WHAT MAKES CO-LIVING SPACES SO GREAT | CO-LIVING SPACES
It’s been a hot minute since civilization decided to reinvent how and where we live. The concept of renting or leasing a home is so
Renting in modern day society isn’t so far removed from days past; it’s just more structured and standardized. Regulations vary by city, county, state and country, but renting an unfurnished property for a term of at least 1 year is the norm in any landlord-tenant relationship. Throw in real estate or rental agent fees and you have yourself a pretty inflexible situation.
Inflexible Lease Terms and Pricing Model
When you sign on the dotted line and receive your house key, you:
- Enter into a rental contract with designated start/end date.
- Pay first month’s rent and last month’s rent.
- Pay a security deposit.
- Are responsible for covering the agency fee or commission (from a % of the monthly rent up to 2–3 months’ equivalent of rent, depending on your city or country).
- Have to make a utilities deposit.
- Are responsible for utilities activation and/or contracts.
- Are required to do credit and background checks plus references. In some locations, like NYC, proof of income is also important.
On top of that, you need to hire a mover for your furniture or buy new furniture to fill this new space. When the 12 months are up, the most likely outcome — and the path of least resistance — is to renew the lease.
Because one thing we can all agree on is that moving is an expensive pain in the ass.
Co-Living Spaces Solve This on Every Level
- Typically, there’s no lease agreement or minimum commitment (with exceptions). You decide when you want to come and go.
- You pay only for the term you want to stay for.
- There’s no security deposit (sometimes a credit card hold).
- You owe no agency fees or commissions.
- Utilities are included so no out-of-pocket deposit.
- You don’t need to set up any water, electricity, internet or cable contracts.
An added bonus is that most co-living spaces are already fully-furnished, so you don’t need to move anything but yourself, clothing and personal items. This eliminates the primary headache-inducing causes of stress and expenses during a move. Hallelujah.
Also Visit: A DAY IN THE LIFE OF A CO-LIVING RESIDENT