By: Rent Room Hero | Blog
Co-living, or communal living, is a housing arrangement where individuals or a group of people live together in a communal setting, sharing common areas and utility costs while benefiting from flexible rental terms. This trend has gained popularity in recent years, especially among students and young professionals as co-living does not only provide them with a place to live but also a sense of community with some added flexibilities and conveniences.
While co-living arrangements offer shared living spaces, there would still be some private areas for their residents, such as the bedrooms, and some would even have their own private bathrooms. Residents are able to mingle and engage in social interactions with each other in the communal spaces or through events and activities organized by the management.
By renting with a coliving rental arrangement, a tenant can save more money than renting with their traditional counterpart. One of the reasons is because in a coliving rental arrangement, the cost of utilities and common amenities are being split among the tenants instead of being charged individually per unit.
The rooms being rented out and the common areas in coliving arrangements are usually fully furnished. This would considerably cut down the cost needed for tenants who are moving in, as they wouldn’t need to worry about buying or transporting their furniture to the new unit they are moving into. This would also reduce the time needed to set them up, as they won’t need to spend time moving and redecorating the place.
Parts of the attraction of coliving arrangements are the shared spaces. In coliving arrangements, there would be a mix of both private and shared areas. The tenant would have their own private bedroom but would share the common areas such as the kitchens, and living rooms. Some arrangements do provide private bathrooms to their tenants but in some others, the bathrooms are being shared with the other tenants .
One of the main points of coliving spaces is the community, hence the name, which stands for communal living. Many coliving spaces organize events, activities, and social gatherings to encourage interaction among their residents. This can lead to many networking opportunities for professionals and students alike, new friendships, and an enriching living experience for all.
Oftentimes, coliving arrangements offer some flexibility in their rental durations, which can range from a few weeks and up to a several months or even longer. Some places also offer free change in room placement for their tenants. These terms are appealing to individuals who may not want to commit to the traditional year-long leases.
Another key aspect that may seem appealing is that a company or individuals will manage the coliving space for you. They oversee the property, handle the maintenance, and organize community events for the tenants. As the management handles the upkeep of the property, the tenants would have fewer things on their plates and can focus on other aspects of their lives.
Generally, coliving arrangements are suitable for everyone. The premise may seem more appealing to some, such as:
This arrangement is popular among young professionals, especially those who have just started their careers or recently moved to new areas due to their work. The affordability and the added conveniences offered by coliving arrangements allow them to focus on sorting their lives out. The added social opportunities offered by coliving arrangements would also help them get the social opportunities and networking chances that may help them further down the road.
Digital nomads are people who travel while working remotely using the internet. This flexibility allows them to be on the move and not be restricted to a certain location for an extended period of time.
With coliving arrangements, digital nomads are able to stay in different cities or even countries for a duration of their choice without the need of setting up for a new home every time they move, and still able to enjoy a sense of community in a the new places.
Coliving can be seen as an alternative option for students, providing additional choices to the traditional dormitories provided by their campus or the traditional renting of privately owned property.
Coliving spaces may offer more flexibility and comfort for the students while not abandoning the social aspects. Being able to mingle with more circles would prove to be beneficial as they would be exposed to people from professional settings and various backgrounds.
A coliving arrangement is a favorable option for expats as they provide all the basic necessities in accommodation, which would help ease their transition into a new country. This arrangement would also allow tenants to quickly build a social network, which is helpful for those being in a foreign place.
All in all, coliving arrangements are beneficial and suitable for everyone. With a long list of benefits and flexibilities, what’s there to stop you from giving it a try?
