Ekaya was launched in 2014 as a result of a growing need and gap in the market for a technologically driven solution provider which would create a healthy bridge between property owners and tenants. The property market is without doubt one of the most profitable, competitive and risky in South Africa. The return on investment that properties give is hard to match, the hunt for new property investment opportunities also never ends. The risk of getting caught in a bad business deal is also ever-present. This risk is even greater in the property rental business where the owner returns ownership of the property but collects rental fees from the tenant.
Borrowing from the concept that online dating websites use, Ekaya’s app is meant to enable prospective tenants find the ideal property and property owners to find a better group of tenants. Tenants in this regard create their own online profiles. Tenants use the platform to supply references, credit checks, earning power and criminal records to the landlord.
This unique platform streamlines correspondence with potential tenants for landlords. Communication with applicants only starts once they have been vetted. This screening process means instead of landlords receiving a multitude of calls especially from agents, landlords will instead look at a twitter like feed indicating green risk, orange risk, red risk which all provide potential risk profile of every tenant. Ekaya also allows landlords or individuals who wish to rent out property to search within numerous parameters of preference, e.g age, gender, social habits.
This technology start-up is contributing to a safe and secure property market in South Africa.