Nestaway slashes charges on its homes for PG residents

Online home rental company Nestaway Technologies on Monday said it has slashed its one-time charge by a flat 50 per cent for everyone moving from a PG to its homes during the novel coronavirus (COVID-19) crisis.

The company intends to offer its inventory ? over 6,000 full houses and more than 4,500 private rooms across 19 cities in India to tenants -- especially young professionals staying in PGs at preferential rates and under special terms until things return to normal.

The company also announced up to $1 million in waived fees and service charges for new tenants moving to its homes.

"Young folks in PGs in cities are caught between a rock and a hard place during these times. On one hand, most of them are from small towns and can`t go back home as their homes may not have broadband to avail work from home," Amarendra Sahu, CEO and Cofounder of Nestaway, said in a statement.

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

Nestaway, unlike PGs, has its inventory of 1/2/3 BHK homes that offer tenants the choice to select either the entire house a private room in that house to rent at a fraction of the full house rent.

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Founded in 2015, Nestaway has also set up a webpage to help these people to find them a home.

Currently, Nestaway has more than 70,000 tenants, and 40,000 homes in 15 cities.