Apologies for the late reply Ben. Thank you for taking the time to do so!
The solution I have been talking about isn’t for myself but for a client who has already had a bad experience unfortunately with a half-baked solution built on Magento 1.9.
I have been researching on potential solutions and one of the thoughts I had was that I could create this rental marketplace solution for my client on WordPress with WooCommerce + WCVendors Pro + WooCommerce Bookings + BuddyBoss (tight integration with BuddyPress for messaging etc) + build custom bits for the remaining features (security deposits, sms verification, geolocation based searching etc). Am I on the right track, especially with the WooCommerce + WCVendors Pro + BuddyBoss pairing?
I will investigate codeable.io.
Thank you again!
Sri