Homes and gardens

Co-living is the way forward

Shared apartment

Shared apartment  

Spaces such as lounge, kitchen, utility and work zone are shared with co-residents while having a private bedroom and bathroom. By Zain Farook

It is estimated that a single working person typically spends about 45 minutes in a day in the kitchen and living room and an average 9 hours in the bedroom. While the rental cost of the bedroom accounts for 40 per cent, the rest 60 per cent is paid for the less-than-an-hour use of kitchen and living area. The question of economics then creeps in along with the prudence of such a hire and the possibility of optimising the expense.

Delving deeper into this space of value rentals has given rise currently to a new concept of living, one that permits community living while bringing with it a host of other facilities and attractions: the concept of co-living spaces, uniting individuals with similar lifestyle and inclinations. Co-living spaces essentially involve sharing areas such as the lounge, kitchen, utility space and work zone with co-residents while having a private bedroom and bathroom.

The objective is to share the rentals for these common areas which are sparingly used, including the utilities and maintenance bills. Typically co-living spaces come with facilities such as security, housekeeping, launderette, television and entertainment along with attending to repairs and maintenance. Additional facilities such as breakfast or meals on order are also on offer depending on the type of co-living space opted.

Akin to a classy hotel

Given such comprehensive facilities, co-living comes with the twin benefits of ease of moving in as well as ease of living. For those who are single and on the move every year or two, relocating to a space that offers all the facilities sans the hassle of setting up a home can be a boon. The facilities are akin to a classy hotel or serviced apartment without the high cost and with added amenities that are not available in the former. Be it a bill payment, housekeeping or an unexpected repair, help is just a call away. Added advantage is lower rental charges incurred as compared to renting a conventional home. The rental charged is all inclusive, covering housekeeping, repairs, maintenance, electricity and other utility bills, thus offering a cost-effective housing solution.

A point to note here is, the advantage accruing from co-living spaces does not rest with tenants alone but extends to property owners too who receive a higher yield on their property given that more tenants can be accommodated on a floor plate.

Similar ideologies

It is not only about smart sharing of spaces in a harmonious living environment but invariably the co-living spaces are structured to cater to people who have similar interests or life style, expectations, offering an opportunity to meet and live with people sharing similar ideologies.

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Printable version | Mar 30, 2020 11:04:28 PM |

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