Co-living Spaces
Uptown Living Spaces offers a convenient and hassle-free solution for IT professionals looking for co-living accommodations. Their fully furnished spaces, roommate matching services, and transparent billing for rent and utilities make it an attractive option for those in the IT industry.
We thoroughly tested the Hyderabad market with our co-living accommodation prototype, Uptown stays, and gained valuable insights. We identified some key findings and strategies for success in the co-living business, they are
a co-living prototype
Market Understanding: Understanding the market thoroughly is crucial for any business. It's excellent that we've taken the time to analyze what potential tenants are looking for in co-living spaces.
Quality and Security: Quality living and security are paramount for co-living residents. Many individuals are willing to pay a premium for accommodations that offer these essential features. Ensuring the safety and comfort of your tenants is a top priority.
Value for Money: We observed that people are willing to pay more for quality living is significant. This means there's a demand for high-quality co-living spaces, and customers are willing to invest in a better living experience.
Consideration of Constraints: Taking into account factors like taxes and electricity tariffs is a smart move. These are often overlooked but can significantly impact the overall cost of living for tenants. Finding ways to mitigate or manage these costs can make co-living spaces more attractive.
"Uptown Living Spaces" offers ready-to-live co-living accommodations that are fully furnished and equipped with all necessary amenities, specifically designed to cater to IT professionals. Here's an explanation of the key features and benefits of their service
Fully Furnished Accommodations: Uptown Living Spaces provides fully furnished living spaces. This means that when you move in, you don't need to worry about buying furniture or household items. The accommodations are equipped with everything you need, from furniture to kitchen appliances.
Aimed at IT Professionals: The service is designed with IT professionals in mind, recognizing the unique needs and preferences of individuals working in the IT industry. This could include factors such as proximity to tech hubs, high-speed internet, and a comfortable work-friendly environment.
Convenient Roommate Matching: Uptown Living Spaces makes it convenient for individuals to find roommates. This is particularly beneficial for those who may be new to a city or looking to share living expenses with someone. The company likely has a system or platform for matching compatible roommates.
Flexible Housing Options: The company offers flexibility in housing arrangements. You can either find a roommate through their system or choose to live with a friend or colleague if you already have someone in mind. This flexibility allows tenants to create a living situation that suits their preferences.
Separate Charges for Rent and Utilities/Furniture: Uptown Living Spaces charges tenants separately for house rent and utility/furniture hiring charges. This transparency ensures that tenants know exactly what they are paying for and allows for more customized billing based on individual usage.
GST Planning: House rent for residential dwellings provided by Uptown Living Spaces, owned by their client's will be billed through individual owners and may be exempted from the Goods and Services Tax (GST). However they need to pay GST on the furniture, appliances rental charges and maintenance charges
Electrical Charges: We are planning domestic tariff to be applicable on electricity charges at the assets managed by Uptown Living Spaces, as they are purely residential dwellings.
Proximity of IT Corridors: Most of the properties are situated in and around the major job hub areas and and a person can reach his office in less time by avoiding huge city traffic and can utilize/spend the spare time in interested / passionate activities.