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VICOs: Shared housing as a business

Businessman working in the real eastate business showing the profit of the shared housing business with a calculator
Shared housing: a promising business

With the increase of foreigners arriving in Colombia and Medellin, the housing sector is one of the most benefited, thanks to shared housing as a business.

Whether it’s the friendliness of the people, the landscapes or the academic opportunities, people from all over the world come to Colombia and help to create new opportunities.

Group of foreigners from all around the world visiting Medellin.
Photo: El Colombiano

The national market is growing thanks to the dynamics of globalization and without a doubt completely change the business models. And shared housings are a model that benefits everyone involved.

Especially, it benefits tenants throughout the city. It can be a student who makes an exchange or a freelancer who arrives to stay for a few months.

What is a VICO?

A VICO or shared housing is a concept that emerged in European student cities.

Basically the concept focuses on creating an experience of friendship and coexistence in medium and long term to those who need a space to live.

The space is facilitated by the tenant or owner. It can be an apartment or a house.

However, there is always a more effective relationship between those who live in the house and the owner.

Thanks to VICO, which manages and mediates the rent of the room in a much more effective way, renting your rooms is a lot easier.

Young caucasian man arriving in his new shared housing in Medellin. He his shaking hands with the owner. They both look very happy.

How can I make money with a VICO?

Shared housing generates more income if the entire capacity of the space offered is rented. In Medellín, the price threshold can vary from 500,000 COP to 1,500,000 COP.

Everything depends, since every room is different. For example, rooms with private bathrooms are usually the most expensive and the most wanted.

The incomes for the rent from all rooms can cover some fixed costs of the apartment.

As long as there is proof of mutual agreement on the price, times and means of payment, there are no limitations to take advantage of the potential of leasing a furnished home.

Publicity to find a room in a shared housing in Medellin with VICO

Why is a VICO a very attractive business?

Shared housing as a business helps to save time, time that you can invest in other things.

If you are an owner, the publication of the all information from your property is for free!

The next step and one of the most important is to contact people.

Many tenants in Medellín are quite proactive and do not have the time to look for each of the potential occupant.

With VICO it is quite easy to make reservations.

Legal situation: We are not tourists

Some platforms such as Airbnb grow in popularity, however you as a tenant must know the local regulations to provide this service.

Although the Airbnb experience helps to create a cultural experience, it is in short-term and for this reason it is a service related to hotels and tourism.

In general, countries ask for permits from individuals who can offer their property for this purpose.

The shared housing as a business is viable in the medium and long term.

Mainly for the stability that a foreigner who comes to study or work supposes.

Also everything depends on the rules and the legal situation of the house.

A house owner is filling up a legal form on a table on which are displayed house keys and a miniature of a house.

People who choose to live in VICOs study in a university or work in a company and have a stable legal situation in the country. In other words, you don’t have to worry about their legal status and it’s a proof of stability and security.

There is no better business in which everyone is satisfied.

We know that transparency and good communication are essential for more people to continue joining the VICO community.

VICOs: Shared housing as a business Publicity Looking for a VICO 1

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