Lend Me Your Expertise

[HenryProduct2021]

I'm sure many of you will have heard about Co-Living. Creating greater margins for Landlords while joining people together and create a sense of connection and community. This all sounds amazing but is it being done the right way?

My names Henry and I have recently taken over as a Product Owner for a large London based Co-Living company. I am on a mission to make a product that is great for Landlords but I need your help. I really want to understand what you guys hate and what you love. 

If you could spare me 10 minutes of your time, it would make my day! 

I really look forward to talking to you all. 

Henry 

 

[Richlist]

I've been a landlord for 20+ years and never ever heard of Co-Living. Your post doesn't give any clues for those of us in the dark.

Is it something I can either make a lot of money from or have a lot of fun with ? 

[HenryProduct2021]

Of course! 

Co-living takes a property, usually 3-6 beds, and rents out the individual rooms. Increasing the margin on the home. The great thing about co-living is that if it is done right, it brings like minded people together in a space they can call home. This is where it changes from just being a great way to increase returns on a home and starts to become a way to make a meaningful change in someones life. 

There are added benefits to a landlord such as yourself, with less chance of catastrophic void as only a single room churns at a time. We also find that if you are operating an HMO it helps with stopping tenants from churning as often as they find meaningful connection in the home rather than just a place to stay. 

With larger Co-living companies you also get the benefit of tenants meeting/interacting with other members of the larger community, which adds to the effects above. 

 

I hope this sheds a little light on the concept.

 

I would love to pick your brain on initial thoughts on this product from a landlords point of view. 

[Richlist]

This sounds like a load of trouble and wouldn't be something I'd be interested in. I wouldnt touch an HMO and this seems like a slightly different version of what I usually recommend people avoid at all costs.

As a landlord I've never looked to make 'a meaningful change to someone's life'. That's not what landlording is about. People need to take responsibility for their situation not rely on a landlord to do it for them. We aren't social workers and I resent the Gov' and others trying to make out we are. 

[HenryProduct2021]

Thanks, 

That is a really interesting insight. 

I hope you have a lovely weekend

[fionaf]

I too hadn’t heard of co-living but it does sound like an HMO. I looked at this for a property once but the council licensing and extra regulations just made it non-viable both financially and time-wise. 
 

I do end up being a quasi social worker and financial adviser sometimes but doing that on a bigger scale just isn’t attractive. I found it harrowing enough dealing with a mother who couldn’t afford her rent but could afford £200 pm on sky tv and £50pm mobile phone contract and £300pm car deal and £100pm on beauty treatments. But she was going to a food bank and ended up being evicted owing thousands.
 

I will happily help people if they can then use that knowledge to help themselves but not trap them in a bubble of reliance which these schemes sound a bit like something they’d have trouble breaking free from.