Oyo home partnership is a scam. Owner needs help
I partnered with Oyo last year in August as they kept bothering me regarding my vacant flat in shimla. After about 7 calls from them, i agreed to meet the Businesses Development Manager to discuss financials. When me met, he lured me with a highly inflated revenue sheet which promised me about 8-9 lakh (net income) as an owner for my 3 BHK flat. The fool that i was, i fell for it and registered a total of 3 apartments (8 bedrooms) with Oyo. According to the agreement Oyo WAS SUPPOSED TO give me 70% of the revenue if i furnished the 3 homes up to "oyo standards". I invested about 6 lakh and got them ready as Oyo demanded, this includes a soft loan Oyo extended to me for furnishing. Under the guise of this loan they supplied me inferior furniture and took away whatever little income i could make as recovery. Its has been more than 6 months now and i am still to recover even half of my 6 lakh investment from all 3 homes (according to their BDMs sheet i was to earn around 12 lakhs in this period from all 3 properties). Here is the truth- average income for the home owner is only around 35% of total sales. Instead of earning any money, owner is still paying EMIs to Oyo for furniture. They are selling my luxury home at dirt cheap rates , sometimes as low as 600rs per room, out of which i only get a minority share of even 200rs sometimes. Best revenue i got was 57% on Christmas eve when rooms rates were unusually high. On top of all that the Oyo operations and management is so poor that i have to check in and check out the guests myself , taking care of their every need. While the Oyo captain or Oyo property manager is not answering any calls by guest for hours..... Dear Sir(s), Respected practitioners of Law, i know this is a really long question but i would be extremely indebted to you if anyone can tell me how to proceed against Oyo which has a 2 year contract ( till December 2019) with me ? I wat to exit this partnership and i want to expose oyo, so that no other gullible home owner falls into Oyo's trap again.
Thanks and regards.
Abhishek Sharma