Rentable. Meet Co-founder Yevhen Parokhod: accelerating the UAE’s auto lease achievement

As a co-founder of Renty, Yevhen Parokhod. ae has been instrumental in developing the cutting-edge online app for car rentals in the UAE. Yevhen brings beneficial knowledge and insight to the vanguard with more than five years of experience in the car rental economy. We’ll discuss the difficulties faced by the system’s founding, the bank’s answer to the COVID-19 pandemic, and their commitment to top-notch customer service in this interview with Yevhen.

You have co-founded a reliable virtual car rental service in Dubai and are an knowledgeable practitioner in the luxury vehicle lease industry. What makes one of the most prosperous businesses in this sector?

Yevgen: Despite having its own unique challenges, operating a car hire company in the UAE is still governed by the same fundamental tenets. Our company’s expansion has been impacted by a number of important elements.

Firstly, our suffered staff is familiar with the ins and outs of running a business, dealing with authorities, and navigating UAE regulations.

Second, our marketing plan is effective. To be ahead of our companies and market trends, we are deeply knowledgeable about our specific customers.

Eventually, our country’s monetary situation favors us. Our company expands as more corporations enter the market and expands even more when visitors search for leisure. We have, in part, experienced outstanding growth over the past two times even after the COVID- 19 epidemic.

Interviewer: Dubai is renowned for its society of luxury automobiles. What distinguishes your luxury car rental experience from that of the higher end of the market, and how does Renty meet those needs?

Yevgen, you must look beyond automobile renting to truly understand what we’re all on. We examine localized norms, the auto-service sector, and even the more complex details of aircraft detailing. Everything we do is crucial to what we do. Knowing how to work with comprehensive and understanding your privileges is essential to avoid loss when driving luxury autos and dealing with high dangers.

What sets us apart is our sizing and leading position in the market. We’re part of a group of businesses working collectively, which lets us include better control over everything and give a genuinely distinct premium merchandise while making a gain.

Recently, we made a big splash by removing the payment necessity, which got our clientele really fascinated in our comfort car rental service. It’s just one of the ways we keep things fresh and exhilarating for them.

Interviewer: Renty. amplitude gained acceptance due to its suitable online car rental service. Could you communicate with us the code features and benefits of your virtual program that have contributed to its success?

Yevgen: When Renty. ae entered the UAE market, our purpose was clear: to create a luxury car hire platform unlike any other. We wanted things distinctive finally, and we’ve achieved that authenticity nowadays. Consequently, what were the things we set out to accomplish?

Over the past 5 ages, our group has been fully committed to improving assistance norms and elevating the entire user encounter. We put a lot of effort into thoroughly selecting the best car rental companies, with a solid target on those offering top- cut support and value. Our aim was to establish robust cooperation requirements to ensure our platform delivers exceptional service to our customers.

Today, Renty. ae continues to prioritize a wide selection of cars in excellent condition. We’ve worked hard to secure the best terms from insurance companies, all while providing fantastic value for money in our car rentals.

Interviewer: What is the most unforgettable story from your experience in the car rental market in Dubai?

Yevgen: Oh, working in the service industry, we come across so many amusing situations with our clients every day. One of my favorite stories involves a client who claimed they were driving at 40 km per hour, but somehow ended up doing a wild 360- degree turn and landing in a flower bed. Can you believe it?

But that’s not the end of the story! When we showed them the evidence from our application, including the car’s movements and recorded speed, their story completely changed. Turns out they had misread the speedometer and thought they were going slow when they were going 140 km per hour!

Another time, a client rented a car to go shopping at the mall and later could n’t find it in the parking lot. After searching for 5 hours, they were completely baffled and exhausted. With the help of mall security, we eventually found the car and calmed our client.

Interviewer: As a co- founder, can you discuss the current challenges you have faced in creating the platform and how you overcame them to achieve success in the competitive car rental industry?

Yevgen: Our company has been in the car rental industry for over 5 years, and our top management has more than 10 years of experience in this field. But, honestly, I do n’t consider us a fully successful and established company just yet. What does success really mean? Are there specific criteria to measure it?

We’ve undoubtedly achieved significant results and made a strong mark in the car rental market. However, we ca n’t afford to rest on our laurels. As our company grows, we face new and unique challenges at every step. But we’re determined to tackle these hurdles and find solutions as we continue to develop and improve.

Here are two major challenges:

When we first launched the platform, our main challenge was getting people to take us seriously in the market. Many doubted our model and laughed at the idea that it could work. Cooperation was hard to come by, and it took us two years of relentless effort to break into the market. But these challenges served as strong motivation for us to demonstrate the true capabilities of our team!

Managing the car rental business turned out to be incredibly complex. We had to handle many different local complexities and specific details of the business market. There were moments when I considered giving up and moving on. Then, I asked myself a critical question: If it’s this tough, who else could replicate what we’ve accomplished? The answer was crystal clear—nobody. And you know they say: ‘Every man is the architect of his own fortune.’

Interviewer: The COVID- 19 pandemic has had a significant impact on the travel and hospitality industry. How did Renty. ae adapt and overcome these challenges? Did you implement any new strategies or services to meet the changing needs of customers?

Yevgen: COVID- 19 could have been a real downer for our business, as we were just starting to make money in January 2020 when the pandemic hit a month later.

While others were waiting for borders to open, we were busy improving the platform. During the pandemic, we worked closely with developers and made lots of updates to boost performance. We saw it as our opportunity to become a leader while the market was at a standstill. It meant spending a lot of money, but we were confident that when things opened up again, everyone would know about the Renty team.

When tourists started coming back, we were more than ready. Our platform had great features and solutions for every client. We took off in a big way, and the team’s energy was incredible.

I ca n’t remember all the products and innovations we introduced, but there were at least 10 of them. There’s no magic formula for beating COVID- 19. Our secret was simple: while most were waiting, we were working hard and preparing for the moment the world would start moving again.

Interviewer: Customer service is vital in the service industry. How does your rental platform prioritize customer satisfaction, and what measures do you take to ensure a positive experience for your clients?

Yevgen: The marketplace is like a bridge between clients and car rental companies. We must deal with the police and other authorities because our activities are closely regulated by laws.

Sometimes, we end up being the peacemakers in disputes, especially when it comes to fines, accidents, and deposit refunds. These are the things that often leave clients dissatisfied and give a negative vibe about our service.

That’s why we’re always standing up for our clients ‘rights and making sure companies stick to the rules. Dealing with the police, insurance folks, sound of text, and others is all in a day’s work. We make sure the cars are delivered on time, check their condition and cleanliness, and see that they match what our clients want( like a specific car in the right color, delivered to the right place, and so on). We also double- check all the paperwork and payments.

It’s a constant journey for us to improve our service and grow as a team. We focus on building a strong team, organizing regular trainings, and fine- tuning our processes. It’s an ongoing adventure with no end.

Interviewer: Tell us about the history of Renty. ae. What inspired you to create a car rental service in Dubai?

Yevgen: Well, I realized that the competition was intense, and the car rental process had so many issues. The pricing lacked transparency, online catalogs were subpar, and there were no guarantees that you’d get the exact car you ordered. On top of that, there were risks of ending up with a technically faulty car, and the list of problems seemed never- ending. What surprised me the most was that rental companies seemed content with the status quo, they had no interest in changing anything. That’s when I saw an opportunity.

I knew it was time to create a product that would stand out, one that other companies would want to follow. I wanted to provide customers with a rental service they’d truly enjoy. While not many people supported my idea initially and preferred to stick with their old ways, I remained committed to my vision. And I can confidently say that Renty has brought about a significant change in the car rental industry in the UAE over the past 5 years.

Interviewer: How does Renty. ae provide a secure and user- friendly online booking process? Are there any specific measures you have taken to protect customers ‘personal information and payment details?

Yevgen: You know, we use modern encryption technologies to protect personal data and payment information of our customers. We make sure to take all the necessary steps to keep our customers ‘data confidential, in line with the legal requirements.

Interviewer: Online reviews and ratings significantly influence customers ‘decisions. How does Renty. ae manage customer reviews and utilize them to improve its online services?

Yevgen: We carefully study the feedback of our customers and use it to improve our services. We are open to criticism and are always ready to improve our service to meet the needs of our customers.

Interviewer: Looking ahead, what are your plans and ambitions for the future of Renty? Are there any new services or expansions of the business you can share with us?

Yevgen: We plan to continue to develop our platform and expand our services. One of our plans is to open a new office in Abu Dhabi. And we also plan to introduce additional services to make the rental process even more convenient for our customers.