Community Building for Business Success in the Co-living Industry

13 June 2022

community building in a co living space

For all of us, a close-knotted society is a need that gives us purpose and identity. Social engagement is a constant reminder of how we need to develop as a person. A sense of community allows us to flourish and expand progressively, boosts our self-esteem, and impacts our daily lives and life goals.

A majority of the co-living population consists of expats and working professionals who have migrated from other countries. These millennial workers utilise social media platforms like Instagram and Facebook as virtual socialising alternatives. However, this often makes them miss out on the “real socialising” experience. Socializing is necessary to boost individuals’ well-being and mental health irrespective of their ethnicity, gender, and location.

Co-living Industry

Co-living spaces started as an alternative means of living and presented an ideal, budget-friendly option for digital nomads or backpacking travellers. However, as more and more people have joined the co-living community, the scenario has changed. Now, people prefer to live somewhere they can interact with others. Such a set-up supports the innate need of human beings to bond with others.

The co-living industry caters to the needs of the globalised world where people migrate or relocate due to work. They try to find new friends, and the same comfort of bonding and group activities in a new place.

How Co-living leads to Community Building

The co-living concept is built around creating an environment centred on a community. Co-living buildings have a uniquely curated community of expats and working professionals that foster inclusivity. Co-living is synonymous with community living as it offers meaningful interactions and strong associations where everyone feels valued.

Here is how the co-living industry offers community building for business success.

1) Common Socialising Areas

Co-living properties provide communal areas where tenants can gather and socialise. While the primary focus is on privacy with an ensuite room for rent, it also serves as a network for promoting social contact. They have state–of–the–art common areas and lounges for network building.

Co-living residents may have different daily schedules and never run into each other. In a general rental accommodation scenario, tenants do not necessarily have a space to meet friends or relatives exclusively. But, common areas in the co-living premises offer a space where they can see and meet each other. The lounge also serves as an excellent alternative for those working from home and seeking a change in environment.

Residents can hang out in these common areas. Some of the lounges provide a smart TV that allows members to gather for a movie night. The common socialising areas are aesthetically designed with colour-coordinated furnishings, furniture, and wall colours designed to provide a lively environment.

2) Technology Assisting in Network Building

With the advancement of technology, communication has been made easier and quicker. Co-living tenants can easily communicate with each other through apps such as WhatsApp. Tenants can easily create group chats and plan a gathering. As the co-living members make new connections within the community, they also open themselves to new and relevant connections that are part of other members’ networks.

3) Drive Community Engagement

Most co-living spaces in Singapore promote interactions between co-living residents. They encourage everyone to participate in the events at the co-living facility regardless of their expertise. This opportunity focuses on providing a good time and enjoyment within the community. The trick is to do things that everyone can participate in to maximise your interactions and exposure.

4) Community Focussed Social Events

Co-living communities offer a myriad of social events that are community-focused. These events help improve the social engagement between residents. Some co-living spaces also organise various online and offline events, such as yoga classes, martial arts classes, and online fitness classes to engage and bring people together. Such activities foster a feeling of companionship and community. For example, Coliwoo Boon Lay has come up with an Urban Farming project as a step towards sustainable organic farming. Tenants can join the operations team in planting and harvesting crops for cooking.

Final Thoughts

It is a no-brainer that co-living directly taps into today’s living trend for working professionals. It has been successful in creating an environment focused on their lifestyles. This environment encourages residents to meet new people, learn something unique daily, and even provide innovative and enthusiastic work-friendly environments.