Opening Words

Coliving is becoming mainstream. Emerging as a niche industry over the past

decade, the coliving model has captivated the attention of operators,
investors, developers and public officials from across the world.

While coliving has seen tremendous growth, there is still much more work to
be done in order to further showcase the potential of the industry: financial
viability of the model needs to be demonstrated, coliving operators need to
master operational excellence, community managers must learn the art of
dealing with human dynamics, and public officials need to build the right
frameworks for coliving to flourish legally.

We believe that coliving has the ability to heavily influence the way we live.
During the virtual 2021 edition of the Co-Liv Summit, our Co-Liv team brought
together the key stakeholders to learn from our past, impact the now and
innovate for the future of coliving.

We hope that the Co-Liv Summit, alongside our other initiatives, showcased
that coliving is not only here to stay, but that coliving is here to flourish.The
industry must continue to enable all stakeholders in order to achieve its full
potential, and at Co-Liv we are honored to play a role in educating,
connecting, and empowering the global coliving ecosystem.

Be a part of the change; we encourage you to join us on this journey.

Gui Perdrix
Co-Liv Director

2 Key insights from the world's largest coliving gathering

Key Highlights of the Co-Liv Summit

Co-Liv is the global association of coliving professionals that unites coliving actors
to empower and steer the coliving movement towards an independent, flourishing
and stakeholder-centered industry that creates value for residents, cities,
neighborhoods, operators, investors, and real estate owners alike.

On May 5th and 6th 2021, more than 800+ coliving professionals united to learn
from the leading actors, thought leaders and innovators. This report aims to shine a
light on the key take-aways and insights gathered from two days of talks, panels
and surveys.

The theme of the 2021 Co-Liv Summit was “Laying down the foundations for the
future of coliving” and to date is the largest coliving conference ever held.

30+ spotlight talks

800+ attendees
and panels

200+ attendees 70+ speakers and

average live facilitators

The event included among others:

2 full days and 18 total hours of groundbreaking content

Variety of formats - spotlight talks, panels, networking sessions and workshops
Insightful industry polls, games and giveaway contests
Live-stream from a production studio with the Co-Liv team in Paris

4 Key insights from the world's largest coliving gathering

Last but not least, the event was built around the three pillars that define
our core mission:

Educating Connecting Empowering

coliving professionals to Summit attendees with the coliving community,

become better actors dozens of speed- ecosystem and
and align their networking sessions that movement through
products/services with a were held on Zoom content, connections
global vision of coliving break-out rooms, that and access to further
as a value-driven gave groups of 4-6 initiatives
industry coliving professionals
the chance to get to
know each other

Watch the Co-Liv Summit Trailer

Attendees Insights

The Co-Liv community involves a variety of coliving professionals - operators,

developers, investors, real estate owners, service providers and urbanists. The
following insights shine a light on the diversity within Co-Liv.

Oth
er

tor
Public Sec g
Cowork ts
in Coliving
n
d Ap artme
e
Servic t
o Ren
lt t
Bui
y
lit
ta

ing
ing
pi

us
os

us
Ho
H

Ho
r
nio
nt
Se
de
Stu

Real Estate Owners

Real Estate Developers
Consultants
Other
Operators
Researchers
Investors
Software Service Providers
Other Service Providers
Architects / Designers
Community Managers
Urban Planners
Journalists
Coliving Residents
Public Policy Officials
Hardware Suppliers

680 respondents

6 Key insights from the world's largest coliving gathering

What our Speakers Believe In
Attendees Testimonials

I felt like I was there

Impactful since I had to do
KEEP INSPIRING
speakers and nothing but turn the
THE WORLD
panelists volume up and enjoy
every single second

I liked the team's

The formal but
energy and ability to
Cool people in the informal atmosphere
keep people
networking rooms. that made everything
interested throughout
Interesting talks comfortable and
the packed 2-day
dynamic
programme

I loved the enthusiasm

and the attempt of
I loved every delivering an online Inspiring and
bit of it event outside of the insightful
common online
events. Well done

8 Key insights from the world's largest coliving gathering

 Speakers Testimonials

The dialogue between coliving

The coliving sector has changed
dramatically in the past five years,
with new brands, new cities and new
communities all bringing their unique
strategies to renters. It was great to
share Common's values and mission
with the audience at the Co-Liv
summit this year, and I loved learning
how leaders all over the world are
making attainable housing a priority.
and student living experts
could not be more timely. We
are all looking to accelerate
our international growth and
improve our offering while still
being able to find great
locations in a competitive real
estate market. We look
forward to continuing the Co-
Liv & The Class Foundation
collaboration.

Brad Hargreaves Frank Uffen

Founder & CEO, Common Partnerships & Co-founder
The Class Foundation

Thank you to the Co-Liv community for letting

me participate in the summit. The success of
our communities rely on strong linkages The conference
between people, places and experiences. I was wonderful, very
look forward to future connections with my engaging and full of
fellow panelists and summit participants as we insight.
continue to address the needs of the past,
present and future.

David Abraham
Kevin Clausen-Quiroz CEO, Outpost

Project Manager II, City of Anaheim - Community and

Economic Development Department
Topics & Formats

The Co-Liv Summit covered a variety of talks and panels covering many different
topics. The main formats were:

1. Spotlight talks: short talks of 10-15 minutes delivered by a thought leader on

their subject of expertise
2. Panels: 45 min of insightful exchanges between key doers, entrepreneurs and
executives, sharing their best practices and first-hand experiences
3. Workshop: 60 min of in-depth consultation and applicable changes delivered
by key experts in their field

1. Spotlight talks
1.1. Community and Operations

1.2. Technology

10 Key insights from the world's largest coliving gathering

1.3. Vision

1.4. Co-Liv and Coliving

2. Panels
2.1. Business / Investment
2.2. Operations

2.3. Technology

12 Key insights from the world's largest coliving gathering

2.4. The future of coliving

2.5. Others
3. Workshop

4. Other

14 Key insights from the world's largest coliving gathering

Listen to Key Spotlight Talks

No panic, you can

You've missed the Summit? Buy the recordings now

and enjoy all contents,
anytime, anywhere.
Key Insights from Panel Discussions

Business Models (Asset Heavy vs. Asset Light)

With Anil Khera, CEO of Node, Bob Kennedy, Partner at Six Peak, Stonington Cox,
Founder and CEO at Nomos Group, Riccardo Tessaro, Founder and CEO of Gravity.
Moderated by Claire Flurin, Head of R&D at Keys AM.

At Gravity, no operating strategy is better than another, each one has its
advantages depending on the company's objectives. Being asset-light allows
Gravity to stay agile, scale fast and rapidly address untapped markets (i.e. from
0 to 500 beds).

Node followed Hilton’s strategy by starting asset-heavy and then building an

operation around it. The goal is to have the freedom to control the asset and
experiment with it. They believe that most of the value created in the value chain
gets capitalised with the asset.

Venture capital and real estate are two entirely different asset classes, with
different tolerances for risk and return expectations.

There’s no definitive answer between prop-co and op-co models: developers

will always need operators and operators will always need buildings.

The person who controls the building is the one that puts more capital in it and
takes the greater risk.

Most European coliving operators start with leases. Going forward, Gravity will
diversify going from just IRI and FRI lease agreements, to management
agreements, revenue sharing agreements, as well as co-investing with
developers.

For Anil the “asset right” way is being an asset manager rather than asset
owner. You might own 5% of an asset, but by that you get the benefits from the
whole value creation. However, this requires a different skillset from being an
operator.

16 Key insights from the world's largest coliving gathering

Overview of the Coliving Industry

With Susan Tjarksen, Managing Director at Cushman & Wakefield, Philip Hillman,
Chairman Living Capital Markets at JLL, Andrew Purdon, Head of Co-Living transactions
at CBRE UK, Konstantinos Sotiropoulos, Investment Director at Greystar Europe.
Moderated by Claire Flurin, Head of R&D and Innovation at Keys AM.

Similarly to what we experienced in the early 90’s and 00’s with student
housing, investors didn’t understand coliving when it first emerged.

Greystar provides a cost-effective coliving model, which is achieved through

purpose-built assets of at least 100 units. They design buildings with architects
and engineers with operational efficiency in mind. On the capital markets side,
returns are much greater if a coliving asset is purpose-built.

Coliving is the blurring of lines between hospitality and residential. It’s not just
about the bricks and mortar, it’s about a way of living.

Institutions being involved in coliving is what makes it a sector of its own right,
giving it the opportunity to become a real force. Coliving is here to stay and is
influencing other sectors.

At Greystar, the driving forces for coliving are: affordability, convenience (i.e.
enhanced UX), loneliness & flexibility (i.e. flexible lease terms). At Cushman &
Wakefield, the three Cs that attract customers to coliving include: cost,
convenience and community.

In the US there are 12,000 beds in operation with 55,000 in the pipeline, whilst
across Europe there are 16,000 beds in operation and 25,000 in the pipeline,
and in Asia there are 65,000 beds in operation with 125,000 in the pipeline.
(Cushman & Wakefield)

For some municipalities, coliving is an essential tool for achieving

affordable housing requirements.

Coliving has encouraged people to not only think about a physical space, but
also how that space is operated.

In the US, 899,000 people annually are looking for roommate housing.
Investment committees must understand that coliving isn’t a current fad, as
younger generations continue to demand for coliving opportunities. Cushman &
Wakefield view residential units as a consumer product.
Expansion, Innovation and Resilience:
Insights from Brad Hargreaves and Reza Merchant

With Brad Hargreaves, founder and CEO of Common, and Reza Merchant, founder and
CEO of The Collective.

Common currently operates 6,000 units in the US for coliving and multi-family
units. The Collective has got just over 8,000 units in operation or under
development across the US, UK and Germany.

“25 million Americans live with roommates, yet this demographic is under
addressed by those who build and rent apartments” - Brad

“It was just shocking to me that housing, which is a fundamental need for every
person in the world, is being so poorly provided for. There hasn’t been a need to
innovate because space is always scarce, but if you approach it from a customer
point of view, then we are scratching the surface in terms of the amount of
evolution and innovation around how housing is provided.” - Reza

The Collective undertakes an asset-heavy and vertical integrated approach that

allows end-to-end control. The asset-light approach used by Common tackles
market opportunities faster (i.e. developing homes for single-parent families)
and scales rapidly.

During the pandemic, The Collective pivoted to focus on longer stays rather
than shorter stays.

Common operates half of its units as coliving spaces, while the remaining ones
operate as multi-family. Coliving is seen as a unit typology within build-to-rent.
This way, coliving is an entry point into a high-quality building or residential area.

At Common, the flexible month-to-month leasing approach has been replaced

with 3, 6 and 12 month contracts to enable the creation of better communities.
The average stay is 10-15 months at Common and 18-20 months at The
Collective.

One of the main metrics to focus on is members making friends from the very
beginning, or meaningful connections outside of their suites, which is used as an
indicator for renewal rates. It requires creating the right touchpoints for the user
journey.

18 Key insights from the world's largest coliving gathering

Coliving Has Become Mainstream, What’s Next?

By Claire Flurin, former Co-Liv director and Head of R&D at Keys AM.

Coliving is being defined as “a form of managed habitation where people shared

space and resources to access a better quality of life” (crowdsourced definition
by Co-Liv).

Coliving comes in many forms but is always a function of duration of stay,

degree of sharing and level of services. It addresses the mismatches and
inefficiencies of the housing market.

The four main drivers behind coliving are affordability, mobility, loneliness and
evolving consumer preferences, such as flexibility and experiences, which
challenges the definition of housing.

Coliving is not only a solution for young millennials, but for people at every
stage of their lives. In recent years, the definition of housing quality, to account
for shared living and flexible leases, has evolved in major cities, including New
York, Paris and London.

Coliving stakeholders need to adopt an evidence-based approach, using data to

prove the benefits that they bring to society.

Key indicators could be: net promoter scores, percentage of residents reporting
improved work and living conditions in coliving, overall housing cost burden, and
percentage of residents reporting improved social life and decreased feelings of
isolation. This approach is not limited to coliving.

Coliving stakeholders need to set ambitious affordability goals. In large French

cities, the increasing housing costs for shared living spaces (including sharing
rooms) often costs residents more than 45% of their monthly income which is
far higher than the accepted definition of “cost-burdened” - which is anything
over 30%.

The future of affordable living will include options for shared ownership.
Key insights from Industry Polls

Participants of the Co-Liv Summit shared their insights and beliefs around coliving.
These are the latest statistics and trends.

In your opinion, what is the number one driver of the coliving

industry around the world?

Housing affordability
Loneliness epidemic

Urbanization

Other

68 respondents

Do you think coliving is a niche product?

No. I believe there’s a

chance it can be massively
deployed to a variety of
social groups (ex. families,
seniors…)

Yes. It will always cater to a

limited segment of the
population (ex. mostly single
millennials with medium-high
purchasing power...)

122 respondents I don't know

20 Key insights from the world's largest coliving gathering

Which challenges in the coliving sector are
high-priority in your opinion?
Defining new housing &
urban regulations

Finding recipes of profitability

Fostering authentic communities

Striving for more affordability

Other

122 respondents

Coliving Intervention : which of the following phenomenons

do you agree with the most?

The Community-Washing effect.

Community is not a piece of
furniture, neither a service that
you can buy. It depends on each
individual’s set of values and
willingness to bond with others.
Coliving marketing is sometimes
misleading.

The Faux-Living effect. Often

room rental providers define
themselves as coliving
78 respondents operators, which I don’t
believe is fair. I wish there was
an official guideline system to
help clarify what is coliving
and what is not.

The Copy-Paste effect. Too many

coliving look alike, they adopt the same
generic images and storytelling on
websites. I am missing some
authenticity.

Other
What vision of community you relate to the most?

“What matters has changed.

Supercharged by technology
and design, community will
come to define the next
economic era” - Gaetan de
Dietrich (Head of Community &
Sales - Hmlet)

“Community can’t be
created without involving
your members. True
community boils down to
124 respondents
members identifying
themselves with your brand
“Coliving communities need to
because they get value out
become impact-driven and
stakeholder-centric spaces that
of it” - Gui Perdrix (Founder -
foster connection to self, other Art of Co)
and nature” - Matt Lesniak
(Head of Impact and Innovation
- Conscious Coliving)

Do you think it’s not possible to have a sense of community

when residents stay….

Less than 1 year

Less than 6 months

Less than 1 month

Less than 1 week

I don't know

70 respondents

22 Key insights from the world's largest coliving gathering

What do you see as the biggest challenge converting hotels
into coliving?
Building design adaptation

Adjusting the operating model

and community approach

Building regulation and

zoning limitations

Convincing investors / landlords

of a different business model

The additional investment

38 respondents needed

Other

Conceiving “reversible” buildings, meaning buildings

capable of changing program over time is….

Nonsense! Too difficult, too

expensive, too risky

A “plan B” solution that Covid19

forced us to put in place

The future. Period

Other

38 respondents
What tech components need the most improvement or could
use customisation / development?
Lead generation

CRM, applicant tracking, sales

funnel

Tenant screening, signing

leases, property management,
rent payments, repairs

Asset accounting

Overall company data

70 respondents dashboard

Project management, operations

Community management,
resident matching

Other

What could in your opinion make a bad coliving spatial

experience?
Uncleanable surfaces and bad
material choices

Bad acoustical installations and

no soundproofing in walls and
doors

A super designed super tiny

private space

A tiny shared kitchen with my

colivers smelly cheese in the
90 respondents shared fridge

None of the above

24 Key insights from the world's largest coliving gathering

Host of the 1st Edition of

More than a year ago, Aitana de Jong, Bart Sasim and Matt Lesniak - the co-
founders of Coliving Awards - came together and spotted a need in the industry to
acknowledge all the factors contributing to the growth of this sector. After
committing themselves to the creation of this necessary initiative, they have spent
the last year pouring their hearts and energy into making the Coliving Awards a
reality and a great experience for all the participants, jury panel, audience and
everyone else involved.

Coliving Awards was born from an emotion:

Wanting to give back to an industry that has provided the Coliving

Awards team with so many opportunities, so much inspiration and a
continued passion to keep working in a sector that they love.

The Coliving Awards is about highlighting all the companies out there - and the
individuals behind those companies - advocating for better ways of living, fostering
thriving communities and building impact-driven coliving initiatives.

From its inception to this moment, Coliving Awards has aimed to become a platform
for discovery, acknowledgment and celebration. Selecting the final winners was
difficult, however, it inspired the Coliving Awards teams and judges and they
believe will do the same for the rest of the shared living sector.

Coliving Awards believes that all of the participants of their awards ceremony have
helped evolve the shared living industry and will inspire the next generation of real
estate market players with their disruptive solutions and state-of-the-art concepts.

To read more about the Coliving Awards winners, finalists, honourable mentions
and other participants and partners, you can download the Coliving Insights x
Coliving Awards Special Edition: Fostering Innovation within Coliving, here.
Co-Liv Summit Partners

Our non-profit association would not exist without the help, support and
involvement of the amazing organizations that help shape the future of living.

26 Key insights from the world's largest coliving gathering

About Co-Liv

Co-Liv is the global non-profit organization, ecosystem, and do-tank whose mission
is to guide and empower the coliving movement worldwide. We are a community of
founders, operators, real estate investors, developers, designers, architects, urban
planners and policymakers who are dedicated to making the world a better place
through shared living.

To date, Co-Liv counts:

350+ worldwide
members

12 core team 30+ partners

members

45 ambassadors,
representing Co-Liv
across the world

We define coliving as any shared living space that improves the quality-of-life for
its residents. We believe coliving will address the global housing crisis, transform
the real estate landscape, and create new lifestyle paradigms for a more
sustainable future.
Get involved in the Co-Family

Gain access to members-only

events, discounts, our internal
members directory, coliving
resources, exclusive events
recordings and more.

Become a Member

Gain visibility across the industry,

create valuable content and meet key
stakeholders, contribute to shaping
the industry, create projects together
and more.

Become a Partner

Become the coliving lead contact and

expert in your region/country.
Represent Co-Liv, organise events,
share projects, helps shaping our
industry

Become an Ambassador

We are bringing Co-Liv to the moon.

Wanna come with us? Currently
open positions include:
Head of Partnerships, Head of
Memberships, Community Manager
and Content Creator. Write us!

gui@co-liv.org

28
Get involved in the Co-Family

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news, Co-Liv updates, upcoming
events, and gain access to Co-Liv
initiatives.

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 Made with by

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www.co-liv.org