Rentify
Renting is an activity done for acquiring or taking possession of things(Apartement, tools, machinery etc.) from the owner in return for the payment made for a specific period of time. There was no common place where you could find all the things you wanted to rent out or borrow at the
2025-06-28 16:28:57 - Adil Khan
Rentify
Project Area of Specialization Shared EconomyProject SummaryRenting is an activity done for acquiring or taking possession of things(Apartement, tools, machinery etc.) from the owner in return for the payment made for a specific period of time.
There was no common place where you could find all the things you wanted to rent out or borrow at the moment. Observing this problem, We decided to create a common platform where these activities could be carried out, thus “Rentify” came into the picture.
We are going to make a rental application in which we will integrate the functionality that helps finding a suitable item or product within your pocket.
The inspection team first verifies all the things then the product will be handed over to the tenants. The owner can easily rent anything just by using this application. Online payment allows secure and ease to the customer to pay their rent. Many people don’t like filling out forms so the form will be digitised.
This application has a great scope of growth and high likelihood of becoming a competitive service business in the market.
Project ObjectivesRentify aims to
- Deliver our services to people who carry out renting activities frequently or on demand. Thus our audience is heterogeneous in nature, which could be anyone from a school boy to a technician.
- Provide people a stable and secure platform to take anything on rent that they need for their use.
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Facilitate lower-middle class who at times require the use of high quality assets but do not have the means to finance such products. It will not only provide enrichment and value to their lives and households, but also fill in the void that exists in the socio-economic realities of the Pakistani middle class.
We initially planned to use mobile application technology for realising our business idea but depending on the situation we might also use web application technology in future to facilitate clients.
We have used Flutter framework for the development of our appication.
Our system is composed of two different application,
- Rental Platform : Where people can rent and borrow things.
- Inpection Team: Responisble for providing smooth user experience, they are basically QC team that improves, monitors business processes ie, User and Product verification.
Below is the high level architecture of our system.
Rentify as an business application provides benefits such as,
- Wealth Creation : Since this applcation is specifically for renting, people may establish their own renting businesses under our application.
- Improves Living Standards : The major economic challenges facing Pakistan are rising high prices of everything. In Pakistan half of the population belongs to the middle class who cannot buy expensive things and they have been facing many problems buying new things in less amounts.
People can use things on rent at less prices in order to fulfil their needs. The rental application will be used to easily allow people to use items on rent which in turn will save time and cost and most importantly raise their living standards.
- On Demand Servce : Since every product and user is pre-verified, thus it allows users to borrow things on demand without having to go through rigorous documentaion/verification process.
Since our application using third party services, costing can vary depending on the scale of activities performed. We currently are using,
Firebase services: It provides us the database and other backend services which enables our application to carry out operations.
Google map api: It provides us the capability to locate renter's loaction, by which borrower can pickup items from.
Final Deliverable of the Project Software SystemCore Industry ITOther IndustriesCore Technology Shared EconomyOther TechnologiesSustainable Development Goals Decent Work and Economic Growth, Reduced InequalityRequired Resources| Item Name | Type | No. of Units | Per Unit Cost (in Rs) | Total (in Rs) |
|---|---|---|---|---|
| Total in (Rs) | 70000 | |||
| Operating expenses | Miscellaneous | 5 | 500 | 2500 |
| Licensing | Miscellaneous | 1 | 7500 | 7500 |
| Company Logo | Equipment | 1 | 5000 | 5000 |
| Office Stationary | Equipment | 1 | 10000 | 10000 |
| Office Rent | Equipment | 1 | 40000 | 40000 |
| Utilities | Equipment | 1 | 5000 | 5000 |