The aspects of communal living include:

planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living is a modern version of the old way of living. In this model of living, people share resources, spaces, and, a set of values. It means creating a living space to include services that can enhance the quality of living of a resident.

The aspects of communal living include:

• Shared collaborative spaces and facilities
• Community building
• A lifestyle focused on convenience
• Having your own space remarked from others
• Coliving Movement and the Pandemic

The term planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living was first coined in 2004. However, it became a popular term many years later. The coliving industry came into existence to meet the multiple problems of unaffordable housing, urbanization, changing lifestyles, and remote working. The trend continued until 2020. And then the pandemic hit the world. Shared living or coliving is growing at a fast pace to meet the changing demands of living.

Business Model and Challenges

The number of coliving spaces in the UK has skyrocketed and is on a steady upward trend. It is a relatively new industry in its current form and is in a state of constant churn and innovation. Some challenges faced by the coliving business model are:

• Getting approvals
• Financial feasibility
• Engaging with multiple stakeholders
• Establishing the value of community
• Considering corporate sustainability

Types of Coliving in the UK Market

The sector can be segmented by the type of residents and classified as

• Remote Workers
• Urban Society
• Students
• Entrepreneurs
• Seniors
• Families

Another method of segmenting planetrent.co.uk/blog/five-reasons-to-love-coliving'>co-living is by comparing it with the residential real estate asset classes. These include Purpose-Built Student Accommodation (PBSA), Serviced Apartments, Build to Rent (BTR), and the Hospitality Sector.

The Benefits of Coliving

The key benefits of planetrent.co.uk/blog/five-reasons-to-love-coliving'>co-living are:

Convenience:

Coliving spaces are managed professionally. The management teams facilitate convenience for residents by taking care of maintenance issues, cleaning, and other aspects.

Affordability

planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living is reinventing the way people use space. It optimizes occupancy efficiency and the use of resources. It is the perfect solution for those struggling to find affordable housing.

Resolving Loneliness

Loneliness is a major health concern today. planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living can help address this problem by providing a sense of belonging and support. It helps individuals become a part of the community and share their good and bad times with others.

Sustainable Living

planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living can mitigate environmental impacts. Research shows that emissions in any planetrent.co.uk/blog/five-reasons-to-love-coliving'>co-living community are just a third of that from an average UK household.

Development of Individuals

planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living spaces become a nurturing ground for personal and professional development. planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living residents can regularly share and exchange skills. They can also collaborate and co-create projects together.

The Impact of Co-living

planetrent.co.uk/blog/five-reasons-to-love-coliving'>Co-living can impact multiple layers and spheres of influence, such as the company, residents, community, and city/village levels.

What We Do

Ringley Group is an established player in the coliving space and gets involved in a project right at the primary level. We help establish a strong covenant that can be highly beneficial for securing funding for a coliving project. We specialize in providing shared workspaces that are driven by innovation and comfortable to use. We offer a large choice of spaces to fit your business and growth needs.