What’s There to Know About Co-Living in NYC?

 

 

 

 

New York City (NYC) never sleeps. It’s a destination of opportunity, of new ideas, and of dreams made and broken. It’s also one incredibly expensive place to live, so don’t worry if you’re blanching at how high those studio rents currently are, or the dire straits of some of the options out on the market. NYC living has always been an interesting experience, which is why people typically opt to co-live.

Co-living is essentially living with roommates. The difference is that you don’t all need to stay together to keep the apartment. You also don’t need to find someone to take your tenancy off your hands if you want to move somewhere else.

While the actual process of living may feel exactly the same, there are a few key differences that make co-living arrangements far superior to your traditional roommate situation. It can be a bit confusing, so if you’re looking for the answer, here’s your guide.

 

 * You Rent the Room, You Don’t Share Rent
 

There are some properties that offer multiple bedrooms at a single monthly rate. This means that you need to come to the table with the number of people you want to live with and how you want to split the rent. This is the classic roommate experience. If someone leaves, you’ll need to find a replacement yourselves.

In a co-living environment, you rent the room and the room only. You have your own tenancy and that means you can leave without needing to find someone to take over your room – the building or management company will do that for you. This makes it so much easier to be flexible and adapt your living situation to your needs.

 

 * You Don’t Need to Know Who You’re Living With
 

You also don’t need to have a big list of friends before you rent. With shared apartments in NYC you can move into a shared living situation without actually knowing anyone in the city. This allows those who are new to the area to gain access to the cost savings of shared living, without having to go through the arduous process of interviewing for available sublets.

What this means for those moving into the city is that you can secure your rent in advance, instead of, say, renting a hotel room while you try to find somewhere more permanent to live.

 

 * You’ll Get Extra Perks
 

These shared apartments in NYC offer more than a room and a shared living room, bathroom, and kitchen. The top options will also offer included building amenities that you are free to use, such as a co-working space, lobby spaces, a rooftop garden, or even a gym. Some perks may require an additional cost, but that cost will be far less than what it would be if you looked elsewhere.

Another common perk when you live in a modern, shared apartment managed by a building manager or association (as opposed to an apartment that’s been spliced multiple times to increase bedroom space) is that you may even get great move-in rates and deals. You may, for example, get a few weeks free. There are always these promotions going on, helping you get into your new home, for less.

 

 * You Get Traditional Renter’s Perks, but Often Better
 

One of the biggest benefits of renting over buying is that you have someone to go to for regular maintenance and repairs, most of which should be covered by your landlord. When you rent in the private market, these services can be slow, or just straight-up terrible. When you rent through a modern building in a purpose-built flat, you’ll typically get a greater level of service and care.