Over 8 million Indians migrate from small towns to major cities in search of better job opportunities, higher education, and a better life on an annual basis. Cities like Mumbai, Bengaluru, and Delhi welcome thousands of young professionals each month, all chasing dreams under rented roofs.
But behind this hopeful migration lies an overlooked financial truth rent.
Rent accounts for up to 30 to 40% of a salaried individual’s income, yet it has never been recognized by the financial system, leaving it out of one’s credit profile entirely. While EMIs and credit card repayments are religiously recorded and rewarded, regular rent payments – one of the largest monthly expenses are largely ignored by the financial system.
The Birth of a Bold Idea:
Enter Sarika Shetty, who headed a luxury auto dealership in Mumbai. She found herself on the other end of this injustice. Despite her stable income, strong credit history, and on time rent and loan repayments, she was denied a home loan simply because her rent didn’t count towards her credit score.
This irony was not just personal, it was systemic. And Sarika wasn’t going to let it go. She partnered with EY-Parthenon and, through a year-long study across banks, landlords, brokers, and tenants, discovered that this wasn’t just a gap. It was a global blind spot. That’s when RentenPe was born with a mission to make rent count.
India’s First Rent Credit Score & Residence Card :
RentenPe is India’s pioneering platform to revolutionize how rent is perceived and used in personal finance. It introduces two breakthrough innovations:
Rent Credit Score (R Score™) :
A tenant’s financial ally, this score is built using cutting-edge algorithms, analyzing rent payment consistency, tenant profile, and more. The more you engage and pay rent through the RentenPe app, the stronger your R Score™ becomes. Thus paving the way for:
- Better rental deals
- Loans for security deposits and even rent payments
- Documentation-free access to loans for rent and security deposits
- Easy access to home loans for those looking to buy a house
- A chance to win up to 1 month’s rent free.
Residence Card (R Card™) :
Think of it as your rental passport, a verified digital ID that includes your R Score™. It offers access to better rental deals, tenant verification, early rent facilities for landlords, and seamless rental processes.
A Systemic Shift in Credit Calculation :
Until now, rent had no place in India’s credit infrastructure. But RentenPe has worked with banks to change that. With growing traction and successful integration, tenants with consistent rent payment history would be eligible for home loans, a dream that was once often deferred due to missing parameters.
In fact, after staying engaged on the app for 18–24 months, users can reach an R Score™ of 790, making them eligible for home loans.
Tech Meets Purpose :
Sarika built a robust tech team from IIT Bombay and crafted an intuitive app that allows tenants to:
- Pay rent via UPI, credit card, net banking, and debit cards currently the lowest in terms of credit card fees
- Track their R Score™
- Win cash rewards for timely rent payment
- Access emergency loans for rent or security deposit at low interest rates
With incentives like a chance to win up to one month’s free rent after 10 consistent payments, RentenPe isn’t just useful, it’s making rent payment rewarding.
he Market Pulse :
Focused on cities with dense rental populations Mumbai, Pune, Bengaluru (and soon pan India) RentenPe has received an amazing response. Working professionals across these cities are making rent payments through the RentenPe app and building their R Score™, paving the way to future home ownership.
Tenants and landlords have warmly welcomed the tool, appreciating how verified tenant data reduces friction and risk. The app doesn’t compete with brokers, it empowers them.
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Fueling the Vision:
With support from the Model Tenancy Act announced in June 2021, and recent global trends (including former Canadian Prime Minister Justin Trudeau’s move to include rent in credit scoring), RentenPe stands at the forefront of a global movement. As countries worldwide begin to recognize the importance of rent in financial assessments, RentenPe is leading the charge in India, empowering tenants and reshaping the way rental payments are viewed. The platform’s innovation is aligned with a global shift towards more inclusive and accurate credit scoring systems.
Conclusion: More Than Just an App — A Financial Revolution :
RentenPe is not merely another fintech startup. It is a correction to a decades-old oversight. A celebration of financial discipline. A tool that turns renters into credit-worthy aspirants. And a company built on audacity, empathy, and undeniable logic.
Because in Sarika’s words :
“Rent is not just a payment. It’s a commitment. And commitment deserves recognition.”
