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Co-working spaces make room for rent revision in Hyderabad

HYDERABAD: At a time when industry predictions indicate that the co-working sector will suffer a major blow due to the lockdown, as they cater to a large section of startups and mid-sized enterprises, big players in the city say they are charting out plans to tackle the situation – from increasing working hours and revision of rentals to enhancing sanitation standards and incorporating social distancing norms.

“Several of our clients have requested for discounts, waivers or deferment in payment of rents. We are discussing our options right now,” said Karan Chopra co-founder of Table Space Technologies that has six lakh square feet (sft) of leased space in the city.

The firm is, however, not too perturbed about a reduction in seat strength as it primarily deals with large companies.

“We certainly have nobody pulling out of our spaces,” Chopra said though agreeing to the industry witnessing a “flattened curve” for at least two quarters.

In case of Awfis – another significant player – the situation is much the same.

“Customers are certainly more cautious now. There is a small percentage of clients (3% to 4%) who aren’t coming back. But most others are either looking at a cut -- in rent or number of seats – or are ready to continue with the existing model,” said Amit Ramani, founder and CEO.

He added that his firm is already rolling out measures – like being open from 7 am to 10 pm to allow staggered work hours – to make their spaces ready for post lockdown.

His plans to double the 7,000 seats in the city might, however, take longer to realize now.

Other measures being taken by them include setting up of special Covid-19 help desks, limiting the entry of visitors, mandatory temperature screening among others.

April 30, 2020

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