How should a property buyer decide between investing in a co-living space or converting an existing property into one, to earn rental income? We examine the benefits and drawbacks of each.
Tenants who are students or at the beginning of their careers may not be able to live in a property that commands a high rental. They usually live alone in metro cities, to complete their education or earn a living. Co-living spaces enable people to easily afford the high cost of living in big cities without the burden of renting an apartment and paying for food and other expenses.
“Despite the fact that tenants will change from time to time, co-living spaces can generate some steady rental income.”
The co-living spaces should be designed with the following factors in mind
Tenant schedules that are uncertain
A current customer’s contemporary needs
Providing services such as entertainment, safety, security and laundry, as well as repairs and maintenance, without spending too much money
The benefits of investing in co-living spaces
Rental income remains high despite market slowdown
Availability of tenants is easy
Allows rental income to be adjusted for inflation
Investors can easily maintain the property
I hope you have found the blog helpful in understanding the criteria while investing in living spaces from rental income. However, if you have any questions or comments, you can reach out to us at email@example.com. Any concerns or suggestions you have will be taken into consideration.
Kishan Thakkar is working as a writer for the real estate and architecture industry. His experience includes working for various reputed firms. He is currently pursuing MBA in Business Management and handling operations for The Real Talks platform. He has a penchant for research, analysis, and understanding various fields. Discipline is the key to balance his diversified interest and work routine.