Student Housing and Coliving spaces: The Perfect Solution to Counter Expensive Rent Rates in the City

Published: 06th November 2020 06:06 PM  |   Last Updated: 06th November 2020 06:17 PM   |  A+A-

Student accommodation has typically been a shared living concept with dorms and multiple-occupancy rooms being the commonest forms of arrangements in most campus hostels. Similarly, sharing space in PGs, private hostels or even flats is the most preferred living arrangement by most migrants across the country (be they students or working professionals). Most people enter a shared arrangement not only to live with like-minded, friendly people and manage household work together but because it is a very economical living solution.

But the pandemic has, perhaps for the first time, created wariness for shared living arrangements. Does your PG in Delhi undertake stringent sanitation measures? Will living in college dorms mean little to no social distancing? Can you maintain high hygiene standards and manage without house help in an independent flat? Even as all types of rental accommodation come under scrutiny, shared accommodation still continues to be a preferred living option. Most people are unable to afford the exorbitant rents of a city like Bangalore, much less pay the hefty security deposits. Professionally managed accommodation (co-living and student housing) is the best formula for high quality, pocket-friendly living option.

Professionally managed accommodation operators like Stanza Living have over the last few years, become the frontrunners in creating adaptable and affordable housing solutions for young working professionals and students, that are reimagining the typical shared living experience. These managed accommodation options are safe, hygienic, present across prime locations, and of course competitively priced, which make them a worthwhile contender to the local, unorganized set-ups that consumers had to compromise with.

Resolving Housing Dilemma for the Youth

Single occupancy rents, while offering safety and privacy, are a burden on the pocket. This is especially valid in Tier-1 cities like Mumbai, Delhi, and Bangalore where apartment rates are beyond the financial scope of students. Moreover, these rents are continuously on rise, making it even more difficult for students and young working professionals to plan their accommodation and expenses. Managed accommodation operators have reimagined the very concept of shared living. They do indeed optimize real estate to drive better rates for consumers and better returns for partners, but not at the cost of your lifestyle needs. For example, you do not have to adjust to cramped rooms and lack of privacy, just because you opt for a multiple-occupancy room. Players have invested in created well-designed rooms that factor in important details like ample square feet area per person, distancing between furniture, etc. Also, they have various room types – single occupancy, double and triple occupancy – to choose from. You can thus enjoy privacy in your rooms, while common areas like entertainment lounges, dining spaces, gym, terrace, etc. are the shared spaces where you can meet and interact with people.

Many conventional renting arrangements also come with a strict lock-in period. The bigger the city, the bigger the deposit amount with almost no room for negotiation and no guarantee of the quality of lifestyle. Individuals who are just starting out are often not willing to lock the money down and thus opt for co-living spaces that have better financial structures and work with limited deposit rates, as opposed to market rates which can be as high as 10 months of security deposit.

Delivering High Quality, Cost-efficient Service Experience

Managed accommodation operators like Stanza Living have also avowed delivery of a hospitality-led experience and are adaptable to consumer needs. This creates a deep focus on quality, efficiency, and innovation to build high consumer value. Further, as the operator expands, the delivery of amenities and facilities – food, WiFi, laundry, housekeeping – at scale allows for better cost optimization, resulting in pre-budgeted, lower monthly expenses. Also, sustainable sharing of cost for rent and utilities is usually a hassle in a conventional and conservative setup. Haggling with roommates over the cost division, managing separate utility bills, sometimes even paying extra is a common hindrance which one does not experience in professionally managed accommodations. To top it all off, managed accommodation facilities also take care of safety and security and monitor extreme hygiene and sanitation parameters. These fixed charges promote transparency via invoices, formal rent agreements, etc. which offer a clear picture to the customers. With a presence in over 14 cities and catering to 50,000+ students and working professionals, Stanza Living has built a scalable model that offers a highly enhanced alternative to the local, unorganized housing arrangements.

Upgrading with the Times

With the onset of the pandemic, managed accommodation providers have been among the fastest to adopt safety and hygiene measures. From following government advisories to overhauling entire operations to create fortified residences (focus on deep sanitization, health monitoring, protective equipment, restricted visitor entry), train staff in management and escalation procedures for any medical emergency and even develop contactless service delivery models; operators like Stanza Living have created benchmark standards. They are also able to drive improved, COVID-Combat-ready operations at scale. Hence, they are able to maintain high sanitization and hygiene standards as compared to any local PG whose operating costs get impacted severely in overhauling operations. Even picking a standalone flat is not as effective, considering you have to either manage all household work yourself while balancing online classes/work from home or, depend on cooks, house help, etc., thereby increasing your vulnerability of exposure to the virus.

The trifecta of better cost efficiencies, high-quality standards, and a consumer-centricity come together to create a proposition that is available to customers at a fraction of the conventional rental costs. Managed accommodation has become the branded new-age avatar of PGs in Delhi that will stem the tide of expensive renting in the city.

Disclaimer: This content is distributed by Stanza Living. No TNIE Group journalist is involved in the creation of this content.


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