For individuals planning to spend longer than a few nights, the most cost-effective options include paying for guest accommodation (PG), hostel accommodation, and co-living spaces. However, the three exist for different reasons and so have various operations and configurations.
In this article, we’ll break down the differences between PGs, hostels, and co-living spaces, evaluate their pros and cons, and help you decide which is the best option for you.
You’ve chosen a private, home-style rental agreement rather than taking on the duties of a homeowner or lessee. You are renting a room within a bigger shared unit rather than a full area. The owner is to pay the bills, and you are just responsible for your monthly fee. Consider it a hybrid of an Airbnb and a regular rental where you don’t have to manage utilities, furniture, bills, or cleaning like you do with Airbnb, but you have to pay the owner or landlord to take care of those things for you. You do not, however, can move in or out with little notice, unlike an Airbnb. You must sign a longer-term lease, similar to a rental agreement, but you are not the point person for maintenance or other housing obligations.
It is an ideal option for students who don’t want to or can’t live in dorms but aren’t ready to commit to a full-fledged lease. It can also provide temporary relief for professionals who are moving for a job. You must sign a longer-term lease, similar to a rental agreement, but you are not the point person for maintenance or other housing obligations.
It’s ideal for students who don’t want to or can’t live in dorms but aren’t ready to commit to a full-fledged lease. It can also provide temporary relief for professionals who are moving for a job.
-Some access to a local network since you are surrounded by local people who live in the neighbourhood and can provide information on things to do or places to go, saving money for people who can’t or don’t want to pay rent for a complete residence or space by themselves.
-Because you’re living in an apartment-style place with few other people, you’ll need to put your trust in the owner to keep you safe.
Points to focus on
-Because conditions cannot be assured, you must evaluate each situation to ensure that it is precisely what is advertised and that it will meet your needs in terms of facilities, safety, and security.
-Because you must sign a long-term lease, you have little flexibility. Because it is not a large-scale controlled organisation, but one run by individuals, there are few perks, and you, as a resident, must handle most things yourself.
Hostels are shared rooms with many beds and common bathrooms in a dorm-style setting. Hostels are comparable to hotels in that they have a reception area, a dining space, a kitchen area, cleaning services, Wi-Fi, and laundry facilities. However, the amenities and level of service are far inferior to those found in hotels.
Hostels are frequently inexpensive since you share your space and all the utilities with other people. At a higher pricing point, some hostels provide private rooms with private toilets, which are more akin to staying in a cheaper hotel.
Hostels do not offer maid service, room service, spas, gyms, restaurants, or business centres, as do hotels. They do, however, frequently have shared rooms similar to dorms where individuals might, for example, assemble in front of a TV to play video games, sit together and play board games, strum a guitar, or play pool.
-People looking for a cheap place to stay for a short or extended period will appreciate this.
-People who stay in hostels are frequently travelling alone and keen to make new social connections, thus access to a community within the common space is important.
-Soap, toilet paper, instant coffee, video games, daily cleaning, lockers, and other basic amenities are provided.
Points to Focus on
-Limited security because, even though you have access to lockers, you are still sharing space with unvetted strangers, and thefts are unfortunately common.
-Noisiness is an issue because you are often sharing a room with several other people who may not respect the hostel rules and are frequently out partying late.
-Because of the constant flow of people, hostels are not always clean, and bed bug outbreaks can occur.
Co-living is a distinct subcategory of living arrangements. It combines PGs, hostels, hotels, standard leases, and Airbnbs to provide the best of all worlds.
Businesses that rent out entire flats or homes to co-living tenants operate co-living spaces. Residents are given completely furnished, affordable housing in a community of like-minded people who have been thoroughly screened.
Residents are not given a rental agreement and are just required to sign a flexible leasing agreement. In the sense that people can come and go as they choose, the spaces are like a hotel, hostel, or Airbnb. Residents are also not responsible for any utilities or maintenance in the apartment because they pay a one time charge to the co-living space operators, who take care of everything.
Residents get free Wi-Fi, streaming services, community events, a fully stocked kitchen, laundry services, basic amenities like soap, toilet paper, and perishables, a gym, spa, pool, and co-working space (if the unit has them), as well as unparalleled networking opportunities, all for one low monthly fee.
Co-living spaces are appropriate for short, medium, and long-term stays. Most people who move into co-living spaces stay for at least a few months. Co-living spaces are a great alternative to regular leases since they seem more like a home than a hotel, and their community-hosted activities are a great way to avoid loneliness and meet new people in a new city.
Some co-living spaces cater to specific demographics, such as entrepreneurs, startup teams, or artists. If you fall into one of those groups, live in an environment where you can draw inspiration from people who have similar professional goals. Co-living spaces are available to many individuals and are best suited for those who have an open mind and are eager to learn.
-Cost-effective because co-living locations provide both private and shared rooms, as well as access to unique amenities like a pool or a co-working space within your home or building, all for a single monthly price.
-An amazing group of people from all walks of life who share similar community-minded beliefs from all over the world.
-Entrepreneurs and young professionals would otherwise have to pay for business networking events.
-Incredible rewards since the operation are run by a company rather than individuals who care about supporting the community they serve foremost.
-High-level security People are considerably more likely to respect the rules since everyone who enters the house has been vetted and understands them. There are also lockers available for storing valuables.
-Residents do not need to sign a lease agreement and simply need to offer a short notice period before moving out, so flexibility reigns supreme.
Points to Focus on
-It can be noisy because of large groups congregating in a small space, but these events are always planned and will never surprise you.
-Because there are several co-living firms out there that operate on different standards of living, it’s critical that you vet each company, read reviews, and ask questions to verify that you’re getting the best deal possible.
Why is Colive the best alternative?
The best option is determined by your needs. Hostels are frequently utilised by backpackers who are on the go and just need short-term lodging. PG and co-living spaces are usually best for longer stays.
If you want a sense of community and a productive workstation, co-living spaces are the best option because they include a co-working space. They are centred on the community and conduct several social functions each month. Hostels are also a terrific way to meet new people, but the time you spend with them is usually limited.
If you already have a community at work or school and merely need a place to sleep, PG makes sense. It’s unlikely that you’ll socialise much at home unless the individuals you live with are really social and host frequent get-togethers. PG is more like a standard lease with roommates with whom you may or may not have regular interactions.
Start by assessing your wants and goals, then comparing them to what PGs, co-living spaces and hostels offer. They’re all reasonably priced, and each has its own set of advantages and disadvantages.
Colive, the world’s largest verified co-living platform, is a good place to start if you decide to pursue the co-living route. We make it simple to choose your ideal co-living place in the location of your choice. To discover the remarkable range of Colive properties offered in Bengaluru, Hyderabad, Pune, and Chennai, go to www.colive.com.