Alternative Solutions for Student Accommodation
Co-founded by serial entrepreneur Bill Liao, social enterprise Generation Accommodation encourages older householders living alone to house share with students and young professionals.
Co-living has become a hot topic globally in recent years and Ireland’s housing market is not immune. Speaking about the trend, CEO Anna O’Flynn highlights the financial and social benefits of being part of an intergenerational community.
“It is a win/win for householders, who can earn up to €14,000 per year tax-free. In fact, most pensioners are unaware that this income has no effect on their non- contributory pension provided that if they were not renting out the room they would be living alone.”
For students and young professionals, they get a home-like environment at affordable rates. While the rents are agreed between the householder and the student directly, 40% below market rent is suggested by the organisation.
“The householder benefits from the additional tax-free income as well as the security and companionship of having someone in the home. Often this may be someone who is recently retired and finding it difficult to adjust to their new lifestyle or someone who has lost a spouse or someone they had been caring for. The home-sharer has the benefit of cheaper rent in a convenient location. Both parties have the bonus of becoming part of the Generation Accommodation community, which aims to foster a more integrated society,” explains CEO Anna O’Flynn
About the organization:
Generation Accommodation was founded in 2014 as Ireland's first intergenerational home share initiative. Co-founded and backed by serial entrepreneur Bill Liao, Generation Accommodation aims to solve the twin issues social isolation of senior members of our communities and the lack of affordable rental accommodation for students and young professionals.
Contact:
Anna O’Flynn
Tel: +353 83 806 6690
Email: Anna@generationaccommodation.org
