A greater sense of community, shared social spaces and increased social interactions are the primary selling points of Co-Living. But Covid-19 and, more pertinently, social distancing have made all three of those features less important in this new normal world we find ourselves in.
So does the fact that we're supposed to keep as far apart as possible mean the Co-Living life is over before it even got a chance to shine here in the UK? Not necessarily. While social distancing has pushed us further apart, the mere fact that it's a thing now has left many of us craving real-life social interactions.
This is especially true for those who have lived alone for the last three months, cut off from physical interactions that we all took for granted. But what does it all mean for the future of Co-Living, and how will the sector look going forward?
Benefits of Co-Living
Right now, being close together is somewhat of a taboo. But just a few months ago, it was perfectly normal. Co-Living communities sensed a need for a more interactive living experience, especially in big cities like London and Manchester, and decided to roll out homes designed for sharing.
The concept is simple: you have your own room and bathroom, but the rest of the building is shared. Kitchen and lounge spaces are a place to meet and interact with your neighbours, while co-working spaces and other on-site areas encourage collaboration.
An increased desire for Co-Living spaces
The world is desperate to get back to normal but also understands the need to be cautious. Yet, that hasn't stopped many dreaming of a lifestyle that features more interactions. Having your own apartment as well as the ability to enjoy communal spaces with other people is highly appealing to many at the moment.
It would seem that Co-Living communities also believe the desire for shared social spaces at home will only increase. For example, Vonder, one of the leading Co-Living brands, has already committed to building a community in Shoreditch to add to its five buildings in the capital.
Flexibility the key
Another aspect of Co-Living lies in its flexibility. Whether it's pre or post-Covid, there is plenty of value in having the freedom to come and go when you please. For many private renters, flexible living just isn't an option as landlords look to tie down long-term tenancies to safeguard their income.
For lots of renters, longer tenancies are ideal. But with the rise of remote working, some don't want to wed themselves to one place for a year or longer. Instead, they seek the freedom to come and go as it suits them.
Co-Living offers that lifestyle, with some communities even letting you stay for as little as one night. Others require you to stay for longer but still offer a type of flexibility rarely found in the private rental sector.
Amenities too good to turn down
Co-Living communities let residents enjoy the type of amenities that would often be out of reach for many renters. Even in a world of coronavirus, these perks will still hold weight. Some buildings offer luxury social spaces that include cinemas, fitness studios and spas.
Such amenities align with the modern renters' demands but come at a more affordable price than your typical high-end apartment building with all the trimmings. The entire approach to Co-Living is shrouded in luxury, and for many renters, these perks are enticing.
That's not to say they will put luxury before safety. But with possible vaccines on the horizon and a lower number of cases, confidence will gradually return.
A Co-Living future
Renters have never had so many options in the rental market, and Co-Living is another way of renting a home that offers variety. Covid-19 may have slowed its growth temporality, but the future still looks bright for a living option that taps into the mindset of modern-day renters with an emphasis on social interactions.