Specialist House Share, Rooms To Rent & H.M.O. Consultancy

Nationwide rooms to rent (house share) agency to help take the pressure out of finding a room to rent or a lodger. H.M.O. licensing consultancy and hands on management for professional house shares and H.M.O. property.

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Lodgers, isn't that all a bit 1970s?

Not at all, haven't you heard....the lodger is making a comeback.

Why should I take in a lodger?

If you've got an empty spare room you can earn up to �4,250 a year tax free by renting it out. Lodgers these days are often young professionals who can't afford their own place but want somewhere comfortable to live along with a decent flatmate to share with.

If you're looking to buy a property there are specially designed products available for those thinking of buying an extra room specifically to rent out. These mortgages allow you to factor in a certain amount of rental income when working out how much you can borrow. See Buying to Share Mortgages on Spareroom.co.uk for more information.

How can I be sure I'm getting a good lodger?

You can never be 100% certain but there are steps you can take to make sure you pick the right person. Spareroom.co.uk has a useful guide to help you choose the right lodger or flatmate

What are the benefits?

Well, there's the money (which will help you afford your mortgage). It's not just financial though, finding the right person to share with gives you the benefit of company whilst allowing you to maintain your independence if you want to. If you're not sure you want to have someone around all the time you could consider renting your room out on a weekday basis. If you live in, or near to, a big city or area of employment you may well find someone who wants a room between Monday and Friday to avoid commuting but travels home for the weekends. It's a growing trend and you get the balance of a bit of extra cash while keeping your place for yourself at weekends.

How much can I charge?

Have a look on Spareroom.co.uk to see the range of rooms available in your area and use their handy rent checker to see the average prices. This should give you an idea of what the going rate is.

How do I advertise?

Advertising your room online is by far the best way of doing this. Not only will you get to upload photos and video to illustrate your listing but you'll have much more scope to describe what's on offer. In addition you'll be able to search for people who are looking for a room in your area. Check out Spareroom's tips on advertising your room online.

Why share?

Sharing can be a fun and inexpensive way to live. According to a survey conducted by SPAREROOM.co.uk, the UK's leading flat and house share site, 58% of those asked said they chose to live in a flatshare for both social and financial reasons.

One bed flats and studios are expensive and, generally, the more of you there are the more you'll get for your money. If you live on your own you still need a kitchen, a bathroom and a living room - by sharing you're effectively splitting the cost of these rooms. Not only that but you'll always have people around when you want company and your own room for when you don't.

Who will I be sharing with?

The answer to that is anyone! The range of sharers covers everyone from students and young professionals to families, couples and people in their 60s and over. The flexibility of sharing (along with the opportunity to make some tax free income through taking in a lodger) has lead to a real broadening of the flatsharing community.

Find all sorts of shares such as:

• Professional house shares
• Student flatshares
• Families / home owners looking for a lodger
• Whole houses & flats to let suitable for sharing
• Rooms for couples
• Monday to Friday lettings
• Short term lets

Flatsharing has become increasingly popular with young professionals in recent years. This is in part due to rising house prices but also to people generally choosing to settle down later in life than has previously been the norm. As a result the average age of flatsharers (according to SPAREROOM.co.uk) is 33 and rising. Sharers are increasingly looking for comfortable, quality accommodation and it's no longer the case that shared accommodation is likely to be cheap and basic. A brief search on SPAREROOM.co.uk throws up everything from rooms in shared houses in London for as little as �300 per month up to luxury en-suite double rooms in flatshares in West London for �1200 per month and upwards.

How can I go about finding the right flatmates?

Have a look through the rooms for rent adverts on SPAREROOM.co.uk and see which appeal to you. Once you've got a good idea what you're looking for you should place a flatmate profile aka a 'room wanted' ad. This will give you a chance to tell people a little about yourself plus give other users a chance to find you on the site. For more reasons to place a 'wanted ad' go to SPAREROOM.co.uk

Why should I rent my property by the room?

With no sign of the current love affair with buy to let slowing down many rental markets are becoming saturated, so rents are being kept down by a high level of competition. By-the-room lets are one way of avoiding this and there are several reasons why you should consider renting by the room.

Firstly you can get more rent for you property let by the room compared with as a whole, in some instances up to twice as much. You'll also have less chance of having your whole property empty at any one time - if one tenant leaves you'll still have rent coming in while you find a replacement.

The average sharer in the UK today is more likely to be a young professional who's looking for a high standard of accommodation to share until the point they are able to afford to buy. As a result there's a strong market in many areas for good quality accommodation to let by the room. Look on SPAREROOM.co.uk to see the range of rooms available in your area and use their handy rent checker to see the average prices.

What about HMOs?

HMO (House in Multiple Occupation) generally refers to a house split into bedsits, a flatshare where each tenant has their own tenancy agreement or students living in shared accommodation. An HMO must be registered with the local council if the property has 3 or more storeys AND is occupied by 5 or more people in 2 or more households. In general you should check with your local council but if you can answer 'yes' to the following 3 questions you may well need a license :

• Does your property have 3 or more storeys?
• Is the property let to 5 or more tenants?
• Do tenants share facilities?

See SPAREROOM.co.uk's HMO advice page for more details.

Is it true that there are new laws to deal with deposits?

Yes. As of April 6th 2007 the law regarding tenancy deposits has changed. All deposits taken by landlords must be protected by a Tenancy Deposit Scheme. The scheme applies to all assured shorthold tenancies (the most common type in the UK) and is intended to protect deposits and help settle any disputes regarding return of deposits when a tenancy ends.

There are two types of scheme available and the landlord can choose which to use. The first involves the deposit being handed over to a custodial scheme during the period of the tenancy and the second allows the landlord to keep hold of the deposit whilst paying a premium to an insurance service (this premium will go towards the scheme's running costs). Go to SPAREROOM.co.uk for more information on these schemes.

What are the risks of renting and how can I protect myself against them?

There are risks attached to renting out your property but, with a little common sense and forward planning, you can do your best to minimise them. Consider Landlord Insurance, it may cost more than regular insurance but it can cover anything from a replacement boiler to loss of rent if your tenant does a runner. As with all insurance is peace of mind you're paying for as much as anything else.

How do I find and keep good tenants?

If your accommodation is of a good standard and you make a little effort up front the chances are you'll attract the kind of tenants who will want to stay and will look after the property while they live in it. Here are a few simple tips to get you on the right side of your tenants:

• A clean, comfortable property will command a higher rent and attract longer term tenants. People renting a room want a comfortable home just as much as people who rent a whole property.
• Make sure your property is clean and well decorated before tenants move in, if you start with a scruffy property it's unlikely your tenants will go out of their way to maintain it. Leave a supply of cleaning products in the property so tenants don't have to go out and buy their own.
• Ensure you've got everything covered in the tenancy agreement at the start - lay down exactly who is responsible for what so there are no unpleasant misunderstandings later on.
• Be friendly and approachable. If there are problems you need to know sooner rather than later so make sure your tenants know how to get hold of you if they need to. Get any problems sorted quickly and keep a note of reliable tradesmen to call on for repairs.
• It doesn't do any harm to leave a pint of milk and a loaf of bread (or even a bottle of wine) for incoming tenants. Moving into a new property is stressful enough so little, inexpensive touches like this will be remembered.
• Advertise your property with a little thought. Taking a few more minutes on your listing will pay off so make time rather than fitting it in between other jobs. Look at a few other ads and see which would appeal to you to get a few pointers on what to say. Spareroom.co.uk has some great advice on advertising your room to help attract the right tenant.

Is Spareroom any good?

"I've tried newspapers, magazines, trade newspapers and estate agents. All were useless and expensive! I now only advertise on the internet. 90-95% of my tenants (who actually sign up and move in) come from the Spareroom website. I do use other sites but they are nowhere near as good or, more importantly, as profitable as using Spareroom. Thanks." - Alistair Lawes, Executive Rooms, Birmingham.

Flatshare terms

Flatshare listings are full of confusing terms and jargon and, especially if you're not used to them, they can be a little confusing at times. Here's a quick guide to some of the phrases you're most likely to find in a flatshare listing. For a full list see Spareroom.co.uk's Flatshare Glossary.

Bedsit

Single room accomodation which serves as a bedroom and living space in one. Generally sharing a bathroom and/or kitchen with others. Abbreviation of 'bed sitting room'.

Bills included

Means utilities such as gas, electricity and water are included in the rent. Council tax and other bills such as phone or broadband may be included but check in advance which bills are covered.

Buddy up

Seen a 2 bed+ flat or house you like but can't afford it on your own? Why not club together with friends or like-minded people on spareroom and start your own flat or house share? To find out what implications this has in terms of tenancy agreements etc, see our guide to buddying up.

Bungalow

A single storey house.

Buy to let

The term used to describe buying a property with the specific intention of renting it out rather than living in it.

Contents insurance

A policy covering your personal posessions, clothes, furniture etc as opposed to Buildings insurance which covers the structure itself. See also Room contents insurance.

Contract

A written agreement between the tenant(s) and landlord, signed by both parties, setting out the terms of the tenancy. See 'Tenancy agreement'.

Conversion

Refers to a house which has been divided to make 2 or more flats.

Cottage

Generally refers to smaller rural properties.

Deposit

A fixed sum taken by landlords/letting agents at the start of a tenancy to cover reasonable losses (rent arrears, damage etc.). See also 'Tenancy deposit scheme'.

Detached

Refers to a house which is completely separate from its neighbours.

Double room

This applies to the size of the room and means a room that has, or can fit, a double bed.

Ex-local authority

Refers to a property which was formerly owned by the council. Often, especially in London, this refers to purpose built blocks of flats.

Flat

Generally refers to a property occupying only part of a building, known as an apartment in the US. Blocks of flats can be purpose built or in converted houses.

Flatmate, Flat mate, Flatmates, Flat mates

A term mainly used in the UK and Australia to describe someone who shares the flat or apartment with you. Generally housemate is used when the property is a house.

Flatshare, Flat share

Sharing a property (usually a flat) with one or more people where each person usually has their own bedroom. See also 'Houseshare'.

Garden flat

Literally a flat with a garden.

House

Usually refers to a whole property. One house can contain several flats.

Houseshare, House share

Sharing a house with one ore more people. See also 'Flatshare'.

Inventory

Some landlords/agents ask tenants to sign an inventory at the same time as their contract. This is a list of all the fixtures and fittings in the room and their current condition. Always check carefully and report any mistakes or ommissions BEFORE signing. Once signed, this document provides proof to protect both the tenant and the landlord when inspecting the room on moving out.

Live-in landlord

A homeowner who rents out one or more rooms in their property whilst living there themselves.

Live-out landlord

A landlord who rents a property they do not live in themselves.

Lodger

A lodger is a tenant who rents a room (or rooms) in another's house, usually from a Live in landlord.

Maisonette

A flat on two levels with internal stairs and/or it's own street-level front door.

Master bedroom

Usually the biggest bedroom in a property.

Mews

Mews are traditionally rows of former stables converted into residential properties. The ground floor stable area is generally a garage and the living quarters (which would have housed the ostler) are above.

No DSS

Not available to those reliant on state benefits to pay their rent.

Pcm

Per calendar month.

Purpose built

Refers to a collection of flats built as such rather than a conversion.

Pw

Per week.

Room contents insurance

A specific policy to cover those who rent a room within a property.

Roommate, Roommates, Roomate, Roomates

An american term which is now used internationally due to American film and TV. As the name suggests it can either be use to describe someone who shares a room with you, or who shares a flat or house with you (i.e. they don't have to be in the same room to bes described as a roommate!).

Semi or Semi detached

Refers to two houses joined together.

Sharers

A term usually applied to those living in shared accomodation together.

Short term let

Refers to a tenancy generally lasting for 3 months or less. Standard tenancies are usually 6 months and above.

Single room

Refers to a smaller room with space for a single bed rather than a double.

Speed Flatmating ?

Find a flatmate using the speed dating format.

Studio

Generally a single room for cooking, living and sleeping with its own bathroom.

Tenancy agreement

A contract (verbal or written but usually written) between landlord and tenant. The contract outlines the rights both parties have (eg. your right to occupy the property and the landlord's right to receive rent from you). See also 'Contract'.

Tenancy deposit scheme

A government scheme introduced in 2007 to safeguard deposits taken by landlords.

Tenant

Someone who rents and occupies a property from another.

Viewing

Showing someone round (or being shown round) a property.

An introduction to flatsharing

So what exactly is a 'flatshare'?

Simply put a flatshare is when a group of two or more individuals join together to rent a property. In most cases each person has their own bedroom and communal areas like living rooms, kitchen and bathrooms are shared.

Why should I consider sharing?

Sharing is a much more economical way of living than living on your own. You'll still need a kitchen, bathroom and living room if you live on your own so, by sharing, you split the cost of these rooms with the other housemates. You can also split council tax and bills which helps keep costs down. Sharing can also be great socially as you'll get to meet new people, sharers often end up lifelong friends.

How do I go about finding a room?

With the advent of online listings sites it's easier than ever to find a good flatshare. Until recently people had to rely on print adverts in local newspapers to find a room and, due to the slow turnaround of print media compared with online, rooms had often gone before the paper even reached the newsagents. Online listings on site such as Spareroom are updated hourly or even every 30 minutes so are far more up to date. In addition an online ad gives you the chance to add photos, detailed descriptions and even video to your listing so you can see exactly what the room is like before you trek accross town to see it.

Who will I be sharing with?

Pretty much anyone is the answer. Flatshares are no longer the sole territory of students and low income twenty-somethings, today's sharer is just as likely to be a financially independent professional in their late 20s or early 30s who expects a high standard of living. The average age of flat sharers in the UK, according to a survey of Spareroom's 400,000+ registered users, is over 33 and rising every year.

Advertisers on flatshare sites include teenagers, families with a spare room to rent and parents whose children have left home and want to rent their room out for a little extra income. With such a wide range of options you're bound to find something to fit your needs.

Is there anything I can do to help me find the right flatshare?

Obviously you can check all the listings for rooms in the areas you want to live in but it might also be worth placing a 'Room wanted' ad. You'll be able to tell people where you're looking to live, how much your budget is and a bit of general info about yourself. Many advertisers and landlords regularly check the wanted ads for suitable sharers so give yourself the best possible chance. Spareroom.co.uk have some useful tips on placing a room wanted ad.