Coliving Yield vs BTR Calculator
See how the same asset performs as Coliving, Buy-to-Let, and Holiday Let. Side-by-side P&L, cap rates, IRR, and break-even occupancy across major global markets.
How It Works
Enter Your Deal
Purchase price, market, bedrooms, operating model, and target IRR. Defaults reflect typical mid-market deals you can adjust.
See Three Scenarios Side-by-Side
Coliving (per-bed), BTR (whole property), and Holiday Let. Compare gross revenue, opex, NOI, cap rate, IRR, and break-even occupancy.
Download the Underwriting Memo
Branded PDF with full P&L tables, sensitivity analysis at -20% occupancy, recommended scenario, and 5 reasons why coliving wins (or doesn't) in your market.
Deal Inputs
Enter your deal inputs and click "Calculate Yield Comparison" to see Coliving vs BTR vs Holiday Let side-by-side.
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Why coliving consistently beats BTR — and when it doesn't
Most investors evaluate residential assets through a Buy-to-Let lens because BTR is the operating model they understand. The math is simple, the leases are long, and the operating risk is minimal. But on a per-square-meter basis, coliving routinely generates 30-80% more revenue than BTR on the same asset — sometimes more in tight urban markets where per-bed rents have decoupled from whole-property rents.
The reason: coliving converts the property into multiple revenue lines (rent, utilities, ancillaries, services), prices per bed instead of per unit, and reprices 1-2x per year instead of every 12 months. The trade-off is operational: you need community managers, higher marketing spend, more turnover, and a tech stack that handles per-bed billing. The headline yield is bigger, but so is the opex.
Holiday Lets sit in the middle on revenue but carry the highest regulatory and seasonality risk. Cities from Barcelona to Lisbon to NYC have introduced short-term rental caps that wiped out IRRs overnight. The right answer to 'what should I do with this asset?' depends on your market, your operating capability, and your risk tolerance — not just the gross yield.
This calculator surfaces all three scenarios on the same asset, models the P&L line-by-line, and gives you the cap rate and IRR you need to walk into an investment committee with a real answer.
Built for everyone underwriting a residential asset
Specific scenarios where the side-by-side comparison creates a clear decision.
You own (or are about to buy) a property and someone has pitched you on coliving. Run all three models to see if coliving actually beats your default BTR plan on this specific asset.
You have a 4-6 bedroom property currently leased BTR. Use the calculator to see whether converting to coliving justifies the renovation and operational complexity.
Bring a coherent yield narrative to your investor pitch. The side-by-side table is the page that closes LPs who default to BTR comparisons.
Compare returns under master-lease, owner-operator, and management-contract structures. Pick the structure that matches your appetite for operational involvement.
Short-term rental regulation tightening in your city? Model the same asset as coliving to see whether the regulatory hedge is also a yield upgrade.
Run each property through all three scenarios to identify the assets where the current operating model is leaving money on the table.
What you'll get
A side-by-side P&L and a downloadable underwriting memo for IC.
- Side-by-side P&L: gross revenue, opex, NOI for Coliving / BTR / Holiday Let
- Cap rate and 5-year IRR estimate for each scenario at your purchase price
- Break-even occupancy by scenario — the number that actually matters in a downturn
- Sensitivity analysis at -20% occupancy showing which scenario survives the recession
- Risk-adjusted score factoring regulatory, demand, and operational complexity
- Recommended scenario and the 5 reasons coliving wins (or doesn't) on this specific asset
Branded PDF unlocked for distribution. Take it directly to your IC or LP meeting.
The numbers that drive the comparison
revenue uplift coliving typically delivers vs BTR on the same asset
EC operator dataset
higher opex ratio for coliving vs BTR (community, marketing, turnover)
EC operator dataset
stabilised occupancy for well-run coliving vs ~95-98% for BTR
EC benchmarks
of cities now cap or restrict short-term rentals — risk premium for Holiday Let
Public regulatory data
The 5 mistakes investors make in this comparison
Underestimating coliving opex
Coliving needs community managers, higher marketing spend, and more turnover handling. If you model BTR opex with coliving rents, the headline yield looks irresistible — and unrealistic.
Modelling 100% stabilised occupancy from day one
New coliving properties take 3-6 months to ramp to 85%+ occupancy. Underwrite at stabilised occupancy and a realistic ramp curve, not month-one full.
Ignoring regulatory risk on Holiday Let
Holiday Let yields look great until your city caps short-term rentals. Bake regulatory risk into the IRR — or apply a 20-30% discount to gross revenue to stress-test.
Comparing gross yield instead of risk-adjusted return
Coliving has higher gross yield but more operational risk; BTR has lower gross yield but stable cash flow. Compare risk-adjusted return — which is exactly what this calculator's risk score does.
Skipping the sensitivity analysis
A scenario that wins at 90% occupancy but loses at 75% is fragile. The sensitivity row at -20% occupancy is the most important line in the output.
Tools that pair with this comparison
Once you know coliving wins, use these to underwrite the deal.
ROI Calculator
Drill into the coliving scenario with detailed monthly profit and payback period.
Try it free →Break-Even Calculator
How many beds at what price you need to cover all costs at your target margin.
Try it free →Capital Stack Optimizer
Recommended senior / mezz / equity structure for the deal you just underwrote.
Try it free →Cash Flow Projector
Build a 12-month cash-flow projection with seasonal adjustments and ramp-up.
Try it free →Frequently Asked Questions
What does this calculator do?
Where do the underlying assumptions come from?
Why does coliving usually generate more gross revenue than BTR?
How is 5-year IRR estimated?
What's the difference between the three operating models?
Why does the holiday-let column sometimes look the strongest?
How accurate are the cap rates?
Can I use this for institutional underwriting?
Underwriting a Coliving Deal?
Our team helps investors model, due-diligence, and structure coliving acquisitions and conversions across markets.