+1 that a great co-living space can be a huge quality of life improvement! My day-to-day sense of happiness and belonging in SF increased enormously once I moved into a place with friends.
One other meaningful benefit of coordinating a housing group (at least in California) is that you can freeze your starting rent rate. E.g., a four-bedroom unit in the building I lived in was listing at $6,500/month in 2022 when friends and I moved in. A group moved in, then vacated last year. The landlord then successfully re-listed the same unit at $9k/month (a 38% increase). Meanwhile the rent in our unit has only increased by ~2% over the last four years because CA rent protections only allow a landlord to increase rent by a modest, state-set annual cost-of-living/inflation rate.
Had that 4-bedroom been able to Theseus’ ship the move-out transition—changing the names on the lease to other friends/EAs gradually without fully vacating—they would be able to save $28,440 ($7,110 per resident) per year in perpetuity.
+1 that a great co-living space can be a huge quality of life improvement! My day-to-day sense of happiness and belonging in SF increased enormously once I moved into a place with friends.
One other meaningful benefit of coordinating a housing group (at least in California) is that you can freeze your starting rent rate. E.g., a four-bedroom unit in the building I lived in was listing at $6,500/month in 2022 when friends and I moved in. A group moved in, then vacated last year. The landlord then successfully re-listed the same unit at $9k/month (a 38% increase). Meanwhile the rent in our unit has only increased by ~2% over the last four years because CA rent protections only allow a landlord to increase rent by a modest, state-set annual cost-of-living/inflation rate.
Had that 4-bedroom been able to Theseus’ ship the move-out transition—changing the names on the lease to other friends/EAs gradually without fully vacating—they would be able to save $28,440 ($7,110 per resident) per year in perpetuity.