The cost of living in London has continued to rise in recent years. The rise in prices for homes and apartments has made flat sharing a more popular option for UK residents. Flat sharing allows residents to rent rooms at lower rates than renting an apartment or house. This way of living makes life easier for college students and working adults.
What is a Flat Share?
A flat share is a house or an apartment with rooms for rent. One room can be rented out per person or household depending on the person offering the flat share. The flatshare can be in a house with the owner still living there or it can be a house owned by a person who rents the rooms out to others but lives elsewhere.
Benefits of Flat Sharing
Flat sharing has many benefits for the person renting the room and the owner of the property. The benefit of a flat share for the renter of the room is a lower price to pay for housing. Instead of having to rent an entire property, a room can be rented alone, which is cheaper. It is also cheaper to rent a room because in most situations the renter does not have to pay any utility bills. Most flatshares do not require long stays so it can be easy to relocate. The property manager in most cases is responsible for the upkeep and maintenance of the property instead of the renter. Another great benefit of renting a room is that most rooms come furnished. The already furnished rooms are a huge benefit because furniture can be expensive. Some upscale flatshares offer cooked meals, cleaning, and laundry services for higher prices.
Flatshares benefit the property owner because they are able to make money from the rooms that they rent. Property owners who participate in flat sharing can earn extra income by renting out rooms that they do not use. Renting out rooms can generate more money than renting out the entire property because charging money per room is more profitable.
Different Ways to Find the Right Flat Share
Finding the right flatshare can be a challenge. There are many factors to consider when shopping for the right room. Knowing whom you are going to live with is the most important part of finding the right flatshare. Most women prefer to live in a property with only women, while men prefer living with only men. Finding the right location for a room to rent is also a major factor because certain areas in London are hard to find rooms in. For finding a flat share in London, there are helpful websites that can make the process much easier. These sites are perfect for finding the right flatshare for your needs because most allow searches to be done based on the area of choice. Many of the websites also include pictures of each room for rent so that the renter can see the rooms that they might be interested in.