A facilitator in the rental space

A new generation of tech-driven property companies is reshaping the hitherto unorganized landscape of young professionals and student accommodation across India. These new developers are offering so-called “co-living” spaces to millennial professionals looking for affordable housing and friendly neighborhoods in new cities. The new buildings offer shared, well-furnished and sustainable living spaces with fully equipped state-of-the-art technology, efficient housekeeping services and common lounges. The experience isn’t impersonal like hotels, but with all the comforts, but it isn’t intrusive unlike the old school PG facilities where owners ruled. Therefore, cohabitation is becoming an obvious option for single immigrant professionals and higher education students.

What makes spaces attractive?

What has made spaces even more appealing to singles is the convenience and sense of community that these spaces offer people. Often new to town, struggling to find friends, made even more difficult in pandemic-induced scenarios – tech-savvy young millennials are flocking to these new spaces, lured by the fantastically maintained, sleek and clean premises that promise the digital connectivity and a sense of inclusion. With strict safety, social distancing and hygiene standards, shared apartments become an extended family unto themselves without the baggage that often comes with genetic ties.

Modern digital technology has proven to be a great enabler of this new concept of ultra-convenient, ultra-modern and user-friendly rental accommodation. From the location of the property to its virtual visualization, the organization of the logistics and the organization of the passage to the management of the places as well as its scaling have been made possible thanks to the use of technology. Indeed, the success of these co-living spaces for singles has proven to be so successful that many players are now evolving and expanding into rental home spaces with similar concepts.

Technology for smart cohabitation

Technology is integrated into the very heart of these co-living spaces, making them safer and more convenient for both the business and the residents who choose to live there.

Technology process support for onboarding and marketing:

As noted, right from finding the space, the paperwork, and the actual moving and installation, the processes are all digital. Companies are investing in AI and machine learning to continuously improve services, track customer behavior with data, and deliver tailored products. For example, efficient processes are in place for a virtually hands-off move-in. The companies offer, among other things, detailed 360° virtual tours, online reservations and the organization of trips for residents.

On-site technology for convenience and security

Most cohousing companies offer mobile apps that include built-in functionality for residents to report any issues, request meals, use laundry or housekeeping services, or even request room changes or roommate. The system logs complaints and constantly uses the data to push itself to perform better.

Understanding that safety and security is a top priority for residents, they ensure that strict security protocols are followed on the premises. These include biometrics and facial recognition systems, 24-hour concierges, video surveillance, and 24-hour security guards.

Remote management:

Most developers have taken into account highly effective remote management dashboards and visual data to enable necessary modifications on site to perfect life experiences without creating an intrusive physical presence. The companies are also careful to prohibit any invasion of privacy when using these methodologies.

Social distancing and socializing enabled by technology:

In the post-pandemic scenario, social distancing is a major concern for residents. At the same time, isolation issues top the distress list of a majority of people. Co-living spaces have mastered the art of ensuring safety and hygiene along with a sense of co-living. One of the main USPs of the cohousing industry is its reliance on the community. They ensure that technology is used optimally to create the necessary physical distance while ensuring digital gatherings to engender a sense of community. Thus, they organize baking workshops, online games, and even social evenings to facilitate interaction.

On the other hand, on-call doctors, virtual consultations and first aid facilities with trained paramedics are only a phone call away.

Technology to generate new business leads and leverage growth:

One of the things co-living space providers promote is the ease of living in cities. So if a user signs up in one city and needs to travel to another, they are assured of a seamless experience at company-managed facilities in all cities. Online reviews generated on social platforms also go a long way in raising awareness and generating leads for the business. Given the janitorial and maintenance services of these businesses, many non-resident landlords register with them to rent their space and list it with them.

Innovations in sustainable living:

In addition, co-living companies are constantly working on new innovations to help and improve the customer experience and find shared and sustainable solutions. From smart fridges and TVs to recording customer preferences using data analytics, companies are looking to offer tailored and personalized solutions to their loyal customer base, including examining food and decor preferences as well as that the optimal temperatures or aromas in their privacy. the spaces. Another thing co-living spaces are considering are gamification techniques to motivate tenant actions or trigger behavioral changes. These can then translate into increased participation in virtual events, help change their energy consumption habits and thus avoid waste. The developers are also looking to design spaces in a sustainable way, working with sustainable materials, using natural and solar lighting, among other off-the-shelf ideas.

The potential of the right technology enables sustainable living solutions in shared spaces, which goes a long way to fostering a more humane, sensitive and sustainable mindset. It’s no surprise, then, that cohabitation is seen as a viable solution to overcrowded cities and environmental degradation, as well as a way to conserve resources and live more harmoniously.



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The opinions expressed above are those of the author.



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