With the cost of a standard one-bedroom apartment up as much as 12% across the country as reported by Fortune, Americans in every tax bracket are looking for ways to save money. This pursuit of liveable rents is forcing renters to take some pretty drastic measures — like eight-people-in-one-apartment-drastic or renting-out-a-bathroom-drastic — but Common has a simple solution that doesn’t require sacrifice: coliving.
Coliving is a modern form of communal living which offers renters a private room in a fully-furnished apartment. The high cost of living in major cities has made coliving a great choice for renters looking to live the city life without breaking the bank, but with inflated housing costs plaguing the nation it has become an attractive option for many Americans — from St. Petersburg to St. Paul.
Attainable rates aren’t the only reason coliving is a great option for those looking to live the good life on a budget! In fact, here are five unexpected ways coliving can save you money.
Endless essentials
Imagine: you’re scarfing down breakfast before leaving for work (which you are already late for, ugh!) and you knock over your glass of orange juice. As the orange tidal wave surges toward the edge of the counter, you scramble for a paper towel — only to discover your roommate used the last of it, leaving behind the naked roll, to boot. With Common, this nightmarish scenario (and many others like it) are a thing of the past. Household essentials are on us, meaning there’ll be no fights over who used the last of the hand soap. Plus, this seemingly-minor expense adds up, and every penny counts when you’re trying to live the life of your dreams.
All-inclusive utilities
Ever had to ration air conditioning during sweltering summers to keep your utility bill down? We hope you haven’t, but the reality is that many of us likely have (your dear writer included!). Coliving at Common is all-inclusive, meaning that your utilities are on us. Seriously! Enjoy frigid AC on 100 degree days and feel free to cozy up when the temperatures dip. With the average monthly utility cost sitting at $114, we’ll let you imagine all the fun that extra change can buy.
Discounts to national brands
This is a cost-saving perk you won’t likely find elsewhere. Remember those coupon books you would buy from boy scouts? Well, coliving at Common is kind of like that — except instead of 10% off at a pizza joint you’ve never heard of, members get a number of exclusive discounts for things they actually want. Some of our brand discounts for all Common members include 10% off Brooklinen products and 25% off a yearly membership to the Calm meditation app, but our emphasis on community has resulted in some pretty sweet local perks as well (like free toppings at the neighborhood ice cream shop.) We know that every little bit counts, and by offering exclusive discounts to members we make coliving just a little bit sweeter.
Exclusive events
There are thousands of tweets that seem to follow the same rubric: “Leaving the house in _____ costs at least $100”. Part of the reason this tweet seems to be so popular is that it’s true in far too many cities. So Common came up with a solution: bring exclusive events directly to our members. No, we aren’t saying not to leave the house — part of the reason we have homes in the amazing cities we do is so members want to leave their building! Rather, these events create a way for members to have memorable experiences with their community without spending a dime. Now that is an unexpected savings!
Access to class-A amenities
First thing’s first: attainable housing ≠ bare-bones living. Want proof? Coliving units at Common Frankford in Philadelphia are priced even lower than Craigslist rooms (like, $400+ lower) yet offer members amenities including bike storage, on-site laundry, an outdoor deck, and a library. These amenities cost many renters an arm and a leg, but for Common members: they’re just another cost-saving perk of coliving.
Common saves the day!
While other apartment buildings and property management companies will try their hardest to nickel-and-dime renters at every turn, Common does the exact opposite: providing you with unexpected savings when you least expect it. To discover all the ways coliving can help you pinch pennies — while living your best life — explore any of Common’s coliving homes.