Bangalore startup offers affordable, furnished residences
By Chandralekha Mukerji, ET Bureau | 9 Sep, 2015, 04.19PM IST
By Chandralekha Mukerji, ET Bureau | 9 Sep, 2015, 04.19PM IST
BENGALURU: Although officially a non-metro, Bengaluru is perceived to be `the city to be in' if you are an IT executive or an upcoming entrepreneur. It appeals to the young and the upwardly moving. However, the city with year-round pleasant weather is rather cold towards tenants, especially those who are single. Most house owners demand a minimum of 10 month's security deposit.
Nestaway .com, a startup based in the city is trying to fill this gap. A market place for rented accommodation, they aim to provide affordable and fully-furnished shared homes for as low as `6,000 per month with only two months' rent as security deposit.
For the tenant
If you are looking for a shared accommodation in a good locality, NestAway homes are a steal not only in terms of cost but convenience. There are studio apartment options too, in case you do not want flat-mates and are looking for more privacy .
All you have to do is register yourself at their website, which has a catalogue of properties up for rent categorized on the basis of locality and gender. If you like a house you can schedule a visit according to your convenience. Booking is done online as well.
In terms of cost, not just low deposits, these are fully-furnished flats with beds with mattresses, sofa sets, wardrobes, TV with DTH connection, internet connection, geyser, air conditioner and a fully equipped kitchen with gas, fridge, microwave, cookware and even crockery. You can practically just walk in with your suitcase.
NestAway homes also have shorter rent agreements. Most house owners would want you to sign an agreement of at least 11 months, which can be a problem in a shared accommodation where all members might not have same plan.
NestAway contracts are not only for six months, but in case a member leaves midway , it is the company's responsibility to find a replacement. For the party moving out before six months, there is a penalty of a month worth of rent. "This is to discourage very short-term engagements and make the owners feel more comfortable.But it's flexible as the owner always has the discretion of waiving it off," says Amarendra Sahu, Co-founder, NestAway.com. The penalty is also waived if you are moving to another NestAway home in a different city or locality. "For such cases we even offer you free of cost relocation," says Sahu. Apart from Bengaluru, the company has properties in Gurgaon and has soft launched in Pune and Hyderabad.
For the owners
It is equally hassle-free for the house owner.All you have to do is list your property and quote a price. Everything else--from showing the property to tenants, closing agreements, rent collection to exit inspection--is taken care of by NestAway . Regular maintenance and repairs are also the company's responsibility . The company guarantees break-free occupancy . "For any damage, we provide them a third party damage insurance of up to Re 1 crore that covers both the structure and content," says Sahu.NestAway charges a monthly commission, around 15 per cent of the rent paid.
Safety Ensured
House is the single largest possession for the owners and security is major issue. "In fact, uncertainty and hesitation of owners towards renting their homes to singles was one of the biggest operational challenge the company faced," says Sahu. For tenants, sharing a flat with complete strangers may be scary. The company therefore, vets both parties as well as organized face-to-face meeting, if required. The tenant as well as the owner's documents needs to be uploaded online which is available for inspection to both.
Nestaway .com, a startup based in the city is trying to fill this gap. A market place for rented accommodation, they aim to provide affordable and fully-furnished shared homes for as low as `6,000 per month with only two months' rent as security deposit.
For the tenant
If you are looking for a shared accommodation in a good locality, NestAway homes are a steal not only in terms of cost but convenience. There are studio apartment options too, in case you do not want flat-mates and are looking for more privacy .
All you have to do is register yourself at their website, which has a catalogue of properties up for rent categorized on the basis of locality and gender. If you like a house you can schedule a visit according to your convenience. Booking is done online as well.
In terms of cost, not just low deposits, these are fully-furnished flats with beds with mattresses, sofa sets, wardrobes, TV with DTH connection, internet connection, geyser, air conditioner and a fully equipped kitchen with gas, fridge, microwave, cookware and even crockery. You can practically just walk in with your suitcase.
NestAway homes also have shorter rent agreements. Most house owners would want you to sign an agreement of at least 11 months, which can be a problem in a shared accommodation where all members might not have same plan.
NestAway contracts are not only for six months, but in case a member leaves midway , it is the company's responsibility to find a replacement. For the party moving out before six months, there is a penalty of a month worth of rent. "This is to discourage very short-term engagements and make the owners feel more comfortable.But it's flexible as the owner always has the discretion of waiving it off," says Amarendra Sahu, Co-founder, NestAway.com. The penalty is also waived if you are moving to another NestAway home in a different city or locality. "For such cases we even offer you free of cost relocation," says Sahu. Apart from Bengaluru, the company has properties in Gurgaon and has soft launched in Pune and Hyderabad.
For the owners
It is equally hassle-free for the house owner.All you have to do is list your property and quote a price. Everything else--from showing the property to tenants, closing agreements, rent collection to exit inspection--is taken care of by NestAway . Regular maintenance and repairs are also the company's responsibility . The company guarantees break-free occupancy . "For any damage, we provide them a third party damage insurance of up to Re 1 crore that covers both the structure and content," says Sahu.NestAway charges a monthly commission, around 15 per cent of the rent paid.
Safety Ensured
House is the single largest possession for the owners and security is major issue. "In fact, uncertainty and hesitation of owners towards renting their homes to singles was one of the biggest operational challenge the company faced," says Sahu. For tenants, sharing a flat with complete strangers may be scary. The company therefore, vets both parties as well as organized face-to-face meeting, if required. The tenant as well as the owner's documents needs to be uploaded online which is available for inspection to both.
