Finestate and its coliving residences in Paris
Find out more about Finestate and its coliving residences in Paris. Maryse Aulagnon, our CEO, answers several frequently asked questions.
How is the Finestate concept new in France?
For several years now, lifestyles have been changing and working people have been expressing new needs: mobility or even nomadism, telecommuting, the search for temporary housing in tense urban areas, the fear of isolation in large cities, and an ecological approach that is part of daily life. In response, Finestate offers, more than furnished housing, a flexible way of living that is free from the constraints of traditional rental, accompanied by services and spaces to be shared by the building’s residents; all within the framework of a CSR approach, to which Finestate is very sensitive: we have transformed obsolete office buildings into coliving residences with eco-responsible installations and furniture, from design to operation, while contributing to the animation of the neighborhoods where we are located.
This concept of a flexible, all-inclusive housing model, for living at home as if in a hotel, with all the necessary services, is already operating in several countries, notably in New York and London, but it is still in its infancy in France (apart from student residences or senior residences, which are aimed at other markets).
Can you present your coliving offer in Paris?
Finestate’s offer consists of a furnished and decorated studio apartment, entirely autonomous, with hotel services, in a residence with generous community spaces for free use by residents, in a new or completely renovated building, close to public transport. It is offered at an all-inclusive flat rate, with no agency fees from one month’s rental.
Finestate has chosen a business model that is low on costs and administrative constraints. The company provides operational management, either directly or through the use of external service providers whose quality it controls: reservation and collection of rents via a digital platform, community intranet, concierge service, local services, etc. These cost savings also result from the B2B approach, which favors economies of scale: Finestate favors companies that are looking for quality accommodation for their executives on business trips or missions, where simplicity is the key word, from booking to invoicing: as a result, the legal link adopted between Finestate and its customers is a service contract, free from the constraints weighing on commercial or residential leases. Nevertheless, individuals are also welcome in the residences.
What are your development prospects for your coliving spaces for the next 5 years?
We want to become a major player in the coliving sector in Paris and perhaps in other European capitals, particularly in Brussels where we have already worked, made an initial investment and are looking at new opportunities; we have financial partners willing to support us in these operations, and we believe that the demand for this type of service is strong and will tend to develop further.