No, not sharing a flat, studio, bungalow, apartment, but sharing a home. The first thing to mind for me, MTV’s The Real World. But…the more I read into it, the more appealing it sounds. The idea is sold as a home with fantastic amenities right in the dead center of the city, and at an incredible price. The only catch is that the tenants are only renting a room in the unit, and sharing the common areas.
A property in Brooklyn’s Williamsburg area called Havemeyer home is a 20,000 Square-foot residential development. Specifically built to accommodate community living. It’s “…12 “suites” that encompass a total of 51 beds. Living rooms, kitchens, and most bathrooms are shared spaces, but more-expensive units offer a private bath.” Kayla Devon, Editor for Hanley Woods (follow her on twitter @KaylaDevon_HW). The selling point is that regardless of the shared living space outside their private bedroom, the property offers a lounge room, cinema room, and a wellness room for group fitness.
Can it be done? Well, it has been. It turns out that this shared living phenomenon has been around since the early 20th century. The millennials are bringing it back in full force.
Why not? It goes right with the trendy idea of minimalism, using only what you need. These units come fully furnished. Makes it easy for the millennials, they just move in straight from their folk’s house anyway. It’s a perfect sell. Plus, included in the rent is a laundry facility, Wi-Fi, a weekly cleaning service, and kitchens fully stocked with cooking utensils.
The idea is to share the spaces. Hang out and watch TV, do group fitness, be in a community book club, and host a potluck. Now potluck is unlikely in my eyes. Hard to host a potluck when you share a kitchen. I have no doubt most of the residents eat out more than in.
On that note, what if a fellow resident eats your food? Or there are relationship issues? I wonder what rules they have to come up with for having company. Everyone has had that squatter friend, family member, or a friend with benefits. It happens. The owners have thought of that too. To accommodate potential issues, they created a role for “house leaders.” They are like the resident assistants in college dorms. The house leaders get discounted rent but manage resident issues.
This co-living trend is taking the multifamily industry in popular cities by storm. I say it beats sharing a studio with strangers. If you have to share the space anyway per the cost of living, might as well do it with these attractive perks. The rent difference at Williamsburg’s Havemeyer Home is at least $950 a month as the rent starts there at $2,050 and the average rent for the area is over $3,000 a month.
Floorplans for Havemeyer: https://www.common.com/havemeyer/
See Kayla Devon’s full article here: http://www.multifamilyexecutive.com/property-management/inside-commons-bet-on-coliving_o