Terms and Conditions

Agreement Terms

  • Lock in Period (For Professionals) : Minimum 3 months
  • Lock in Period (For Students) : Minimum 12 months
  • Security Deposit : 2 months (to be paid at the time of move in)
  • One time move in charges (Non refundable) : INR 5,000
  • Notice Period : 30 days
  • Token Amount (Non refundable) : INR 10,000
  • Electricity of the room & Food packages are not included in the monthly rent
  • 1st time room reallocation is non chargeable after that it would be INR 500 every time the resident reallocates

Move in Policy

  • Applicant has to pay 1 month rent advance along with security deposit and INR 5,000 one time move in charges
  • Move in charges are non refundable and are for documentation purposes (like police verification, rent agreement etc.)
  • For booking a bed in COVIE, token amount is INR 10,000 and 50% (i.e INR 5000)  id  refundable on cancellation within a week.
  • Before moving in, the resident has to download the COVIE app and upload the required documents for KYC purposes Aadhar Card, PAN Card, Passport Copy, 2 passport size photographs, company ID/employment proof, 2 emergency contacts , HR Reference
  • Resident has to sign the terms and conditions policies and rent agreement before physical move in

Cancellation Policy

  • If the booking is cancelled within a week before move in 50% i.e INR 5000  token amount would be returned.
  • If the booking is cancelled after move in then it would be considered as normal move out and move out terms would be applicable
  • In case of trial period, security will be refunded in full given 24 hours of notice

Rent Payment

  • Rent must be paid before the 7th day of every month. Failure to do so will result in a late payment penalty which is equivalent to INR 500 per day or termination of contract and vacation of premises after the 20th day of the month
  • The rental cycle is from 1st to 30th/31st of every month and needs to be paid accordingly
  • Residents are encouraged to pay rent via Net Banking/Payment Gateway only

Move out Policy

  • In case you want to move out from COVIE property, you have to officially send an email or put your move out date on your COVIE app stating the exact date of move out in Move out Section
  • 1 month of written notice is mandatory before moving out
  • In case the resident wants to move out before the move out date entered , he/she is free to move out by completing the formalities like room audit & keys handover but the rent would be charged till the move out date entered
  • In case the resident wants to extend their stay at COVIE, they have to formally inform COVIE staff by raising a request on the app or by emailing. Stay extension is completely the decision of COVIE team based on the availability of the bed

Security Deposit Refund Policy

  • The security deposit amount will be refunded in full (post deductions for damages, if any) provided that the resident completes the lock-in period and gives a notice of 30 days prior to vacating the property
  • The security deposit amount will be refunded within 20 days of the resident vacating the property.
  • Move out notice to be given formally only by mailing or on COVIE App, any other kind of intimation for notice won’t be considered
  • If the member moves out before completion of the lock-in period, then all discounts/offers will be reversed and will be adjusted in security deposit during the refund
  • Refund will be done only via online transfer (NEFT / Netbanking / Debit Card / Credit Card)

Guests Policy

  • Members can invite their guests to the common area
  • Guests should present their government ID proof along with their phone nos. before entering the property.
  • Members will be responsible for the behavior of their guests and in case of violation of any rule may result in immediate termination of contract along with the security deposit forfeiture.

Referral Policy

  • Referral would be considered only when the minimum lock in period requirement is fulfilled, In case the referee moves out before the completion of lock in period his discount will be reversed as well as the benefit  given to referrer will also be reversed
  • Benefits of the referral can be availed only after the move in of the referee
  • Referral request to be submitted only via COVIE app