CirclePe, an innovative rental platform founded by IIT and IIM alumni, has announced the launch of the exclusive CirclePe Club. It aims to help 10,000 tenants secure zero-deposit rents and provide landlords with up to Rs 100 million in advance rent. CirclePe specializes in zero deposit rentals, allowing tenants to move into a property for the first time without having to pay a deposit.
CirclePe accomplishes this by prepaying the entire lease fee to the landlord and providing a company-backed guarantee against potential damages. This model reduces the need for landlords to require a security deposit and allows tenants to seamlessly move in while continuing to pay their monthly rent. CirclePe Club accepts tenants who pass authenticity checks and fosters an elite community with no security deposit concerns. This membership-based approach redefines the rental experience, giving landlords peace of mind with verified and trusted tenants.
The process begins with a tenant identifying a suitable home through a broker or online property platform. After selecting a property, complete a quick authenticity check on CirclePe’s platform. Once approved, CirclePe invites the landlord to an exclusive club and guarantees nine months’ rent in advance, along with insurance against potential damages. This efficient system allows tenants to transition into a new home without the stress of a security deposit, while landlords benefit from prepaid rent and damage protection.
By 2025, CirclePe aims to significantly expand its business, enroll 10,000 tenants in zero-deposit rentals, and facilitate $100 million in advances to landlords. Co-founder Navan Jaiswal said: “At CirclePe, we aim to alleviate the financial stress of trusted tenants and give them the freedom to move into the home of their choice without the need for a large deposit. You also have the benefit of receiving protection against damages. Our platform fosters trust between landlords and tenants and provides property management support through our partners when needed.”
