Coliving is shaped by today’s technology. Operations are orchestrated by property management software. Accounts are handled by automated billing procedures. Doors are opened by smart lock systems. But how will technology shape coliving in 2033?
This question was posed during a recent panel discussion* at the 2023 Coliving Conference, participated by res:harmonics CEO Giles Horwitch-Smith. Looking at the way tech will unlock a ‘new era of seamless integration, operational efficiency and community-driven innovation within the coliving ecosystem’ in the future, here are our three key takeaways from the insightful panel discussion.
Coliving will pivot toward more flexible stays
Flexibility is already at the heart of the appeal of coliving, but in 2033 flexibility will become the norm. The next decade of tech developments will see more people working remotely and moving more frequently, staying for shorter periods instead of taking on year-plus leases. This new resident type is looking for temporary homes where they can live, work and play without a hotel-style rate. They will also look for accommodation offerings that are set-up for their specialised interests, such as coliving communities for gamers (with specific games rooms and events) or coliving buildings with coworking spaces for digital nomads.
To take advantage of residents’ tech-inspired freedom, coliving spaces will not only require the technology to cater for multiple stay lengths in every building, but they will also need the tools to better understand and make use of its space. For example, AI tools will show operators which rooms are used most often (broken down by demographic) and suggest ways to optimise the space for that cohort of residents. In other words, coliving will be as flexible as its customer base.
‘I see flexibility being one of the major themes in accommodation with people moving more, working remotely, finding their space and finding the tribe of people that they want to be with.’ Giles Horwitch-Smith, CEO, res:harmonics
Tech software will change how coliving buildings are run
In 2023, coliving hardware is more prevalent than coliving software. But this is predicted to change as coliving moves from a property business to a service business. As buildings become smarter, software will replace great quantities of hardware, driving cost-saving efficiencies across coliving’s operations - but only if the software is seamlessly integrated with one another.
For instance, customers will be able to move between coliving locations without needing to download new apps or booking software. They will simply arrive in a new city, find a suitable property and walk through the door with a digital key (the importance of branded tech will be crucial). The same goes for managers. A full coliving software overlay enables operators to manage multiple aspects of multiple assets remotely with one property management system. Meanwhile, software automation will free up managers’ time to focus on customer experience and even help facilitate community directly (i.e. technology can build profiles on residents based on their in-stay preferences and help managers match like-minded people).
‘You need to reduce the quantity of hardware you put inside the building and reduce the complexity of the system as much as possible. Basically, you need to replace the hardware with something that can be used in a browser or a mobile application.’ Alessandro Nacci, CEO, Sofia part of ISEO
Operators will use tech to learn from their buildings
In an interconnected coliving landscape, operators can learn from their buildings. Be it integrating energy usage with green AI tools or connecting CCTV cameras to smart lock systems, 2033 will see a merging of the BMS (building management system) and the PMS (property management system).
For example, operators will be able to use dashboard data to easily see where people like to work in the buildings and at what time, as well as what amenities are popular with residents and what they’re prepared to pay for them. As such, operators can use their buildings as more than just properties; they will become management consultants providing insights into how to manage spaces and run operations.
'The next generation of coliving communities will desire green buildings and smart buildings. It's very important that coliving starts modifying and making more sustainable buildings.’ Nicholas White, Co-Founder & Managing Partner, Smart Building Collective
Coliving software 2023-2033
From real-time dashboard reporting to property management system integrations with building’s energy use, game-changing coliving technology is rolled out on a frequent basis. But to take advantage of the new opportunities they bring, operators will need a coliving-specific property management system like res:harmonics that easily integrates with the latest coliving technology.
Check out our Ultimate Guide to a Coliving PMS to find out more about how an all-in-one system can streamline coliving operations.
* The panel discussion on Co-Tech: Pioneering the Convergence of Technology and Community Living took place on 22 September at the 2023 Coliving Conference in Amsterdam, featuring:
- Alessandro Nacci, CEO, Sofia part of ISEO
- Nicholas White, Co-Founder & Managing Partner, Smart Building Collective
- Erwin Buckers, CEO & Co-founder, Chainels
- Sabine Schoorl, Senior Partner, Lumo Labs
- Giles Horwitch-Smith, CEO, res:harmonics
Request a demo to learn more about res:harmonics coliving software.