Please Try again!
A Unique Concept of Living in a Community of Like-Minded Individuals, Without the Hassles of Managing a Home

A Unique Concept of Living in a Community of Like-Minded Individuals, Without the Hassles of Managing a Home

It's human nature to live in a community. You yearn for a sense of belonging and sharing spaces helps you stay happy. People live better, have better experiences and save more when they share spaces and that is what led Viral, Co-Founder and CEO, StayAbode to come up with the idea of building co-living spaces. In an exclusive interview, he talks more about this new trend and how they use design, technology, service and brand to build co-living spaces for the rental residential market at scale.

Tell us about your journey and the idea behind StayAbode.
Devashish, one of my cofounders having stayed in backpacker hostels and been a part of setting up backpacker hostels in India, he felt that people live better, have better experiences and save more when they share spaces. What also stood out for him was the fact that the liberty to live freely and with convenience makes the living experience a whole lot better. The inspiration for the idea, in a nutshell, is an aspect of celebrating individuality with a sense of belongingness. That's when the idea of living in a community with a group of like-minded individuals really struck. He then came back to India and teamed with Varun and myself to make this a viable business.

StayAbode designs are such that one doesn't need to think about the hassles of managing a home. At StayAbode properties, utility bills are paid, linen washed and one cooks only when one feels like. It's like living in a boutique hotel with a community of like-minded individuals.

We're currently a team of 22 and growing. We're live in Bangalore and are expected to be in a few more countries in the next five years. We are operationally profitable. StayAbode's co-living spaces supports the lifestyle of the young, single sociable household, enabling a high level of comfort, convenience and a sense of community with shared spaces such as kitchens, common areas, game areas, music, art corners and places to dine and work. The company raised angel funding in February and a follow up in Aug this year from a consortium of investors.
Through this way of living, StayAbode uses real-estate efficiently giving property owners upto 100% higher yield on their properties. StayAbode's co-living spaces is building the future of residential real estate for the urban millennials. It maximizes space utilization that allows members of our community to live in a world class facility at a price they would pay for a sub-standard accommodation facility in the city.
The company raised angel funding in February this year from a consortium of investors.

How is co-living different from community living?
Co-living is a way of living focussed on a genuine sense of community, using shared spaces and facilities to create a more convenient and fulfilling lifestyle. It is a place which you can call as your home where you live with like-minded people and enjoy a hassle -free living experience that lets you focus on the things that really matter. It's a boutique- like experience where you don't have to manage your billing, concierge service and room cleaning.

Share few words on the full-stack model which you follow?
StayAbode follows a full-stack model, not a part-inventory one. It leases out complete buildings - from the basement to the terrace - and turns them into co-living spaces. After that, the team puts together the furniture and common-room setups, ensuring the space has everything that a tenant needs, including add-ons like music rooms, art rooms, study areas, even barbeque grills in some properties.

Please explain in detail about the interesting amenities like art corners.
StayAbode is using design, technology, service and brand to create co-living spaces that foster a hassle-free community living experience. StayAbode is a concept focused on fostering a sense of community, of living together, of sharing space, costs, resources and time with like-minded people. StayAbode has a host of interest-based socializing spaces in their properties to build a strong community. From a cozy reading nook to a community music zone complete with a guitar and speakers, we've thoughtfully built these zones to create a conducive environment for people to interact and socialize.

(Also read: 20 Things About Life I Wish I Had Known When I Was 20 Years Old )

Contribute to LifeHacker

Write for Us

Subscribe for latest stories