Are Co-Living Renters Right for Your Business?
Why are so many young people interested in this living situation? Here’s what you need to know if you are considering offering co-living units in your properties.
If you were to close your eyes and try to create an image of the average resident, what would you see? How old are they, and where do they live?
If you see a person in their late 20s/early 30s in an urban environment, you’re picturing someone who makes up the largest renting block in the nation.
Here’s an important fact.
Half of all renters are under 30 years old.
It’s no wonder that many property managers want to add rental perks that appeal to millennials. Sometimes, it’s not just the perks that matter. It’s whether the property manager offers a co-living apartment.
In a co-living rental situation, renters get a private room with shared living spaces (e.g., bathroom, kitchen, living room). Some of these apartments are large and house many residents.
