Nestaway, a startup by four Odia engineers, promises to make the house hunting experience of single men and women better in India. And the founders are – Amarendra Sahu, Jitendra Jagadev, Smruti Parida and Deepak Dhar.
Finding a clean, safe and accessible place to live has always been an uphill task for singles in India, especially women. Now, tech start-ups are coming to the rescue. Nestaway is one such company.
Founded in January 2015 by four graduates of the National Institute of Technology, it is an online marketplace for shared home rentals for singles in Bangalore, Delhi, Gurgaon, Pune, Hyderabad, Mumbai, Noida, Ghaziabad, and Faridabad. It has given birth to the concept of half-BHKs – a bedroom shared by two people, and a common space that includes a living room and a kitchen.
“We go beyond providing information about houses in different localities. We negotiate the terms and conditions and ready the rent documents too. Most of our clients include those prepared to stay in shared accommodations,” said NestAways chief executive officer Amarendra Sahoo, who is also one of the four founders, all alumni of National Institute of Technology Karnataka, Surathkal.
“I believe the most important aspect of our service is that we eliminate biases against providing houses to singles. Second, we only take two-month rent as initial deposit,” said Smruti Ranjan Parida, co-founder and CTO of NestAway. Besides, all utility bills like for water, electricity, cooking gas and cable are combined with the rent bill and paid online.
The NestAway builds the trust between the tenants and the landlords. The startup already has 6,000 houses on its rolls and successfully arranged houses for 22,000 people. What has endeared them to the houseowners is that their promise to pay the rent in case of default by the tenants and providing them a Rs 1 crore insurance, for which they have tied up with Tata AIG, in case there is any damage to the house structure.