Rental company Nestaway slashes charges on homes for PG residents

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

creative concept, Hand holding home (Getty Images/iStockphoto)

Online home rental company Nestaway Technologies on Monday said it has slashed its one-time charge by a flat 50 % 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.

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.