For those who reside and work in expensive cities like Hong Kong, accommodation options are not so easy. Signing long term rental leases can sometimes leave them exposed to unwanted risk, not to mention the additional expenses for furnishing and fitting out an apartment.
For people like Michael, an American young professional who relocated to Hong Kong early last year to work in the Accounting sector, being nimble and finding a flexible rental solution was imperative. “It’s almost impossible to find value for money in the Hong Kong rental market, particularly when you are forced to sign a long-term lease,” he said. “I was looking for a roommate, one I could be compatible with and who was reliable. But you never really know how you will get along with a complete stranger. A friend suggested I should look into co-living. It was a complete game-changer.”
“Co-living is a recent rental trend that has taken off in large, urban centers offering lower living costs and a more refined model of shared spaces,” said Ben Tse, VP Marketing of Weave Living. Unlike the traditional roommate dynamic, there is no common rental payment and the individual is solely responsible for his or her costs. There is, however, a fully furnished and fully private studio with a shared use of common spaces and various amenities as well as a ready-made social life – on your own terms. “In essence, it’s the rental version of pret-a-porter,” said Michael. “Like ready to wear outfits, co-living is basically plug and play.”
Being new to the area, the communal vibe proved to be quite fortuitous for young professionals eventually settled into Weave Studios, one of Hong Kong’s largest and fastest growing co-living brands. Among the recreational shared spaces at Weave Studios are a kitchen, reading room, living room, lounge, terrace/rooftop and even a yoga and spin studio. There are no agents or management fees to pay and one price covers everything including WiFi and utilities.
“Co-living is a viable option for those who are less willing to commit to long term leases, yet still desire many of the amenities that come with long term rentals,” said Tim Alpe, CEO of RedBox Mini Storage Ltd. With five mini storage (www.redboxstorage.com.hk) locations across Hong Kong, RedBox Mini Storage has partnered with Weave Living, a leading owner/developer/operator of rental accommodation in Hong Kong, in offering a Door-to-Door (DTD) storage service (https://www.redboxstorage.com.hk/valet-storage/) for its residents. “It’s a perfect synergy for people staying there,” said Alpe. “They don’t have to sacrifice their belongings and valuables just because they are in a co-living environment with limited space.” “
Locally, fresh graduates new to the work force and looking to move out on their own are also prime candidates for the more affordable co-living (https://www.weave-living.com/en/hk/studios) environment. Most also have belongings and collectibles that need to be stored. In the spirit of the minimal financial outlay and lack of long-term commitment with co-living, RedBox’s DTD storage is also very user friendly. There is no minimum contract as well as no travel required as RedBox Mini Storage picks up and delivers the goods to your doorstep. “While this type of service is good for any renter with limited space, it’s particularly appealing to the younger generation,” said Alpe. “They are more attuned to a flexible lifestyle with convenient options, so this is perfect for them.”
While the concept of co-living has been around in some of the larger urban centers for close to ten years, it’s only over the last three or four that it has come into its own. Operators are not only expanding, they are becoming more aware of what the consumers are willing to spend and what sort of services they will require. The power of social media has also played a huge part in the growth of the service as well as the refining of and helping to remove some common stigmas of co-living.
The concept of sharing, while still maintaining your own space, seems much less intrusive than the traditional roommate model. It’s now considered a better utilization of space, as opposed to a compromise. Having a service that makes it easier to store belongings and valuables goes a long way as well towards enhancing the experience. It’s small wonder that companies like RedBox Mini Storage and Weave Living have simplified their customer benefits in a three-word mantra: convenience, comfort, community.
About RedBox Mini Storage
RedBox Mini Storage, Hong Kong’s largest storage facilities.
RedBox’s storage solutions: Self Storage | Self-managed storage units to suit every need; Door-To-Door Storage | We pick up, store and deliver your items when suits you; Business Storage | We offer tailored and flexible solutions to maximize your business performance; Packaging & Merchandise | Everything you need to protect your belongings.
RedBox Mini Storage make de-cluttering your residence simple and stress-free. For however long you need space for, we’re here to help. Whether it’s extra furniture, ski equipment, seasonal clothes or an extensive collection of rare antiquarian books, RedBox Mini Storage have a personal storage idea that will feel custom-made for you. Just tell us about your clutter and we’ll advise you the rest of the way. Your valuables are always in our care.
About Weave Living
Founded in 2017 by Sachin Doshi as a response to the gap in the market for beautifully designed and professionally managed living options, WEAVE LIVING currently owns and manages 579 rental accommodation units in Hong Kong across its three consumer brands: WEAVE STUDIOS, WEAVE SUITES and WEAVE RESIDENCES.
WEAVE LIVING offer flexible lease terms and move-in-ready homes with all-inclusive prices for a streamlined, stress-free rental process, its dedication to its residents and neighbourhood is matched by a commitment to the local community – via frequent collaborations with artists, brands and partners – to imbue WEAVE locations with a true sense of place.
For more information on Weave Living, visit https://www.weave-living.com/en/hk.