PodShare, a Silicon Valley startup, is providing “co-living” accommodations where you can rent a bunk bed for $1,200 a month.
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The CEO behind the communal living space said she is building a universal housing network as a byproduct of the affordable housing crisis.
“You really have to consider us as a bridge housing opportunity or someone just getting their feet wet in a new city and wants to try before they buy into different neighborhoods before that annual lease,” PodShare CEO Elvina Beck said on FOX Business’ “After the Bell” Thursday.
The Podshare rentals have hosted 65,000 people since 2012 at six locations across Los Angeles and one in San Francisco. Beck said the duration of stay lasts for about a month for most occupants and the pod style living space allows flexibility and affordable housing as an option for tenants to live in more desirable high-priced cities.
“If you don’t like your whole location, you can transfer across the network unlimited,” she said. “So you don’t want to live in Venice, you go to downtown, you go to Hollywood. Imagine this across the world one day.”
Beck said the rentable pods are a bargain because it allows tenants the opportunity to budget their expenses by paying daily in cash.
“Forty percent of Americans can’t afford a $400 expense,” she said. Forty dollars a day, every single day, is housing for them.”