Co-living players eye corporate sector with hybrid accommodation models

With work from home becoming the new normal after the Covid-19 outbreak, co-living companies are coming up with hybrid models eyeing corporate clients. Under this, they are looking at offering coworking along with co-living, by providing inmates with working space along with facilities like conference rooms, desks for work and dependable high speed internet.
 

Bengaluru-based co-living player Guesture, for example, is looking at rolling out work-from-home development centres where corporate employees can work and live. The project, which will be launched by end of July, will have dedicated floors for each company.
 

“Corporates need a solution from a business continuity perspective as there are several employees who are not traceable from remote locations all time because of poor internet connectivity and power. Several employers are also afraid to open offices fearing lawsuits if their employees contact the disease,” says Sriram Chitturi, founder of Guesture.
 

The company is in talks with players in the IT, FMCG and start-ups to provide them with such tailor-made spaces.

Rather than having a distributed workforce delivering from home, it will be advantageous to have WFH development centres. This will ensure data security, confidentiality, better control over delivery due to 24/7 power and dependable high speed internet, he explains.
 

With several areas in containment, a lot of employees are also not able to travel to offices from these red zones. Nexus Venture Partners-backed Zolostays is also coming up with custom-made properties for corporates which can host their employees for uninterrupted business.

The company has identified 15 of its properties in Bengaluru, Chennai and Noida to turn them into dedicated co-living spaces, where employees can stay and work. This facility would be availed by 12 companies in sectors such as BFSI and IT. These buildings will have a conference room, a common area with work desks and office level wifi structure for those staying in these properties.
 

“We will also be offering infrastructure to build security of networks, especially for clients in IT services,” said Nikhil Sikri, co-founder and CEO of Zolostays. Charges per room would be anywhere between Rs 12,000-22,000 a month, he added.
 

Zolostays is also rolling out an uber-premium brand extension called Zolo Red Carpet by next month, for those who want a complete lifestyle oriented living.

These properties will be first launched in Bengaluru and Chennai, and the company is eyeing 20 per cent of revenue from this portfolio in the next two years. Costing Rs 15,000-Rs 35,000 (per person per month), they will have facilities such as fitness trainers, wellness studios, all-day in-house cafes, workspaces, and concierge services.
 

As Covid-19 cases surge across the country, a NoBroker survey has revealed that 70 per cent of the tenants, who were earlier living in PGs, are now looking to move to shared houses and co-living spaces. One of the prime reason behind this, the survey said, the most of these tenants do not find their current accommodation feasible for WFH.
 

According to Oyo Life, the co-living arm of Oyo, many corporates are willing to sponsor stays for their employees so that they can live closer to the office under a safe and hygienic setup. “We expect this trend to continue,” said a company spokesperson.