Co-living is the term used to describe shared living spaces for like-minded people to live and work. This specially-designed accommodation creates an inspiring environment for people to collectively use richer infrastructure and share experiences. Co-living space offers mid- to long-term accommodation and also host community events, allowing residents to form meaningful connections with both the people they live with and the neighborhood they live in.

Beyond the element of shared physical space, existing co-living facilities today as common traits include:
– Lease term flexibility, but with minimum commitments (typically 1 month)
– Asset-sponsored programming, with an emphasis on creating sense of community
– All-inclusive billing and fully-furnished suite of spaces
– At least one shared habitation space (bedroom, bathroom, living room or kitchen, can also include co-working, gym, etc.) - It's offered to live, work and play.
– Charged on a per-bed/per-room, not per-unit basis.
– Professionally managed and hospitality-led

A co-living operator, typically, gets into a contract with property owners (or developers) and converts their dwelling into a coliving facility. This transformation includes design of the space based on the principles of human interaction, construction or renovation as the case maybe, addition of appropriate furniture, etc. Once the space is ready, the operator manages the complete lifecycle of the facility including marketing and tenant identification, rent collection, property maintenance and management, organizing community events, addressing any complaints and concerns of both the property owner and tenants.

(source: Wikipedia, Invesco, Housemonk)

JLL: "In many ways, the crisis as helped the sector to highlight its strengths and how the flexible nature of this product means Coliving has a major role to play in the urban landscape of the future." "At the start of the pandemic, there were concerns that social distancing and restrictions on travel would limit the potential of Coliving as a sector. As Coliving can provide both short and long-term stay accommodation, those operators that have focused the hospitality segment have been at greater risk from voids, much like the broader hotel sector. Those with a long- term focus have displayed the same defensive qualities as multifamily with occupation levels robust throughout Q2 2020." Download full JLL article.

Business Insider: Co-living spaces have evolved during the pandemic.
"Co-living spaces used to be for broke millennials, but they're attracting a whole new crowd during the pandemic." Go to article.

Co-living insights: "With tourism practically suspended due to covid-19 implications, the idea of reinvention is even more appealing. Coliving emerges as a great alternative for this type of development: a low-risk investment, with more profitable operation than a hotel, multiple demands and an attractive outlet towards the housing market." Show source.


5 STRENGTHS OF THE COLIVING MODEL IN THE PERIOD OF HEALTH CRISIS

• Flexibility of the offer
• Social impact & wellbeing
• The growth of the coliving market
• Diversity of customer demographics
• Stronger relations with the customer, higher trust and satisfaction

Download JLL European Living Investor survey report: Living sub-sectors, investor intentions, market expectations, and views on key topics