EC21: Brad's Interview on Common Bankruptcy, Finding the Right Fit for Community, Fractional Ownership in Coliving, and Global Coliving News.

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(The following content is written by Mayank Pokharna. You can reach out to him in case you want to chat more about all things coliving)

🔁📝Last week, we coveredthe UK living market and multigenerational coliving models, which tie into today’s focus on community fit and fractional ownership. You can revisit our last article here:

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"Finding the right fit in a community is about aligning on core values and priorities. It's not about fitting into any community; it's about finding the community that fits you." - Renee Fleming

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Brad Hargreaves on Common’s Bankruptcy

We have been reading comments from various people in the industry talking about why Common failed. Was it the business models, unit economics, a lack of community approach, or something else?

Many people reached out to us for comments, but we wanted to get the thoughts from source. So here we are. We spoke to Brad Hargreaves and asked: What happened to Common?

A lot of us may have a contrarian view on this, and we would love to speak to anyone who can shed more light on it so that we can learn from it, share with our industry peers, and push the industry forward.

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Are You Looking To Start A Coliving Business?

We have something coming up for you that can help you build a sustainable coliving business.

If you are interested, please reply to this email or mail us at coliving@everythingcoliving.com, and we will get back to you.

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Finding The Right Fit For Your Community

Living with people who share similar priorities is crucial. Just as with life partners, where alignment on money, sex, and kids is vital, in communal living, agreement on money, guests, and succession is key.

• Money: Agree on spending principles. Whether it's hiring help, splitting expenses, or deciding on the quality of household items, alignment on financial matters prevents conflicts.
• Guests: Some prefer an open-door policy, while others want a sanctuary. Ensuring all residents agree on guest policies maintains harmony.
• Succession: Finding new roommates regularly is common. Deciding on a fair process for choosing new residents is essential to maintaining the community culture.

Read more on what Gillian Morris has to say about the topic.

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Fractional Ownership in Coliving

Coliving and fractional ownership have the potential to solve the housing affordability crisis that is looming across the world.

Case in point: Canada. Evidence continues to pile up, revealing that housing affordability is getting worse in Canada, particularly in major cities like Toronto and Vancouver. According to the National Bank of Canada’s Housing Affordableness Monitor, the time required to save for the down payment on a representative home at a savings rate of 10% is close to 342 months in Vancouver and 92 months in Toronto.

Fractional ownership, or “shared equity," is a novel concept that allows home buyers and homeowners to tap into the future value of their homes in exchange for cash. An investment company offers funds in exchange for a share of the home’s growth, providing homeowners with an alternative option to a home equity line of credit (HELCO) and allowing home buyers to substantially increase their down payment at the time of purchase. Source: R-LABS Canada

Read more on this here.

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Everything Else Coliving

• Outpost Club is going to take over thousands of Common's coliving units.
• New Coliving launched in Las Palmas, Gran Canaria; Repeople opened its first garden house.
• Montino Coliving, a community living in the mountains overlooking Lake Maggiore, is crowdfunding for their first project. If you are interested, you can find more information here.
• If you're looking to create a financial forecast for your coliving business, check out this tool that can help you.
• Coliving seemed like a perfect solution to the Gen Z and millennial housing shortage—but the closure of yet another pioneer reveals an uncertain future
• Another office conversion to Coliving Space: Calq and Bond Society convert 1970s office into co-working and co-living space
• If you want to read academic research on coliving as an affordable housing solution in South Africa, you can read it in detail here.
• On one side, we have Common going bankrupt in the USA, and on the other, we have Embassy Group hospitality firm Olive clocking 76 percent revenue growth in FY24 to Rs 51 crore in India.
• Listen to Panel: Lessons Learned From Building Coliving And Village Projects
• If you are looking for volunteer opportunities in coliving communities across the world, head here and see if something is of interest.

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If you want us to cover anything, please mail it to us on coliving@everythingcoliving.com

Gui Perdrix & Mayank Pokharna
The Artof.Co team

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🆕 Up Next:

🔗 EC22: Coliving: Housing Crisis Solution or Just Maximizing Rent, Ishan's Life-Changing Coliving Experience, CasaMia Coliving, and Global Coliving News.

🔗 EC23: LL18 Fueling Coliving in NY, Multigenerational Coliving, Coliving Community Program, Roommate Matching, and Global Coliving News.