As demand grows and supply dwindles, housing costs are constantly climbing to all-time highs. With studio apartments averaging around $2,230 in rent, according to Realtor.com, and the growing housing crisis, many Angelenos are seeking out new solutions. One answer to the problem is co-living, the idea of sharing space and experiences with like-minded people while making housing more accessible for all.
- Credit: PodShare
PodShare is one such company. Founder Elvina Beck transforms grand family homes into shared living spaces in covetable neighborhoods. Each property offers individual “pods” (which are effectively bunk beds) along with a range of shared facilities such as workspaces, kitchens, bathrooms and outdoor entertainment spaces. PodShare currently offers accommodation in four prime locations in Los Angeles: Venice, DTLA, Koreatown and Hollywood.
- Credit: PodShare
These areas would typically be out of reach for the average graduate who is often launched into the world with crippling student debt. To add to that, the hefty deposit fees, furnishing costs, and utility bills only steepen the barrier. On the other hand, lodging at one of these properties will start at $50 per night or $1,000 per month. Plus, you won’t have to show proof of income and there are no deposit fees. You’ll just be required to pay for the time you intend to stay upfront.
- Credit: PodShare
But this isn’t the only company driving this shift. The concept has already taken off in the city with other startups like the local co-living complex in L.A. called Eddy, offering creatives membership to a community-orientated lifestyle in a stunning environment. Another is the international company Coliving.com, which is pretty much the shared version of Airbnb that has a range of co-habiting options starting from just $617 a month.
These rental options do allow everyone to live in a way that would usually be unattainable, with access to facilities that would usually come at crippling costs like recording studios and gyms. But, beyond that, they also aim to strengthen the sense of community and encourage a more engaged way of living.