The co-living lifestyle is becoming ever-more prominent in the UK. Steadily rising housing prices, and issues with availability in urban areas have meant that many young professionals are simply unable to afford or find a place to call their own. People are expecting more for their money too, such as high-quality amenities and having everything included in one monthly payment. Another factor fuelling the co-living phenomenon is the changing nature of society. More people are either working remotely or splitting their time between home and the office, creating a greater need for a sense of community and belonging. Co-living offers all of this, and much more besides.
Although it may not seem like it, the core concept of co-living is nothing new. Purpose-built student accommodation has been around for decades, with residents having private bedrooms and shared access to communal kitchens and lounging areas. With co-living, additional recreational areas are added to the mix — such as gyms, coworking spaces, coffee shops, restaurants and cinemas. Everything tenants could possibly want is under one roof, giving them the perfect combination of community and privacy. All of this makes co-living a fantastic choice for landlords looking to diversify their portfolio and make a greater return on their investment.
Should landlords decide to go down this route, the next thing to consider will be co-living design. Much like student accommodation, the environment must be stylish, comfortable, and inviting — with beautiful furniture that’s fit for purpose, hard-wearing, and conforms to multiple safety regulations. While this may seem like a tall order, getting everything taken care of is incredibly straightforward if you know who to work with. LOFT’s award-winning interior designers are adept at creating stunning concepts that your tenants will love. Get in touch with a member of our team today to find out more about what we can do for you.