People traveling to New York will find the affordable option for accommodation is co-living. Many people refer to co-living spaces as adult dorm rooms or common living in New York. Basically, co-living means living with strangers however each person is responsible for his or her own room instead of having one person in charge of the lease. While the hippie communes of the sixties might automatically spring to mind, New York’s co-living has more to do with convenience and less to do with kumbaya. Expenses like bill management, house-cleaning and happy hours are all included with the monthly rent bill.

Why Co-living?

Many people who have been through the task of looking for an apartment or roommates in the Big Apple attest to the fact that it can be rather daunting. Co-living takes the stress away from many responsibilities of renting a full house on your own. Co-living also does not have the same income requirements as normal rental homes. People in co-living spaces d not have to worry about cleaning the common areas in the home as this is covered in the cleaning fee.

The concept was formed with an aim to help newcomers and globetrotters to painlessly rent an apartment that would have otherwise been a stressful task. In exchange for an attractive monthly fee, they handle all the nitty-gritty issues as well as providing essential items like sugar, tea, and coffee. As easy as it is to find a co-living apartment, it is also easy to leave one. This is another benefit to people who are always on the move. The minimum stay can be anything from one night to 30 days.

Another perk of this living arrangement is being in the company of other people who may share in your interests; this means you have instant friends. Millennials may see this as a great advantage, as they can venture off together and go exploring in a new city with a new friend. Co-living makes perfect sense when planning to travel to New York City where it is not just expensive, but there is also limited space and people may want to be in a particular part of the city that is known to be “livelier.” One of the shortfalls of co-living is having to share a bathroom with other people, who you don’t even know.

Benefits of Common Living in New York

Below are a few benefits of common living spaces:

  • Affordability

You may wonder how people in their 20’s who are fresh out of college, can afford to live in such an expensive city. Many co-living homes service providers offer interest-based co-living and will try to match similar people in the same space. There are also higher end co-living spaces in NYC. Renters who choose to commit to certain tasks will receive a reduced rate. Tasks like ensuring the safety of the house by checking electrical issues, ensuring maintenance is done whenever needed and handling angry co-renters issues.

  • Practicality

It may be impractical to have a bunch of people share one common kitchen space and sometimes one person could be an annoyance to others with their “habits.” However, in this situation tenants need to agree on a day when they will commit to cleaning out the kitchen and stuff that they have been keeping in the fridge.

  • Cleaning

Although these places offer cleaning services, with the number of people that live in the home, things don’t often stay tidy and clean for too long. In this case, the cohabitants can draw up a chart outlining who will be on duty to maintain cleanliness for each day.

  • Amenities

Residents in the home have access to Wi-Fi, dishware, weekly dinners and even networking events where they get to meet other people in the area that are also co-living.

Co-living is Affordable

New York has offered city financing to get developers to construct co-living spaces that are cheaper than the market rate. There may be many co-living spaces that are cheaper to rent than the conventional ones, but they are still heading toward high-end prices. Studies show that more than 436 000 single adults who were living in NYC in 2015 spent more than 30% of their income on rent. There is a law that was signed recently which requires companies dealing in home-sharing to provide NYC officials with detailed information pertaining to hosts and the homes they have available.

Common living in New York is an alternative way of living which gives complete strangers the opportunity to share a home and not just live more affordable but also more socially. It may not be for everyone, but since its inception in 2012, it has blossomed with a dozen co-living companies opening and flourishing last year alone.

The Millennial’s Co-living Space has Been Amped Up

As we move more and more toward the “smart” and “digital” age, owners of co-living spaces are upgrading their living spaces. Together with the usual features of house cleaning and Wi-Fi, there is also a smart home developer that has joined forces with many co-living owners. Now, rooms contain smart locks, Amazon Echo to control the smart features and a smart mattress to track how long it takes the individual to fall asleep. Millennials have access to data on how long they slept for, and their heart rate while they were asleep. The main focus is to provide Millennials with a better quality of life at a much cheaper rate. Companies are seeing the need to target millennials with co-living spaces and thus have to ensure that they are up to speed on the latest technology offerings.
Co-living is a great alternative to spending lots of money renting a good home. They take away the little stresses that people often have to manage themselves when they rent a home on their own. It can be taken on a month to month basis, which makes it an ideal option for travelers, youngsters, people transitioning locations and those who simply need to travel for work.