The future of accommodation: when coliving and PropTech combine
As technology develops at an ever-faster rate, the possibilities for where and how new innovations can be used are endless. The property sector is one such area where new technology, such as smarter video surveillance, is being used to improve the quality of life for families and communities by increasing security as well as implementing changes based on new insights.
Specifically for the coliving movement, cloud-based video surveillance is helping operators to improve the communal spaces for their tenants in ways that on-premises surveillance never could. From tighter security measures to better social spaces, here’s how coliving is benefitting from the PropTech (property technology) boom.
What is coliving?
The coliving movement is the latest iteration of a recurring human trend. The act of communally sharing space and resources while benefiting from a supportive community is something we’ve seen time and again throughout history. A place that everyone can call home addresses multiple needs. With the concept of shared spaces, and the possibility to work and socialise together, it’s no longer simply a trend. Specifically for the coliving movement, cloud-based video surveillance is helping operators to improve the communal spaces for their tenants in ways that on-premises surveillance never could.
As living expenses become ever higher, for many – particularly younger – people getting on the property ladder is difficult, and renting an apartment alone can feel isolating. Coliving spaces offer a ready-built community, and many responsibilities – like maintenance, for example – lie with the building owners, and the cost is included.
Where does PropTech come in?
PropTech is dramatically changing the way people research, rent, buy, sell and manage property. The combination of the internet, huge compute power, cloud platforms and artificial intelligence (AI) have all combined to create technologies that are transforming the way the entire property sector works. Whether that’s helping buildings to operate more efficiently or even become more sustainable, PropTech is a sector that’s on the rise.
When it comes to coliving, PropTech is helping to make these environments safer and smarter for the people who live there. One of the fundamental areas of building design is people’s safety. Following the past year where health has been at the forefront of everyone’s minds, PropTech is enabling entrance systems with touchless doorways and innovative ventilation systems, for example. And even without taking the pandemic into consideration, people living in shared spaces need to be confident that the security is well-managed, and the management wants to ensure that only tenants and their guests can enter the premises.
How cloud video surveillance drives better coliving
Once seen as an ‘add-on’ to building design, video surveillance and access control are now becoming increasingly important elements of the PropTech movement, and they are equally as desirable for coliving too. Surveillance cameras are essentially sensors that can monitor activity, patterns, and any other changes in a given environment. Analysis of video data can occur in real-time to effect changes immediately, or video can be stored and evaluated at a later date.
In a coliving environment, a cloud-based video surveillance system can help operators to understand how tenants use their space, and implement changes to benefit them. Traditionally, video surveillance data stored on-premises had limited uses, as it was often only accessed after a security incident, such as a break-in. The video therefore wouldn’t be used frequently and the camera and storage system would just be another cost not yielding any ROI. Cloud technology has had a dramatic impact on video surveillance. Remote management delivers the ability to modify, adjust and perfect the system without needing to be present at the site, while remote monitoring alerts operators to any unusual incidents such as an equipment malfunction or breakage.
In a coliving environment, a cloud-based video surveillance system can help operators to understand how tenants use their space, and implement changes to benefit them. For example, surveillance can show operators which areas in the communal spaces are frequented the most and at what times, including areas such as the laundry room or gym where space might be limited. By using AI to analyse the video, operators can use insights from it to improve the existing set up wherever possible, and also learn lessons about how to better design future co-living spaces.
In today’s world, this technology can also help to keep everyone safe and healthy. Cameras can identify if someone is wearing a face mask as they go to enter a building and deny entry until they put one on. Thermal cameras are another easy tool to screen people for an elevated temperature before they even enter a communal space. Though a raised temperature does not mean you have COVID-19, the technology can provide an initial screening, so that individuals with elevated temperature readings can be checked manually for other symptoms or possibly be recommended for a test.
The future of smart living
Coliving is not a new phenomenon – humans have been living in communal places for many years, working and socialising together for the benefit of everyone. What makes today’s coliving movement unique is the range of rapidly developing technology that is being implemented to improve the environments for tenants. As an arguably lower cost and higher quality way of life, coliving spaces are certainly here to stay, and so the PropTech surge is no doubt going to grow with it.