Photo/IllutrationImage of a room provided by "Oyo Life" (Provided by Oyo Technology & Hospitality Japan)

The largest hotel chain Oyo in India is teaming with Yahoo Japan Corp. to launch a real-estate rental business in Japan, allowing would-be lodgers to complete all steps for moving in and out using an app.

The new business, named "Oyo Life," provides furnished rooms with home electrical appliances without the need for a deposit or key money.

The company rents rooms from real estate owners and then subleases them to users. As a result, the usual face-to-face procedures with agents are unnecessary.

Rent is between 100,000 yen ($898) and 150,000 yen for a single occupant, and includes utilities, Internet and cleaning expenses.

The minimum condition is living in the dwelling for one month, with one-month prior notice allowing users to leave the rooms at any time.

A trial stay up to three days is also available, targeting single Tokyoites in their 20s and 30s who may want to move swiftly between places.

The two companies are looking for lodgings with the aim of acquiring 1,000 rooms in areas mainly in Tokyo by the end of March.

The venture company Oyo was founded in 2013 by its chief executive officer, Ritesh Agarwal, when he was 19. The company grew rapidly as a hotel chain with reasonable rates that analyzes customer demand data using AI and changes room rates in real time.

Although it has only been five years since the company’s founding, Oyo has been operating more than 8,500 hotels in eight countries, including India and China. It has also received funding from part of a “10 trillion yen fund,” an investment project called “SoftBank Vision Fund" (SVF) initiated by telecom giant SoftBank Group Corp.