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CASE STUDIES
low satisfaction. Pre-identified breakers in the process of in the Co-Living rental segment
issues were listed and were decision making for their current such as Your-Space, CoHo and
given as options to respondents stay. This further substantiates Nestaway, Fella Homes, Ziffy
to choose the top four negative the argument that freedom has Homes, Stanza Living, etc.
attributes in their current stay; been given maximum priority Detailed data collection and
The options were: a)Issue while services the least and the analysis have been done for Your
created by society/neighbors same has become a major point Space, Coho, and Nestaway.
(including legal hassle); b) of concern in the current stay of These startups have different
Cleaning and hygiene (Garbage the respondents. business models but all of them
cleaning, housekeeping, etc.); c) Figure 1 depicts the percentage have a common goal which is
Maintenance & repairing; d)Food of monthly salary spent by creating affordable, serviced,
quality; e)Price; f)Issue created respondents on house rent and lively rental stock and
by the landlord (including legal (conventional rental formats) providing co-living experience.
hassle); g)Restriction (admission currently and willingness to Based on the working model
restriction, curfew timing, pay the same in the future for they can be divided into two
etc.); h) Purchase of white a serviced apartment that is categories viz. service provider
goods; i)Safety; j)Location; k) situated in a preferable location and aggregator. The service
Internet; and l)Others. Among and without strict restriction provider model provides space
these issues, the top four were: policy. and service to the tenants while
issues created by building the aggregator model only
society or neighbor; hygiene; It is evident that people are provides a platform with a
maintenance & repairing; and willing to pay more for a serviced hassle-free renting experience
food quality respectively while apartment in a preferable for both tenants and landlords.
restriction; capital purchase; location with no discriminatory While Your Space and Coho are
safety; location, etc. are placed clause. The mean value of the service providers, Nestaway
at the bottom of the list. From percentage of salary spent operates as an aggregator.
the above findings, it is inferred on current rent is 22%, while Service Provider Model: Your
that cleaning, maintenance, and the willingness to spend for a Space
food are prime issues in their serviced apartment is 29%.
current stay in conventional Characteristics of Co-living Your Space business model is
rental format. For choosing Spaces: Supply Side Analysis more of a modern-day hostel
current accommodation, There are few companies than of serviced apartment or
respondents placed maximum currently operating in Delhi co-living space. They take the
stress on freedom (no admission National Capital Region (NCR) property in a long-term lease
restriction and curfew timings)
and less on service. Hence Figure 1: Percentage of current rent vs. Percentage of potential rent for a preferred unit
currently, though they are not w.r.t the respondent’s monthly income
facing many freedom issues 60
apart from neighbors creating 40
problems, they are facing severe Percentage 20 0
service issues. About 90 – 95 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 49 52 55 58 61 64 67 70 73 76 79 82 85 88 91 94 97 100 103
% of respondents considered Respondents
price and restriction over guest % spent on rent % Change for serviced
admission as the major deal-
Source: Primary Survey
October 2020 Volume 21 No. 2-SHELTER 81
