Millennials who move out of their cities in search of a good education or better job opportunities are often bogged down by limited options that can balance the budget with the amenities they want. Students and young working professionals are not keen on sharing their space with peevish landlords or be burdened by regular maintenance and household tasks.
The managed accommodation market popularly referred to as co-living, solves their need for independence and takes over the day to day tasks of managing a house. Co-living is popular in major cities as a means of affordable living for students, workers, digital nomads, or individuals who are relocating.
In most traditional apartments the rent covers the roof above your head and little else. With co-living, your rent payment is all-inclusive- from high-speed WIFI and utilities to furniture and household necessities. A lot of traditional PG accommodations are not designed for easy roommate-living in mind. In fact, many apartments are one or two-bedroom units converted into many rooms, by cutting down on the size of private spaces, creating inadequate, cramped, shared spaces.
Co-living is a modern form of housing where you share a living space, interests, values, and experiences. One of the biggest advantages of co-living is that you can enjoy a hassle-free life and at the same time you won’t be lonely even though you have come into a new city, since you will be living with other people, becoming like a big family!
For a generation that is assumed to be distant and aloof, millennials do share a lot. From carpooling to cab sharing and co-working, young Indians have steadily moved to maximize the power of a close community. Some companies like Stanza Living are giving the plain world of PGs and Hostels a modern makeover.
Professionally-managed rental spaces like the ones provided by stanza living are designed to be a new home for residents. They focus on ensuring you get chef-cooked meals, enterprise-grade internet facility, professional laundry and housekeeping services, 24×7 security, and more so you don’t have to bother about anything.
These are dwellings promising a healthy blend of private space and community areas where residents can unwind. As millennials continue to migrate to high-priced urban areas in droves, these are economical offerings that also ensure you don’t have to compromise on your lifestyle.
These spaces are reasonably priced. For example, they will charge a monthly rent of anywhere between Rs 15,000 to Rs 20,000 in Noida, which is equivalent or lesser than any other paying guest in Noida with similar facilities, depending on single or shared occupancy. They also organize curated programs like dance evenings, adventure activities, and game nights for community integration of all residents in their properties.
The hostels come with the twin benefit of living in a hassle-free atmosphere as well as easing the anxiety of parents regarding their child’s safety. Further, once you are in a Stanza Living residence, you can enjoy a wide range of community activities like movie nights, games sessions, festival celebrations, and more. And most importantly, you don’t have to deal with persistent hassles like hidden costs, managing utility bills, dealing with nosey landlords, etc. The company signs proper rent agreements with each tenant so they are clear about their rights and responsibilities. They also allow transparent online payment options, issue receipts so there is clarity on your monthly rent.
Young millennials looking for a comfortable stay can now choose professionally managed operators over traditional renting solutions like local PGs/hostels, focusing on truly enjoyable living experiences.