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 Source: economictimes.indiatimes.com

Coliving spaces offer rent waiver, relaxed payment timeline

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CoHo has 3,000 beds spread over Delhi NCR, Bengaluru, and Chennai.Colive has given a 50% waiver for the June rent for those who have been laid off or are stuck in their hometowns, its CEO Suresh Rangarajan said. Nearly 400 residents have been given this waiver so far.Stanza Living has introduced some subsidies on the service component of the monthly rent package.At StayAbode, the average occupancy has been 95% over three years of its operations, falling to 73% in June. “Earlier, we were expecting the situation to improve by August, but now it doesn’t look like things will get better before December. Right now, the focus is on survival,” Chhajer said.Hence the decision to offer rent waivers and relax payment timelines. “If we can retain even some of the residents, that’s good for our business,” said Sikri of Zolostays.

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