This is where younger individuals or couples live with older adults at a nominal cost in exchange for companionship and support.
Research carried out for Aviva Insurance Ireland found 59pc of renters believe the Government should support and promote the idea.
Greater use of such an arrangement would help alleviate the rental crisis, which has seen average rental costs top €2,000 a month.
Renters are struggling to secure affordable accommodation while trying to save for a home.
Today’s news in 90 Seconds – Tuesday, August 5th
Researchers from iReach Insights asked renters about the perceived benefits and their concerns associated with such intergenerational living.
The survey found those aged 18 to 24 were more in favour of the idea of intergenerational living, compared with those over the age of 55.
Over half of 25- to 34-year-olds agreed the Government should promote intergenerational living programmes, the survey found.
Some respondents believed it would provide an enhanced sense of community and support
Top benefits were seen as companionship for the elderly; reduced living costs for young people while allowing them to save; and support with household tasks or food shopping for the elderly.
Additional benefits included an opportunity for cross-generational learning.
Four out of 10 saw value in younger people learning from older generations, while close to a third noted the reverse.
Some of the respondents believed it would provide an enhanced sense of community and support.
But privacy concerns were an issue for almost half of the renters who responded to the survey. And the potential for conflicts or misunderstandings was another issue highlighted.
Other concerns included upsetting the status quo for the older person, health and safety issues and concerns over household bills and energy costs.
Aviva’s underwriting and product lead Julie Frazer said: “Given the myriad challenges facing those looking to secure accommodation in today’s rental market, perhaps it is time that the Government explored what other options are available.”
She said there need to be more options for young people looking for accommodation when away from home in third-level education, and for those starting their working lives and hoping to get on the property ladder in the future.
“Intergenerational living may just provide a sensible solution for many,” she added.
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