A wave of dissatisfaction is sweeping through Bengaluru as customers of Colive, a startup specializing in tech-enabled shared living spaces, voice grievances regarding unreturned deposit amounts. Numerous complaints have surfaced on social media platforms, with users expressing frustration over what they describe as deceptive practices by the company. The fallout includes allegations of issuing post-dated cheques that bounce due to insufficient funds, leaving many feeling cheated and unheard.
Colive, which operates an app facilitating rentals and paying guest accommodations, has come under scrutiny for its refund policies. Users have reported that when they attempt to reclaim their deposits, the company presents them with post-dated cheques instead of immediate refunds. Many customers, including working professionals like Sanket Salot, have shared their experiences, highlighting the challenges they faced while trying to retrieve their funds. Salot, who resided in the Colive Signature Tower from October 2023 to March 2024, recounted a frustrating ordeal that many have echoed.
“The firm is effectively forcing customers to accept deposits only in the form of post-dated cheques,” Salot stated, underscoring the plight of those who have tried to navigate the refund process. He described a situation where, after repeated attempts to follow up, he received a cheque that ultimately bounced, leaving him at a loss. This sentiment is prevalent among several other users, who have taken to social media platform X (formerly Twitter) to share their stories.
Users on X have characterized Colive’s approach to refunds as a systematic issue. Complaints vary from unresponsive customer service to outright claims of funds being withheld. Many have stated that their support tickets raised with the company have been closed without resolution, further aggravating the situation. This lack of communication has compounded frustrations, leading to a broader narrative of distrust surrounding Colive’s business practices.
In addition to individual experiences, some customers have pointed to a pattern of behavior that suggests a larger systemic issue within the company. Reports indicate that the firm’s inability to return deposits in a timely manner is not isolated. A number of customers have expressed concerns over the company’s financial practices, suggesting that its operational viability is in question. This has raised alarms about the sustainability of the model that relies heavily on customer deposits.
Despite attempts by aggrieved customers to seek clarity and resolution, Colive has not provided a formal response to these allegations. Media inquiries have gone unanswered, leading to speculation about the company’s willingness to address these issues. Industry experts have weighed in, emphasizing the importance of transparency and accountability for companies operating in the shared living sector. They note that maintaining trust with consumers is crucial, especially in a competitive market where customer loyalty can significantly influence success.
This situation has attracted attention beyond the immediate circle of affected users. Social media reactions have spurred discussions about regulatory oversight and the need for consumer protection measures in the rental market. Some commentators argue that startups like Colive must adhere to stricter guidelines to prevent exploitation of consumers, particularly when dealing with significant financial transactions like security deposits.
As the dialogue around Colive’s practices continues to unfold, the broader implications for the shared living space industry are becoming evident. The reliance on digital platforms for rentals has made consumer feedback more visible than ever, forcing companies to adapt or risk losing their customer base. In an era where online reputation can make or break a business, the necessity for ethical practices and responsiveness to consumer concerns cannot be overstated.
Amid these developments, potential renters are advised to exercise caution and conduct thorough research before engaging with companies like Colive. While the concept of tech-enabled shared living offers many benefits, the current complaints highlight the pitfalls that can arise without proper oversight and customer service.
(via inputs from FPJ)
