How Proptech Helps Co-Living Properties to Reap Benefits?

Operators have a wide range of hurdles when it comes to co-living. Still, proper technology can provide a co-living experience appealing to residents while also allowing operators to operate efficiently at scale.

Fremont, CA: Developers and operators are beginning to recognize the demand for co-living and the benefits it provides, with this new urban living model meeting a genuine demand for city living alternatives, fueled by a housing shortage affordability, credit conditions for first-time home buyers, and changing lifestyles.

There is also growing awareness of the convergence between co-living and proptech because a really effective co-living company cannot exist without integrating technology. Proptech is a vital component of co-living space planning and design, with an integrated software platform at the core of combining the two fundamental success aspects of co-living—a great resident experience and a sustainable operator business model.

Operators have a variety of hurdles when it comes to co-living. Still, proper technology can provide a co-living experience appealing to residents while also allowing operators to operate efficiently at scale.

This platform enables flawless access control experiences while effortlessly interconnecting with a slew of other management systems to provide tenants with all of the autonomy and amenities they expect from their new home.

Let’s check how co-living is growing with the help of proptech

• The one vs. the many

Co-living is the concept of community. It's not a bunch of strangers living in a house; it's the gathering of like-minded people into a happy "extended family."

The difficulty for operators is to create a climate that supports community growth while still ensuring individuals' safety and security.

Technology can assist operators in striking a balance between personal safety, individual liberties, and communal peace.

• Create tailored, precise access

Of course, smart access solutions can ensure that each resident and perhaps the only resident has accessibility to their room. Utilizing their smartphone as a "key," they may gain entry quickly and easily.

It may also imply access to the bike storage area and unlocking their bike rack if they get listed as possessing a bike.

• Keep the community safe

Keys are lost, duplicated, and occasionally "given out" to a friend, all of which may jeopardize community safety by enabling non-members of both the community access to the co-living space.

When the resident's "key" is their smartphone, losing, lending, and copying become non-issues, and the neighborhood has the mental peace of knowing who's in their house.

 

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