Oyo Life aims for 1,00,000 bed count by 2019-end
Launched in October 2018, Oyo Life takes an entire building on lease to refurbish, control inventory and manage the property end-to-endOyo Life has also tied up with Indian Institute of Technology - Delhi and Plaksha University in Gurugram
Bengaluru: Oyo Life, a long-term rental solutions player, aims to provide 1,00,000 beds by 2019-end, the company said on Thursday.
"We expect the co-living market to continue to grow further, Oyo Life is geared to provide over 100,000 beds by 2019-end. This is in line with Oyo's mission," said Oyo New Real Estate Businesses chief executive Rohit Kapoor in a statement.
Launched in October 2018, Oyo Life takes an entire building on lease to refurbish, control inventory and manage the property end-to-end to offer it on long-term rent to individuals and sharing partners.
Addressing the demand and supply gaps in long term rental housing space and enabling the tenants to avoid heavy deposits, lock-in periods, furnishings' expenses, maintenance and unpredictable living conditions are the company's focus areas.
After a year of operations, the company said it controls an inventory of 40,000 beds in 700 buildings in nine Indian cities - Delhi, Noida, Gurgaon, Pune, Bengaluru, Mumbai, Hyderabad, Chennai, and Kolkata.
Targeting millennials and young professionals, the technology-driven rental housing player is unlike aggregators, as it does end-to-end management of the rental property.
Oyo Life has tied up with Indian Institute of Technology - Delhi and Plaksha University in Gurugram to provide student housing solutions, the company said.
Offering beds beginning at ₹6,000 rupees per month, the company's offers modern amenities such as wi-fi connectivity and cctv surveillance among others.
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