Hemlane defines co-living as a form of housing where all residents share one or more common living spaces. Renting out individual rooms is a popular way to earn extra rental income and has become increasingly popular among younger renters.
Capabilities for Co-Living
Hemlane can be used to support co-living arrangements in the following ways:
- Accept applications and process background and credit checks
- Store documents and communicate with tenants
- Collect rent and other payments
- Track leases for renewals
- Submit and view repair requests
Limitation: Listing Syndication
Most listing sites will not post rooms for rent, as they only support individual unit listings. We recommend listing your rentals on platforms built specifically for shared housing, such as:
Limitation: Repair Coordination
Co-living arrangements require management to be responsible for recurring services in communal areas such as cleaning the kitchen or living room. Hemlane is unable to assist with the administration of these recurring tasks.
Limitation: Leasing Support
If you are interested in our Complete package, please note that leasing agents through Hemlane are not able to assist with co-living spaces or individual room placements. Most agents do not have tools for marketing to roommate situations, and standard Realtor association forms may not accommodate individual room leases.
An agent can however help with drafting a lease that makes all roommates jointly liable. If you prefer to have separate leases for each tenant, lease templates are available for Complete package users to use independently.