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Nestaway offers vacant inventory at reduced charges for tenants

Press Trust of India  |  New Delhi 

Nestaway Technologies, which provides homes on rent, on Sunday said the company has cut rates and waive service charges totalling up to USD 1 million on its vacant inventories of over 10,000 units for tenants looking for hygienic space due to the spread of coronavirus disease.

"As cities after cities are going through near lock-down, the company intends to offer its inventory of 6000+ full houses and 4500+ private rooms across 19 cities to tenants - especially young professionals staying in PGs at preferential rates and under special terms until things return to normal," the company said in a statement.

Nestaway has committed up to USD 1 million in waived fees and service charges for new tenants moving to its homes during the novel coronavirus crisis, it added.

For social distancing, the company said it is necessary to stay in an independent house alone or alongside fewer inmates.

Amarendra Sahu, CEO & cofounder of Nestaway said the company has slashed one-time charges by a flat 50 per cent for everyone moving from a PG to our homes.

"If things worsen further, we will work with our owners to make it further affordable," he said.

Founded in 2015, Nestaway has more than 70,000 tenants, and 40,000 homes in their network. It has raised more than USD 100 million so far from investors including Tiger Global and Goldman Sachs.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, March 22 2020. 16:54 IST