Harrington Solves Students' Housing Woes With Affordable Urban Co-Living Solutions
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Going to college is an exciting time, and for many students, this is often the first time they will be living independently from their families. However, there is a student housing crisis in the US, with a shortage of both on-campus and off-campus accommodations. This has resulted in rising student housing prices, which, in some areas, have become unaffordable for many students. This difficulty in finding suitable student housing is not isolated to the US, as students in Canada and the UK are facing similar issues.
Harrington, a leading co-living provider in North America and the UK, is transforming the student housing leasing sector with its innovative, scalable, and tech-enabled business model that harnesses the sharing economy, allowing it to expand to almost 4,000 units in 18 major cities across three countries. According to Harrington, co-living is the most practical solution to housing affordability, allowing university students to take their minds off housing worries and, instead, focus on their studies.
To make urban co-living more accessible and affordable, Harrington's properties are located in city centers near major universities and feature more space-efficient floor plans. According to the company, the primary drive for co-living is pricing and co-living residents not wanting to pay extra for common areas or spacious living rooms. All properties have flexible lease terms, catered especially for students' needs during semesters, and are fully furnished with high-speed internet access. These are located in quality buildings and feature amenities such as study areas, gyms, and smart TVs, with some buildings having swimming pools.
Many co-living and housing providers have lengthy and stringent requirements to lease units, making them difficult to access for most students. Harrington has removed most of these barriers, putting housing in reach for more people. Despite this, the company still creates a secure experience for renters. Its roommate default protection feature prevents students from being burdened with a huge increase in rent if their roommate has become unable to pay. It also provides a guarantorship service for international students.
Aside from providing affordable student housing, Harrington also creates enriching experiences for student tenants who come from more than 60 countries. It fosters a friendly and accommodating atmosphere, with various social activities and amenities that provide more chances for students to interact with their peers.
Furthermore, what sets Harrington apart from many other co-living providers is its tech-enabled platform. The official Harrington app's lend-to-lease automation feature allows students and young professionals to instantly rent a room, just like booking a hotel. The resident app also provides tenants with various services, such as online rent payment, support requests, and lease extensions, all on a single platform. Soon, the platform will be expanded to include landlords who want to list their properties for rent as part of Harrington's network. In 2023-2024, Harrington achieved an occupancy rate of 97%, which exceeds the industry average of 88%. This shows how its business model is more favorable to the growing university student populations in the US, Canada, and the UK.
"Harrington is committed to excellence, consistently delivering unparalleled experiences for our customers and fostering robust partnerships built on trust and quality," says Jonas Emre, Founder and CEO of Harrington. "Together, we're not just creating spaces to live but fostering communities and opportunities. Our ambition is to be a home away from home for our members, providing them with a gateway to an international community and a flourishing network."
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