NestAway

About NestAway

NestAway Technologies operates as an online marketplace for home rentals, positioning itself as India's largest managed home rental network. The company was founded in 2015 by Amarendra Sahu, Smruti Parida, Deepak Dhar, and Jitendra Jagadev. The founders, all alumni of the National Institute of Technology, Surathkal, conceived the idea after facing difficulties finding rental accommodation themselves in Bangalore.

The platform aims to provide affordable rental solutions for individuals, particularly bachelors and students, in urban areas. NestAway's business model involves connecting homeowners with verified tenants, managing the entire rental process from tenant sourcing and rent collection to property maintenance. It does not own the properties but partners with homeowners, offering them a fixed rent and taking on the responsibility of finding and managing tenants. This model provides homeowners with a consistent income stream while offering tenants furnished, ready-to-move-in homes without the hassle of dealing directly with landlords or paying hefty brokerage fees. The company serves major Indian cities including Bangalore, Delhi, Pune, and Mumbai.

In a significant development, NestAway was acquired by the parent company of the prominent property classifieds portal, MagicBricks, in June 2023. This acquisition followed a period where NestAway faced challenges, including a substantial number of its rental properties becoming vacant. Post-acquisition, NestAway continues to operate as an independent brand, leveraging MagicBricks' platform and resources to enhance its offerings and market reach. The service caters to a younger demographic looking for convenient and managed living spaces.