Coliving Experience
What is coliving?
Coliving is a modern way of living in shared apartments that are very driven by the community aspect.
Coliving residencies promote sociability and shared experiences over traditional private residencies.
Tenants have their own room or studio within an apartment but will share communal facilities such as a kitchen, living room, games room, garden and so on. Coliving has particularly boomed in cities, as it works very well for young city dwellers. Due to the often flexible nature of the lease, tenants can explore new cities, with coliving being a great way to meet other like-minded people. Coliving facilities also tend to be fully serviced, so unlike renting privately, they include; weekly cleaning, WiFi, laundry services and sometimes even a gym, concierge and pool.
Coliving experience
So, what exactly do we mean when we say coliving experience? Well, coliving, similarly to coworking, has risen in popularity in recent years and the reason behind this all falls down to experience. Living alone can be extremely isolating, particularly in cities. Coliving combats this by focusing on building a buzzing community for like-minded individuals. Many coliving providers often offer events, perks and other amenities and services, making it easy for new residents to join in on community activities.
Another reason that the coliving experience has been gaining popularity for young people in cities is due to the rising costs of renting or purchasing a property. With the flexibility coliving offers, and the fact that they’re fully furnished and serviced means that young city dwellers can benefit from the perks of a coliving lifestyle without being tied down to long leases, and stacks of furniture to move around if they decide to travel, or move around.
Coliving technology
From coliving property management software to a mobile experience app for coliving communities, let’s take a look at the types of technologies coliving providers can take advantage of.
Coliving property management technology
Modern living providers need a modern way to run their operations. Property management software is a great way to digitise your operations, moving from traditional ledger systems or confusing manual spreadsheets. Property management technology includes everything from deposit management, digital contracts, onboarding and automated rental payments so that property managers can automate and simplify otherwise timely tasks.
There are several benefits of a property management solution for coliving providers, including:
- Tenants details can be easily tracked including contact information, payments and lease dates.
- Maintenance issues can be submitted, and tracked digitally, making it simple for residents to submit issues and for property managers to deal with.
- Accounting is made simple through the ability to take payments and track/report on them.
- Support coliving operators to create thriving resident and community experiences.
Appfolio is a SaaS solution that offers just this. Arthur is another example of a SaaS property management software. They allow the ability to integrate with other third-party software such as Signable and even custom integrations such as software you’re already using.
Coliving experience platform
Coliving is all about community and a modern way of city dwelling. People that decide to live in a coliving apartment are seeking the collaborative and social aspect of living in a shared space with like-minded individuals, and expect a modern and fresh approach. That’s where a coliving experience app comes in. A coliving experience app is a digital layer for residents, to explore relevant content, events, services, perks and to connect with their community.
Let’s take a look at some of the benefits of a coliving application:
- Engage tenants and ultimately drive increased loyalty through events that tenants can sign up to in the app, perks they can browse through and engaging news & articles. Even send them a push notification for timely announcements they’ll receive at their fingertips.
- Through the branded white-labelled application, your brand stays front and centre of tenants’ minds.
- Many coliving experience platforms allow for integrations – so connect with smart building technology to provide a more seamless building experience from mobile door access to in-app heating & lighting controls.
District technologies is a coliving experience platform that provides exactly this. The core functionalities mean you can hit the ground running with engaging your community, and with their published APIs integrations are made simple.
Smart building technology
Coliving is aimed at a young, vibrant and social city-dwelling demographic and therefore what a better way to add value to your modern and digital-savvy community than by getting smart. As mentioned above, smart building technology covers all sorts of things from mobile door access to heating & lighting controls and even real-time occupancy monitoring.
In a snapshot, here are some of the benefits of smart building tech:
– Reduced energy emissions through optimised HVAC and lighting – only being used when people are in.
Through occupancy monitoring you can drive greater efficiencies in the building – understanding what areas are being utilised, and what are not you can adapt the space where necessary.
Through the insights the sensors will collect, you can remove the guesswork that goes into planning your spaces and experiences.
To find out more about launching your very own coliving experience platform or to ask about integrating with a smart tech solution you currently have or are considering – get in touch with District Technologies.
Office building providers can also utilise this type of software to engage and retain tenants through tenant experience apps.