More people are on the move than ever before, making a short team lease arrangement highly desirable.
Are There Safety Concerns with a Shared Room Near Me?
When people ask me, “are there safety concerns with a shared room near me?” I get it. It’s a jungle out there.
In a typical shared apartment or shared room, a resident is on the lease and it’s their job to interview and screen potential roommates. This can provide plenty of opportunities for the lease-holder to scrutinize an applicant. In contrast, in the case of co-living spaces, it’s usually the co-living company that screens applicants for you. It’s important to be sure that the co-living company is doing their due diligence in covering background checks and interview screening to secure reputable roommates and preserve the safety of the co-living space and current residents.
Another consideration as far as safety is concerned is to have a clear idea of what methods are in place if issues do arise. This may be as benign as roommates in a shared room having incompatible taste in music or a personality conflict. Or, it can include more serious situations involving inappropriate behavior and theft.
What Strategies do Co-Living Companies have in Place to Vet Shared Room Near Me?
If I were trying to find a shared room near me and interested in co-living, I’d visit as many co-living spaces as I could, trying to envision myself in each one. This is where co-living companies who offer open houses and community events have the upper hand - these are prime tactics to help quell fears in potential applicants in what is seen as uncharted ground.
Legit co-living companies will invest resources in staff to help manage the co-living space. Depending on the number of residents in the co-living unit, the staff may be onsite (for larger buildings) or offsite (for residences with 3-6 flatmates sharing a large house).
Every co-living company has a different M.O in terms of who lives in a shared room. Some, such as Treehouse in Los Angeles is built on a foundation of community. New applicants are invited to visit the building during open house events, in which they can meet potential flatmates. Applicants are not chosen by management alone; the current residents may view the applications and contribute to a consensus on who would be a good fit for the residence.
Other companies approach residents from a more technological model, leveraging AI. For example, with a name and social media profile, the algorithm can scan everything you’ve ever posted, gaining a balanced view of who you are and what you like. Then, the program will go on to match you with another roomie who compliments your profile. These matches tend to be highly accurate.
Okay, you may be thinking - “I’m used to Craigslist to find a shared room near me. This co-living stuff is too new”…
While co-living is a new concept for many, consider how relatively recent companies such as Airbnb and Uber were once new and considered risky, but have gone on to disrupt entire industries. Every move requires due diligence, such as researching the quality of schools and the safety of the neighborhood to vetting the management company. Likewise, research and commonsense are required for a new move to a co-living space.
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Delphine Nguyen, Investor
Delphine Nguyen is a real estate investor and a licensed real estate broker in Illinois. She learned to be successful from a variety teachers, including her own mistakes. Real estate investing is her passion. Helping others to achieve their goals is another passion that she has. She does what she knows best, therefore, her focus is solely on multifamily and co-living investment types.
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Co-living spaces have a higher revenue per unit than traditional one unit per family/tenant rentals.
Are you ready to take a tour of co-living buildings? Good. Imagine you live in Atlanta