In the second episode of this season, The Brick Underground podcast breaks down what you need to know about the co-living phenomenon. Part of the sharing economy, co-living strives to make renting turn key and hassle-free. These companies will set you up with a room in a furnished apartment, match you up with a roommate, and take care of all the details—all for one monthly payment.
The housing model removes a lot of the friction involved in renting with roomies—the pantry is stocked, clean linen is part of the deal, cleaning services are usually provided, and you get a ready-made community. You can rent for short periods of time and do not have to meet the same income thresholds of traditional rentals. People in co-living spaces tells us they love the convenience and flexibility.
We'll get to get into the details with Brick Underground reporter Mimi O’Connor who has visited co-living spaces around the city, spoken to residents, and identified how the different co-living brands are defining themselves. We are also going to look at some of the legal issues that can arise from the co-living model.
Did you know it's illegal to rent a single room in a co-living space? You'll want to make sure all the roommates are on the lease and you're following the rules or you could find yourself being thrown out of the apartment by city inspectors.
We'll explore all that and how you can protect yourself with lawyer Michelle Itkowtiz, the founder of the Itkowitz law firm and creator of the Tenant Learning Platform, which offers online classes for New York City tenants on specific legal issues.
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