How can shared housing address affordable living needs?

Affordable housing remains a pressing issue across the US. In this episode, Tari Thomas offers an insightful look at an innovative solution – shared housing.

Tari Thomas is the founder of There’s Room, LLC, a socially conscious start-up business. There’s Room's mission is to solve the affordability gaps of city living one room at a time. Inspired by her sister’s own challenges with finding affordable housing, Tari started There’s Room, LLC in 2018. A 16-year veteran of Intel Corporation, she has been recognized as a go-to leader for quickly synthesizing complex business problems that mobilize strategy to actionable results. During her tenure, Tari managed numerous new product development initiatives impacting over $250M in revenue.

She has an engineering degree from the University of Michigan, and her MBA from Thunderbird School of Global Management. She is currently part of Valley Leadership Institute Class of 41, a youth leader of Faith Christian Center, and a proud member of Delta Sigma Theta Sorority, Inc.

[00:01:00] - [00:04:40] What is modern shared housing?

• New shared housing communities differ from outdated “trailer park” stereotypes
• Offer private bedrooms with locks plus shared common areas in nice neighborhoods
• Residents represent diverse demographics seeking affordable rents

[00:04:40] - [00:08:15] Who benefits from shared housing?

• Serves people across ages and incomes - students, seniors, middle-income workers
• Rapidly rising rents in cities like Phoenix, provide savings while enjoying privacy and community
• Screening ensures responsible tenants

[00:08:15] - [00:12: 45] How does the shared housing model work?

• Company masters lease entire homes, and rent individual private bedrooms on 3-month leases
• Residents agree to house rules and share cleaning responsibilities
• Provides income for homeowners while offering affordable rents in desirable areas

[00:12:45] - [00:015:45] Shared housing trends

• The concept is growing, with interest from seniors, veterans, young adults aging out of foster care
• Purpose-built shared apartment buildings now exist too
• The model provides community and suits groups wanting cooperative living

[00:15:45] - [00:18:25] The impact of COVID and rising rents

• Pandemic and skyrocketing rents amplified the need for creative affordable options like shared housing
• Allows residents to save significantly on housing costs

Quotes:

"These are nice mobile home communities with like driveways, streets, actual yards. It's not that old ideal." - Tari Thomas

"I've even seen an apartment complex that was developed specifically with a co-living, shared living set." - Tari Thomas

Connect with Tari

Website: https://www.theresroom.com/

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