Stayhook: A Specialized Brand Promising Quality Co-Living Spaces For Working Individuals And Families

Smit Pandya, Co-Founder & CFO, Shinendra Kumar, Co-Founder & CEOFinding long-term accommodation in India is not an easy task, as the whole structure is unorganized. With the influx of young individuals moving to urban cities for employment opportunities, finding an adequate place of accommodation has always been a complex task, especially for single individuals.

Witnessing a significant market segment and a niche consumer base in the accommodation domain with a needed long-term solution, born out of Smit and Shinendra's own struggle as first-time tenants, Stayhook was established in 2017 as a specialized brand in providing Fully Furnished/Semi Furnished/Unfurnished co-living spaces for working individuals and family units at zero brokerage.

Completely focused to provide service par excellence to tenants and house owners with the unique initiative of #WeDontDiscriminate, the service portfolio of Stayhook includes a one-stop solution, including documentations, police verification, rent collection and utilities.

Hassle-Free Moving In And Out Experience
Adding a new entrant in the post-pandemic world offering independent living in both fully and semi-furnished options, Stayhook not only gives balanced priority to bachelors and single status occupants along with families but also provides pre-and post-assistance services for hassle-free moving in and out experience which includes deep cleaning, keyless entry, on-call sanitization services. "The high-rise societies that are normally governed by the laid down parameters of the RWA's are a bit concerned about the single tenant's occupancy status.

Our team of dedicated service providers ensures and tackles the safety concerns of all stakeholders including homeowners, tenants as
well as RWA's. They feel most secure during the occupancy tenure using our highly integrated and evolved online system. We provide a host of other features including maintenance services, collection services, legal services and host of other features including referral bonuses," states Shinendra Kumar, CEO, Stayhook.

The Inception Of Stayhook
Smit Pandya started his entrepreneurial journey along with his friend Shainendra after facing misadventure during their post-graduation days. While searching for a place to stay in Noida, they found that the broker had run away with their advance paid brokerage and security amount with no regard to the signed mutual agreement. "Our personal experience with the rental and accommodation market made us realize that this was not an isolated case but a frequent scenario. We felt that there was a need to check this rampant concern which was prevailing in the metro cities and even homeowners were targeted.

We took it upon us to help people in similar situations, with this in mind the idea of Stayhook germinated ­ a firm that would provide Co-living, comfortable, long term and hassle-free stays, servicing both tenants and homeowners without any discrimination. We want to bring a change in perception of homeowners towards bachelors or separated individuals opening a wide variety of accommodations for these people to choose from without any biases restricting their options. We also provide a set standard of furnishings and services in co-living," says Smit Pandya, CFO, Stayhook.

We provide a host of other features including maintenance services, collection services, legal services and a host of other features including referral bonuses

Counting Milestones
Entertaining majority of customers who are mostly bachelors and spinsters and out of town professionals, the USP of Stayhook lies in providing the customers a private and safe living space with all amenities and a secure living arrangement without any social stigma or discrimination at the most pocket-friendly prices. "We were able to get seed funding of seven-digit figures after a year of the company's inception. Our client list mostly consists of professionals from well-known MNCs like IBM, TCS, Infosys etc. Recently we were able to get a major share of occupants from Samsung, India.

We have managed to reach rent collection amounting to almost 2 Crores ($ 271,000) in the year 2020. Although we are present extensively in Noida, we plan to expand across NCR by 2021 and enter Pune, Hyderabad and Bangalore markets in 2022. Our other important milestones include India 5000 MSME nomination, a dedicated 1800 Helpline number along with 24x7 online complaint portal, adoption of artificial Intelligence for locks and payment systems," concludes Gaurav Nagpal COO, Stayhook.