Co-living Homes and the Cost-of-living Crisis

Welcome to Home Relief Bulletin Board!

Post No. 245

by Your Freelance e-Property Letting Agency

coliving

How to minimise the detrimental impacts of the cost-of-living crisis on co-housing setup

This week starting 16 May 2022, we will be working with those renters who have been forced to take the co-living path/option in the property market. We are as well going to work with private landlords/ladies who provide or may want to provide co-living accommodation. There are reasons why the two sides of co-living agreement may want this sort of arrangement.

Why do renters co-live and landlords/ladies provide co-living properties?

Not everybody can afford to rent outright the full house or flat by themselves. Those living on low income may be forced to share with others. They could as well have serious other reasons pushing them to go co-living. Amongst the co-living renters, there are young people, students, families, older generation, etc.

Landlords/ladies may too have their own motive that leads them to provide this sort of accommodation. It is could more convenient or cost-effective for them to invest in this sort of co-living properties than to letting and managing other types of properties. 

Whatever the reason both landlords/ladies and renters may have, they need to understand this rental model before embracing it.

What is a co-living home?

Within the property jargon or literature, co-living home is on average defined as a residential home living model that accommodates two or more biologically unrelated people or individuals. It is part of sharing economy and can have some benefits such as access to locations (or areas) and properties that a co-living renter may otherwise not afford. However, like any other products or services in the housing market, the co-living rental model has not been exempted from the damaging effects of the current cost-of-living crisis.

Cost-of-living crisis as a challenge or opportunity to co-living setup

The cost-of-living crisis could be a challenge or an opportunity for the two sides of the rental agreement.

~ Landlords/ladies and the cost-of-living crisis

The cost-of-living crisis could be an opportunity for landlords/ladies to raise rent and services related to their property to match up the current level of inflation. On the contrary, it could be a challenge if they are not able to meet the cost of running their property or upgrade it.

~ Co-living renters and the cost-of-living crisis

The cost-of-living crisis can be a challenge for renters who may have to face rising rent, utility bills, council tax and other services linked to the property they rent or may rent. On the other hand, it could be an opportunity for them if they receive support towards their rising rental costs.

So, a co-living rental model could have some challenges to address and opportunities to take for both landlords/ladies and co-living renters.

Navigating way out the challenges posed by the cost-of-living crisis

This week, we are going to work with both landlords/ladies and renters to find out ways of minimising the impacts of the cost-of-living crisis on co-living homes. 

After working together with them, one can hope that each party will be able to navigate their own way out any negative impacts from the cost-of-living crisis on the co-living rental setup. 

Interested in the topic of Co-living Homes

Those landlords/ladies and renters who would be interested in this week’s topic of co-living homes, they are free to contact Home Relief.

Need help and support about Co-living Homes this Spring

Those landlords/ladies and renters who would need some help and support about Co-living Homes, they are also free to contact Home Relief.

Need us to visit your property and advise you on co-living matters, please work with Home Relief.

Looking for an affordable location and home

If you are looking for an affordable location and home, Home Relief is the people dealing with affordable homes you could consider in your property searches and enquiries.

For more information about our property service to home buyers and tenants, please go to https://homerelief.co/tenants/

For more information about our property service to home sellers and landlords/ladies, please go to https://homerelief.co/landlord

For properties to rent and let, please go to https://homerelief.co/property-search/

For weekly property news and updates, please read our weekly posts.

Thank you for reading this post.

We look forward to receiving your regular visits to Home Relief website and to doing business with you throughout the year.

Many thanks!

Home Relief – Freelance e-property people dealing with affordable homes

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