What does co-living mean?

Co-living is a modern form of community living where residents are given a private bedroom in a furnished home with shared common areas.

What does co-living mean?

Coliving is popular in big cities as an affordable way of living for students, workers, digital nomads, or expats. Unlike traditional homes, coliving is attractive to tenants due to its affordability, flexibility, included amenities and a sense of community. Co-living is a new rental trend.

It is a type of shared apartment that is becoming increasingly popular in the world. Co-living is a shared apartment model that accommodates three or more biologically unrelated people who live in the same housing unit. In general, coliving is a type of intentional community that provides shared living space for people with similar values or intentions. The coliving experience can simply include group discussions in public areas or weekly meals, but often extends to collaborative work spaces and collective efforts such as living more sustainably.

More and more people around the world are turning to coliving for the same benefits as other community living models (such as communities or cohabitation), including convenience, affordability, and a greater sense of social belonging. Coliving is much more than a student apartment or a student residence. It is a new concept of community living that is popular with millennials who live and work in their companies under one roof. Residents can network and build synergies to support them in their business projects.

Millennials manage to move to neighborhoods of big cities like London, Copenhagen, and New York, where it’s (almost) impossible for these highly skilled young people with an entrepreneurial mindset to set foot on the property ladder. Coliving is a community life concept in which young professionals move in with like-minded people, share service costs and benefit from flexible rental conditions. A laundry, kitchen, swimming pools, work areas, leisure areas, gyms, and spa are among the usual facilities that Coliving offers tenants, which include numerous liberal professionals and digital nomads. They usually enjoy private en suite bedrooms and organize events for residents to meet and socialize.

What is Coliving explained in 20 seconds (Video)

Co-living with Entrepreneurship

They are designed and equipped to encourage creativity, innovation and teamwork around the clock. Weekly or monthly leases Tenants are not bound to long leases. This continuous rotation enriches living together with new experiences and perspectives. Co-living is a community lifestyle in which people with similar values occupy a private space in a shared space.

Co-living companies also offer less tangible offers like “community” and “authenticity,” whose value depends on the value you assign to it. On the other hand, if you’re an extrovert and thrive in a community and are empowered by shared cultures, events, and living and working with a group of like-minded people, co-living is for you. Housing affordability remains a major issue, so co-living could supposedly alleviate the problem, but at current high-end prices, it’s not for everyone. According to the study, large co-living companies such as Common, Ollie, Quarters, Startcity, X Social Communities, and WeLive, which are run by co-working firm WeWork, currently have just over 3,000 beds in the US, mostly in major cities.

A number of overlapping social and economic factors have made the idea of living together attractive to some city dwellers and investors in recent years. It’s no coincidence that co-living spaces are popping up in tech cities like San Francisco, Seattle, and New York. Co-living is aimed at young technology workers, although some co-living companies go to great lengths to say their target markets are broader. The co-living lifestyle multiplies in urban environments. Whether you’re a tenant or a landlord, now is the best time to visit a coliving space.

Future of Coliving

While living together will by no means replace traditional roommate agreements in the foreseeable future, it is becoming increasingly popular. You can see how coliving works on popular TV shows whose characters live colive with each other, for example The Big Bang Theory, Friends, How I Met Your Mother, and others. The idea of co-living is based on private spaces in shared modern homes, where members have both the privacy they desire and the community with different cultures and common interests. Common, like several other co-living companies, is almost fully utilized in its portfolio, which includes locations in New York, Chicago, San Francisco, Seattle, Los Angeles, and Washington DC.

In co-living situations, utilities and WiFi are included, as well as a range of amenities such as house cleaning services and catering parties.