Proptech startup Crib, aimed at enhancing the living experience through the automation of business operations for tenants and owners, has come a long way in just two years of its inception. With a focus on empowering prospective tenants to make better-informed choices and landlords to stay ahead of the curve through efficient business operations, award-winning Crib has been bringing innovation and evolution to the project management space. In this exclusive interview with Torbit Realty, Crib Co-Founder, Sunny Garg talks about the proptech’s successful journey, its unique business model, and future growth plans. Excerpts ……. Vinod Behl.
What was the idea/vision behind launching Crib? How would you describe the journey so far and how do you look at the future roadmap?
Before starting Crib, we ran a co-living/hostel company named YourShell(acquired by Stanza Living) where we were managing 20 properties and 600 beds. While running that we realised that there is no property management software in India. All the communications and transactions are either done via calls or whatsapp which can easily be digitalised via tech. Therefore, we launched Crib which is nothing but a property management software.
The journey has been challenging as well as rewarding. Taking a property management app to local businesses who have never used tech was challenging but seeing how they get hooked to the app once they understand it, has been really rewarding. We have already been live across 1lakh+ beds that are managing 1200 crores of rentals. The future belongs to proptech and the future of proptech is Crib. I think that speaks for itself!
What is the business model of Crib and what’s its USP?
We operate as a SaaS-enabled marketplace, with our property management software serving as the foundation. On top of this software, we are developing marketplaces that cater to various needs. These include platforms for acquiring new tenants, facilitating credit options for both landlords and tenants and connecting landlords with a wide range of vendors.
Our unique selling proposition (USP) is straightforward: unlike other proptech companies, we do not engage in property leasing ourselves. Instead, we collaborate with existing landlords, avoiding the need to establish our own brand. While others may compete with established players, we are focused on uniting a collective force of existing landlords, bringing them together under the Crib umbrella.
How can prospective tenants equip themselves to make informed decisions? What do’s and don’ts they need to follow?
I have a straightforward piece of advice for tenants: avoid choosing brands that manage hundreds of properties, as these properties are typically overseen by employees. Instead, opt for owners who manage a smaller number of properties, as they have direct control and tend to prioritize the value of their tenants.
Furthermore, I strongly recommend getting everything, including all terms and conditions, in writing. Failure to handle these matters correctly can lead to chaos in the future. For this purpose, Crib app also comes handy, offering convenient features for managing and documenting such agreements.
How does Crib help tenants and landlords?
At Crib, we recognize that the process of finding the perfect home or tenant extends beyond mere bricks and mortar; it revolves around fostering meaningful connections. Our cutting-edge technology empowers landlords to effortlessly showcase their properties to a wide audience, while tenants can explore a diverse range of options tailored specifically to their preferences.
Unlike traditional renting platforms, we strive to cultivate a thriving community of entrepreneurs. CRIB serves as a catalyst for business growth by connecting aspiring entrepreneurs with landlords who provide ideal spaces for their ventures. Our dynamic ecosystem fosters collaboration and propels success.
Convenience is paramount with CRIB. Our user-friendly interface ensures seamless transactions, secure payments, and efficient communication channels between landlords and tenants. Whether it’s property searches, addressing concerns, or even initiating move-out notices, each step is simplified and transparent, ensuring a hassle-free experience for all parties involved.
Post-current round of funding, what are the business/growth plans of Crib?
Our primary operational hub is currently located in Bangalore. However, we have ambitious plans to expand further into already launched markets such as Hyderabad, Chennai, and Pune. Additionally, we aim to enter 20 new markets, including cities like Kota and Dehradun. Our clear target is to reach a milestone of 2 million beds while simultaneously launching new marketplaces to enhance our services. Furthermore, we are also considering the possibility of launching our operations in other countries, such as the UAE.
How do you see the proptech landscape transforming real estate and what kind of challenges and prospects do you foresee for proptech startups? How do you view government policies?
While sectors like edtech, fintech, and e-commerce have undergone significant transformations, proptech is an industry that is yet to experience disruption, and I firmly believe that the next 10 years will be pivotal for proptech in India.
The landscape of real estate will undergo a complete transformation. In the coming years, property viewing and booking will be seamlessly accomplished with just a click of a button. There are certainly challenges to overcome, such as the prevalence of cash transactions in the real estate sector. However, the government has been actively working towards digitalizing various processes, and with these efforts, we will be able to address and adapt to these challenges successfully.
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