Coliving is a modern form of communal living and lifestyle that has gained much popularity in recent years. Coliving has become a popular alternative to traditional renting of apartments. It appeals to a wide demographic, including young working professionals, digital nomads, freelancers and students. There are many reasons why people are increasingly being drawn toward this type of living arrangement. Sharing of physical space enables sharing of ideas, interests and experiences. The community becomes a positive enabler and the benefits go beyond budget considerations.
Some of the benefits of coliving in Los Angeles are provided below:
Affordability
Rent is typically the largest monthly expenditure for the average renter and it can represent a disproportionate amount of monthly after-tax income. As cities become more crowded and populations increase, city living is becoming more expensive. Coliving in Los Angeles offers a housing arrangement that can help individuals with their budget and monthly spending. As with other examples of the shared economy, sharing of space leads to meaningful cost savings. While cost savings is an obvious benefit, there are many more benefits that are appealing with coliving.
Comfort and Convenience
Moving into a new home can be overwhelming with upfront purchases like furniture and basic supplies in addition to recurring expenditures like utilities and maintenance. Living in a coliving residence run by a good operator can make expense management a lot easier. Coliving residences in Los Angeles typically come furnished and are equipped with basic supplies and amenities. Utilities are also typically covered in the fixed monthly rate and some coliving operators even offer housekeeping services.
Community and Connection
City living can be lonely and making new friends especially in a bustling city environment can be challenging. With a built-in community, coliving can provide instant access to a social network and support group. Through sharing of space and sharing of responsibilities, human connection is unavoidable. Through human connections, friendships are formed, ideas are shared, and diversity is inherent and cherished. Individual contribution to group wellbeing is promoted and an overall sense of belonging naturally occurs in coliving. Being an integral part of a community can lead to better physical health, mental well-being and overall happiness.
Security and Safety
In addition to physical safeguards like security cameras, lighted pathways and secured entranceways, coliving residences provide safety in numbers. Physical presence of others within the same household can provide emotional and physical security. In the event of emergencies, it can be comforting to know that there are others close by who can help and provide support. A good coliving operator performs background checks on every candidate that will be admitted to the shared living space. There is a feeling of security living with housemates you can trust.
Practicality and Sustainability
Coliving environments involve higher building density through efficient use of space and sharing of resources among household residents. This housing model leads to less waste and less per capita consumption of water and energy resources. Better utilization of resources and space is common-sense living and more sustainable living. Furthermore, urban coliving residences, which are in close proximity to commercial districts where people work and play, contribute to more efficient mobility – shorter commuting distances and more public transportation options.
COHAUS is committed to developing and operating high impact living environments where people can live life more fully– sleep better, work more productively, meet interesting people, pursue new interests, inspire and be inspired.
If any of the points above resonate with you, you may want to consider coliving. If coliving is right for you, then take your time in choosing a coliving operator that will provide a safe and comfortable environment with the right mix of factors that are suitable for you. Here are some considerations to help you choose the right coliving space to live in Los Angeles.
