LOS ANGELES (CBSLA.com) — The trend is called “co-living” – as in “togetherness”.

It’s cheap, it’s different, and some millennials are leaving mom’s and dad’s house to try this instead.

READ MORE: Comedian Louie Anderson Dies At 68 After Battle With Cancer

The difference between an apartment and a PodShare is no security deposit, you don’t have to pay for furnishing costs, and it’s flexible,” says Elvina Beck, CEO and founder of PodShare.

It’s that flexibility that Beck is banking on: PodShare is just one of the new co-living spaces opening up in and around L.A.

“People are giving up their apartments to go pay for experiences, not pay for houses, not pay for cars,” she said.

So how does co-living work?

In this case, you book the PodShare online, pick a location and show up.

It’s bare-bones: 50 square feet of living space, a bed and a TV, along with a bunch of new friends, since there’s no privacy and the beds all face each other.

What’s so great about PodShare? The price ranges from just $40 to $50 with the essentials.

“You get common things like the wifi, free electricity,” said Beck. “But you get free food and you get free toiletries and you get free bicycles to roam the city to jump around from one PodShare to another.”

READ MORE: Malibu's Leo Carrillo State Park Partially Reopens This Weekend; Pacific Coast Highway Down To 1 Lane In Ventura County To Repair Surf Erosion

Right now, Beck says they’re converting lofts around the city into living and working spaces.

“At our Hollywood location we have a green screen, a sound recording booth, we have a Dolby suite on all of the computers, so you can really DIY and you can be your own freelance digital nomad,” she said.

But what if you’re still not sure this kind of living is for you or your kids?

Beck says there are three “T”s that co-living is perfect for: travelers, transitioners, and temps.

“The tranistioner, they are moving to the city of L.A., they just packed,” said Beck.

Elise Degroot, 29, who is traveling the States from Belgium, says she met 21-year-old Nam Trinh from New Orleans. He was in the pod across from her traveling through California.

“Everybody talks to each other,” says Degroot. “It has kind of a homey atmosphere. You totally feel at ease. You can come and go as you like. It’s not that crowded. and the people are a lot more relaxed.”

Beck says she hopes this new model for living and working will eventually bring people closer together.

MORE NEWS: Meat Loaf, Entertainer Known For 'I'd Do Anything For Love,' Countless Other Hits, Dies At 74

“We are here to cure world loneliness,” she said. “Anyone that is traveling by themselves has this problem where they are alone. But it will be solved here at the PodShare.”