Eqaro Guarantees partners with Nestaway Technologies to offer rental bonds

by Shrutee K

Mumbai/Bengaluru, April, 2022: Eqaro Guarantees, a financial institution that provides surety solutions along with Nestaway Technologies, India's fastest growing "Managed Home Rental Network" have announced a disruptive partnership; wherein, Eqaro Guarantees will issue rental bonds to landlords on behalf of tenants at Nestaway Technologies. The initiative between both companies will target the entire tenant community including families, working professionals, and singles.

This facility will initially be made available in Bangalore, Mumbai, and NCR, followed by other cities where Nestaway technologies are present. With this partnership, the tenants would have options so that they could choose according to their budget and personal preferences. There will not be any burden on the landlords to look for credit verified tenants, conduct background checks, and chase tenants to pay their dues on time.

Mr. Pankaj Bhansali, COO & CBO, Eqaro Guarantees said, “We are excited with our partnership with Nestaway Technologies. Work from home has become a permanent trend in some segments increasing the need for hassle tenancies. This alliance will make homes accessible to prospective tenants without the need for any security deposit while at the same time providing landlords with credit verified and assessed tenants. Rental bonds are superior to the traditional cash deposits and help tenants carry forward the benefits of a good tenancy track record to their subsequent tenancies.”

Mr. Amarendra Sahu, CEO, Nestaway Technologies said, “As leaders of the charge to strategically bring order to an unorganized residential rental market, we look at this partnership as another step in that direction. We hope it will simplify landlord-tenant relationships and further boost the quality of our customer experience.”

About Eqaro Guarantees: Eqaro Guarantees offers financial security in the form of guarantee and surety to project owners, supplier principals, landlords, and brand owners alike, protecting them from financial exposure to their contractors, clients, dealers, tenants, or franchisees. The company, a pioneer in the field of surety in India, is focused on delivering creative and customized bonding solutions. Their strengths lie in expert underwriting & in-depth knowledge of the Indian infrastructure and financial services industry.  The company is backed by the financial strength and global expertise of Ion Insurance Company Inc (USA), Southern Pacific Insurance Corporation (USA) & Northern Light Surety Company SRL.

About Nestaway Technologies: Nestaway, founded in 2015, helps urban migrants overcome barriers and biases while searching for a rented home of their choice. Nestaway is India's fastest growing & largest managed rental player and has helped more than 2 lakh tenants find a home. Nestaway was founded by 4 friends - Amarendra Sahu, Jitendra Jagadev, Deepak Dhar, and Smruti Parida. The founders started Nestaway with their vision of helping young Indians find homes away from home & bridge the trust gap which exists between owners & tenants.