'Co-Living,' A New Alternative To Skyrocketing Rent

LOS ANGELES (CBSLA.com) — A new way of living called "co-living" could be the new alternative to Southern California's spiking rent, and it can be ideal for social travelers. But they have to be open to having a lot of roommates.

"Co-living is living amongst a bunch of strangers that soon become your friends due to the layout of the space," said Podshare CEO Elvina Beck.

Some millenials are leaving mom and dad's home to try this kind of cohabitating because it is cheap, almost like living in a college dorm.

"The difference between an apartment and a podshare is no security deposit. You don't have to pay for furnishing costs, and it's flexible," Beck added.

It's that kind of flexibility that Beck has been banking on. Podshare is just one of the new co-living spaces opening up in and around Los Angeles.

"People are giving up their apartments to go pay for experiences, not pay for houses, not pay for cars." the CEO said.

Here's how co-living works. You book a podshare online, pick a location and show up.

"Podestrians" get the bare bones, 50 square feet of living space that includes a bed and a television.

You get no privacy because the beds all face each other. But you do get to make a bunch of new friends.

"In our case, dormitory style, living with pods instead of bunk beds," Beck noted.

For $40 to $50 a night, podestrians get the following essentials: "You get common things like the wifi, electricity. But you get free food, and you get free toiletries, and you get free bicycles to roam the city and jump around from one podshare to another." Beck said.

Currently, the company continues to convert lofts around the city into living and working spaces.

"At our Hollywood location, we've got a green screen; we've got a sound recording booth; we've got a Dolby suite on all of the computers so you can really DIY and be your own freelance digital nomad," she said.

Elise Degroot, 29, is traveling the United States from Belgium. "Everybody talks to each other. It has kind of a homy atmosphere. You totally feel at ease," she said. "You can come and go as you like. It's not that crowded."

Nam Trinh, 21, from New Orleans is traveling through California. "I wanted to get out of the city for a little bit and see some place new," he said.

Beck said this new model of living and working will eventually help bring people together. "We are here to cure world loneliness. Any body that's traveling by themselves has this problem where they are alone. But it will be solved here."

This type of co-living setup has been popping up in other cities too, including San Francisco.