How Proptech and Coliving Redefine the Future of Accommodation

The coliving movement is the most recent manifestation of a long-running human trend. Everyone has seen the act of communally sharing space and resources while profiting from a supportive group time and again throughout history. A place that everyone can call home meets a variety of needs.

Fremont, CA: As technology advances at a rapid pace, the possibilities for where and how new technologies might be applied are limitless. The real estate sector is one example of how new technology, such as smarter video monitoring, is being used to improve the quality of life for families and communities by boosting security and implementing adjustments based on new insights.

Cloud-based video surveillance, in particular, is assisting operators in improving communal spaces for their tenants in ways that on-premises surveillance never could. From increased security to improved social areas, here are some of the ways coliving is benefiting from the PropTech boom.

The Definition of Coliving

The coliving movement is the most recent manifestation of a long-running human trend. Everyone has seen the act of communally sharing space and resources while profiting from a supportive group time and again throughout history. A place that everyone can call home meets a variety of needs. The concept of shared spaces and the ability to work and socialize together is no more just a passing fad. Cloud-based video surveillance, in particular, is assisting operators in improving communal spaces for their tenants in ways that on-premises surveillance never could.

As living prices rise, many individuals – particularly the young – find it difficult to get on the housing ladder, and renting an apartment alone can feel alienating. Coliving spaces provide a ready-made community, and many obligations – such as upkeep, for instance – fall on the building owners, with the cost included.

Where does PropTech come in?

PropTech is fundamentally altering the way people study, rent, buy, sell, and manage real estate. The internet, massive processing capacity, cloud platforms, and artificial intelligence (AI) have all combined to develop technologies that are reshaping the whole property industry. PropTech is a growing industry that helps buildings operate more effectively and even become more sustainable.

PropTech is assisting in making coliving settings safer and wiser for the people who reside there. People's safety is an important aspect of building design. Following a year in which health was at the forefront of everyone's concerns, PropTech is allowing touchless entrances and novel ventilation systems, for example. Even without considering the pandemic, people living in shared spaces need to be convinced that security is well-managed and that management wants to ensure that only renters and their guests are allowed to enter the facilities.

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