Residential properties are evolving to look more and more like hotels.
Wanting greater lease flexibility and more than just an empty box, many tenants today are demanding services and amenities once only seen in hotels. Traditional landlords are thus now figuring out how to underwrite property investments that come with greater capital expenditures and more uncertainty around lease lengths. To stay ahead of this “hotelization” trend, some landlords have partnered with a hospitality brand to welcome a new business model: co-living.
In the above video, PERE takes you inside some of these co-living spaces and speaks with firms that have bet on this strategy as one adoption of the hotelization trend in real estate.