The present generation is the era of the millennials where they are looking out cost-cutting ways to live life and also live it interestingly. Several co living spaces offer a shared living experience, and that has undoubtedly revolutionized the way people are living as of now.
Thus, with a broad market, several companies have tapped into the market and built up some form of recognition for themselves.
Hence, to offer a unique way to live, stay abode comes into the picture with its inception on 2016, the founder, Devashish Dalmiya started the company all through an idea that sparked within him where he stayed in several hostels and other places through Europe.
The inception of Stay abode
As discussed earlier, the company was started solely on the idea of providing affordable living spaces for the millennials that are moving into the city. Where the concept of co-living is to share it with someone you know, stay abode offered a unique solution where it provides a hotel-like experience. Also, other activities and community lounges are making it more like a hotel than a co-living space.
During the time of inception, getting a deal with the landlords was surely a hurdle, says Dalmiya. But once they saw the return on their investment, they happily agreed to offer something better and more significant.
The need for Stay abode in the country
The idea of co-living space in the cities of Bangalore, Hyderabad, Mumbai, and many such places has ideally boomed beyond expectation. Several millennials are looking forwards to get a proper stay but without shelling out much and having a peaceful venture in doing so. Stay abode is quite different from the rest as discussed earlier and also leases out the entire building from the terrace to the basement transforming it into a co-living space.
Following its strategy of providing a hotel-like stay but a co-living like atmosphere, they have tied up with other vendors to suffice for the amenities and other things that it has to offer. All the vendors are paid a percentage of the rent that is availed from one room.
As of now, the entire company has raised quite some number of investors and doing exceptionally well in dominating the market of co-living spaces and ensuring that it does so for a long time coming.
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