once approved, CirclePe invites the landlord to join the exclusive club, ensuring they receive nine months of advance rent along with a guarantee for potential damages. This efficient system allows tenants to transition into their new homes without the stress of a security deposit, while landlords benefit from advance rental payments and damage assurances.

By 2025, CirclePe aims to significantly scale its operations, targeting the onboarding of 10,000 tenants into zero deposit rentals and facilitating ?100 crore in advance rentals to landlords. Co-founder Mr. Navan Jaiswal remarked, “At CirclePe, we aim to remove the financial stress for reliable tenants, giving them the freedom to move into their desired homes without hefty security deposits. Landlords also benefit by receiving the entire rental amount upfront and a guarantee for potential damages. Our platform fosters trust between landlords and tenants while offering property management support through our partners if needed.”