Paying guest accommodation (PG), hostel accommodation, and coliving spaces usually have an overlapping meaning as these type of accomodation have emerged in the recent times and have seen a drastic change in the form and type over the last few years.
They are the most cost-friendly choices for those looking to stay medium or longer term duration as they are ready to occupy and come with all the required amenities to lead a comfortable life.
PG and coliving are more analogous to furnished rental spaces but vastly differ in terms of the amenities and perks they offer. This is because PG is operated by individuals who are renting out a room to a guest within their home, and coliving is operated by businesses who rent out rooms within entire units to like-minded residents who value resource sharing and communal living.
Coliving spaces are managed by businesses that offer professional services and host community gatherings and events. PG is more like a private furnished homestay with basic support from the owner but little to no community involvement.
Hostels, on the other hand, are more of a middle ground between hotels and dorm rooms. They often provide bunks within shared rooms and the people who stay there have access to shared bathrooms and communal spaces. Hostel management teams sometimes put on events such as pub crawls or general entertainment outings, but the social aspect is far more community-led than management hosted.
Some times there is overlapping of the terms of the offerings as people type to market these formats to end users who are more familiar with one term over other. Eg: PG or Paying guest term is more common among the end users hence even some of the companies market the places as PG's even though what they are offering are coliving spaces.
With paying Guest usually you are opting for a private, home-style rental agreement without actually taking on the responsibilities of a homeowner or leaser. You are not renting an entire space, but rather simply a room within a larger shared unit. The owner is responsible for paying the bills and you do not need to manage anything besides your monthly fee.
Think of it as a blend of renting a traditional home and choosing a home with a few other co-living mates to live with you. You do not need to manage utilities, furniture, bills, or cleaning, but you do need to pay the owner or landlord to administer those additional services for you. However you do not have the flexibility to move in or out without much notice.
Commensurate to a rental agreement, you do need to sign a longer-term lease, but you are not the point person for handling maintenance or general apartment responsibilities.
Hostels are block of accommodation typically hosting similar kind of tenants who may also study or work together such as student hostel, nurse hostels, etc., As you are sharing your space and all the facilities with other people, hostels are often quite cheap. Some hostels do also offer private rooms with private bathrooms at a higher price point, and those setups are more similar to staying in a cheaper hotel.
Unlike hotels, though, hostels do not have maid services, room service, spas, gyms, restaurants or business centers. They do, however, often have shared spaces akin to dorms where people can gather in front of a TV to play video games, sit together and play board games, strum a guitar or play a game of pool, for example.
Hostels are best suited for travelers who are looking for short-term, cheap accommodation and do not mind sharing their space and facilities.
Coliving spaces are operated by businesses who rent out entire apartments or homes to coliving residents. The residents are provided with fully furnished, affordable accommodation within a like-minded, vetted community.
If you do decide to choose among this type of accommodation, RentMyStay.com is the world’s largest verified platform that aggregates these properties across various portals. We make it easy for you to search for your ideal Paying guest, PG, hostel or a coliving space in the city of your dreams. You can filter by cost, location, amenities, perks and more.