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CRIB Property Solutions, a Bengaluru-based startup, has successfully onboarded over 1,000 co-living spaces and hostels in Karnataka and Tamil Nadu onto their property management app. Nationally, the CRIB app is used by over 1,000 landlords managing over 2,500 properties with more than 150,000 beds, generating rental income of INR 2,500 crores.
Founded in 2021 by Sunny Garg, Shaifali Jain, and Archit Chauhan, CRIB introduced CRIB Plus, a premium version of its platform. With an investment of over USD 1 million, CRIB Plus specifically targets the growing student housing and co-living markets in India, which are projected to experience significant expansion in the coming years.
CRIB is now leading a transformation in the operations of co-living spaces, hostels, and similar accommodations across India, with a strong presence in Karnataka and Tamil Nadu. CRIB's apps are carefully designed to optimize key functions like tenant management, rent collection, vacancy monitoring, tenant communication, and more, in a cost-effective and seamless way.
Notably, management costs less than INR 100 per bed monthly, reducing to INR 50 for larger properties, making CRIB an attractive option economically. With its robust and efficient solution, CRIB benefits both property owners and tenants by streamlining property management and enhancing the living experience.
Sunny Garg, CRIB Co-founder, stated that CRIB is revolutionizing operations in Karnataka and Tamil Nadu by providing a comprehensive solution that simplifies management while improving tenant experience. Strong demand from businesses and owners shows CRIB's significant impact.
Property owners and operators gain substantial benefits from CRIB in modernizing management cost-efficiently and conveniently. Shashank Reddy of Sugathi Hometel, which manages around 500 beds across multiple co-living spaces, expressed gratitude for how CRIB has simplified their work processes.
A report by Colliers in December 2021 indicated that India's co-living market is set to double by 2024. Moreover, a study conducted by Colliers India in June 2023 projected exponential growth in the student housing sector, fuelled by an anticipated rise in student enrollment, reaching 31 million by 2036. This increase in demand is expected to create a gap between the existing supply of student beds (7.5 million) and the increasing demand, highlighting an opportunity for growth in this sector.
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