Is This The Only Way Millennials Can Live In A House?

By Jennifer Van Grove
The San Diego Union-Tribune

WWR Article Summary (tl;dr) “Bungalow” is kind of like a we-work for housing. It scouts for large, attractive rental homes in select markets, currently it’s in seven cities including San Diego, and then sublets rooms to individual renters, for four to 12-month periods, at a healthy markup.

The San Diego Union-Tribune

Live like a king at a pauper’s price? Not exactly, but you can reside at an estate on a budget, so long as you’re willing to share it with several strangers.

That’s the bargain offered by Bay Area co-living startup Bungalow, which has newly taken up residence in San Diego by leasing out two aspirational homes on a room-by-room basis.

The company offers millennials a version of the American dream, meaning a residence without their folks, in a premier neighborhood and with cushy amenities that are truly Instagram-worthy.

“We help housing become more accessible,” said Andrew Collins, the chief executive of Bungalow. “It’s a similar approach to how WeWork has thought about commercial real estate; we’re bringing that to residential real estate.”

More specifically, Bungalow scouts for large, attractive rental homes in select markets, urrently it’s in seven cities including San Diego, and then sublets rooms to individual renters, for four to 12-month periods, at a healthy markup.

It claims to repurpose unused space, occupying homes to max capacity that have been on the rental market for extended periods (likely because they’re too big for a typical family or a small group of friends).

For its part, the company employs an interior decorator to glam up the properties. Bungalow also completely furnishes common areas such as kitchens and living rooms. And the startup throws in house-warming freebies such as a big-screen smart TV, high-speed Internet access and monthly cleaning service. Pets aren’t invited.

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