Technology Simplifies House Renting In Vietnam

By Thu Ngan
Vietnam News, Hanoi / Asia News Network

WWR Article Summary (tl;dr) Entrepreneur Cathy Thao Tran is bringing her version of airbnb to Vietnam.

Vietnam News, Hanoi / Asia News Network

“If you have never lost your deposit while renting a house, you have not grown up yet.”

When a young woman entrepreneur said this in jest on Shark Tank, the reality TV show for start-ups, audiences laughed but recognized she was telling it as it was: it is risky and not easy to rent a house in Vietnam.

For a long time the demand for rented houses and condos in cities has kept increasing, mostly from students who leave their hometown and move to cities for study.

Renting a house in cities has never been easy for students and other renters because of the high risk of losing one’s deposit or getting ripped off in the form of high rents.

Such problems could now become a thing of the past thanks to modern technologies as young entrepreneurs apply big data and use social media to create phone applications for house leasing services.

The young lady on Shark Tank is one such. Cathy Thao Tran was able to raise VND3.5 billion investment from the event. At the age of 27, she is the CEO and founder of a company that has an app called Ohana connecting hosts and renters.

“Home does not have to be a fixed geographic concept, it can be an emotional or spiritual state shared with great companions you meet along your life journeys,” she said.

Having lived abroad for 10 years and in various places like the US, Australia, Ha Noi, and HCM City, she came to realize the importance of one’s living space.

The idea of setting up such a service also came after she struggled to find a house when she came back to Vietnam.

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