Flat sharing or co-living: which is the right one for you?
There are many reasons to look at alternatives to traditional accommodation – financial, social or even energy considerations. Two of the potential solutions stand out and their success is growing – flat sharing and co-living. What does it entail?
Are you thinking about buying a property but are really struggling to find accommodation within your budget? Are you more interested in renting than buying? Are you looking for spacious housing but don’t have the budget to rent it on your own? Have you just arrived in Luxembourg and are looking to meet new people? Flat sharing or co-living are probably right for you. myLIFE provides a quick overview of their advantages and the main differences between the two.
What is co-living?
More or less everyone has a good idea of what is meant by a traditional flat share. It refers to adults, who may be young or sometimes less young, sharing everyday life within traditional accommodation that includes both private areas (sometimes just a bedroom) and communal spaces. On the other hand, the recent concept of co-living remains rather vague for many. This new type of accommodation within blocks of flats or large houses was designed to meet the personal and professional requirement of adults today. The way that we live and work is constantly evolving and many workers see co-living as a response to their housing requirements. Co-living is the perfect mix of flat sharing, co-working and hotel services.
Whereas the private areas generally include a bathroom and sometimes a kitchenette, the wide range of communal spaces is what distinguishes co-living. These communal spaces may be limited to a living room and a kitchen, but may also include work areas, a sauna, gym or leisure area, balconies, a library or restaurants that are open to everyone. Co-living may also include services that make everyday life easier, such as laundry or concierge services – it’s ideal for those here on a brief work assignment or struggling to find accommodation on their arrival.
Co-living is proving very popular in Luxembourg, not just because it matches the expectations of today’s tenants, but also because the country has the second-highest immigration rate in Europe.
Co-living is proving very popular in Luxembourg, not just because it matches the expectations of today’s tenants in terms of services and flexibility, but also because the country has the second-highest immigration rate in Europe.
Flat sharing or co-living: same difference?
The distinction between flat sharing and co-living is not always clear in the minds of tenants. You often hear co-living referred to as the new upmarket version of flat sharing. Although both offer the possibility of communal living in a tight real estate market, the concepts differ on several points.
| Flat sharing | Co-living | |
|---|---|---|
| Tenants | With this type of accommodation, the tenants often know each other and decide to live together, during their studies, for example. Flat sharing is a success with those looking for a permanent set-up and who are ready to share everyday life. | Although it is open to anyone, co-living mostly attracts young professionals aged 25 to 35, who may be expats or interns who are also looking for somewhere to work from home. Those opting for this alternative are generally part of a dynamic community. |
| Personal space | Each tenant has their own bedroom, but the communal areas – kitchen, living room, bathroom, etc. – are shared and it’s generally a friendly environment. | Tenants have their own private areas (a room, apartment or studio, bathroom and sometimes a kitchenette). A fully equipped kitchen, living room and communal living spaces are available within the accommodation and the building for working, sports activities, relaxing and hanging out. |
| Services | With a traditional flat share, the owner may sometimes provide a garage or bike shed. | Concierge services, gym, cinema, free Wi-Fi, organised parties and outings, supplier contracts – the managers may offer all kinds of options. |
| Design | Each individual looks after the decoration of their own personal space, with communal areas decided on jointly. | Specific focus is placed on design and furniture to satisfy tenants. Communal areas are furnished by the managers. |
| Management | The lessor (agency or individual) takes care of the general upkeep of the housing, tenants themselves look after everyday tasks and contracts. | Management is handled by a specialised company which may use a digital app to welcome new residents, for communication purposes, visits, signature of the lease, organising activities, etc. |
| Term | This is often a long-term rental. The co-tenants jointly sign a single lease and take out insurance and their subscriptions to cover the same period. | With co-living, the length of stay is flexible, from a few weeks to a few months or more. Tenants can easily terminate their lease with very few administrative procedures required. |
| Cost | Flat sharing is preferred by those looking for a lower rent and to share the overheads, taxes and other costs linked to renting a property. | The price of a co-living unit is individually calculated and depends on the services included and the location of the accommodation. The price is sometimes higher than for a traditional flat share. |
Which is the best option?
As is often the case with myLIFE articles, we’re not here to tell you which is the best option – it all depends on your profile, what you want and how you live. If you are looking to share everyday life with people you trust or who have a similar outlook to you, and you want to save some money on rent, a flat share is probably a good option. Several specialised sites will help you find the perfect accommodation or flat mates. Appartager.lu, Furnished.lu and Justlanded.com are just a few examples. On the other hand, if you’re looking for a one-stop solution for a few months, and want to maintain some independence whilst taking advantage of top-notch services, it might be appropriate to consider co-living.
Flat sharing and co-living both work on the basis of sharing and communal living. However, there are some differences, both in terms of services, management, flexibility, cost and personal space. You must first be clear about your own expectations and habits in order to determine which alternative to traditional accommodation to choose.
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