Co-working has changed how people think of their 9 to 5. Catering to freelancers, frequent travelers and teleworkers, these spaces offer the ambiance of a hip start-up with the convenience and affordability made possible by sharing office resources like WiFi, meeting space and a communal kitchen. The draw has proven powerful; the number of shared workspaces has roughly doubled each year since 2006.
When the popularity of co-working gave rise to co-living, critics dismissed the tiny units with access to shared common space and amenities as “adult dorm rooms,” but they’re much more nuanced than that. Flexible leases, fully furnished units, pre-arranged utilities and shared amenities are often nicer than an individual tenant could afford. Co-living also presents an ideal solution for those in transition or people looking for a deeper sense of community (which, studies show, is a major contributing factor to tenant retention).