Rising rents force 100,000 more into flat-share market.

A specialist flat-sharing website claims rising rents have forced more than 100,000 new renters into flat-sharing over the last year.
The average number of renters living as flat-mates or lodgers has risen to 2,851,000 as renters have started living together to share living costs.
What could have led to a desperate shortage of rentable accommodation has been avoided, due partly to more and more homeowners renting out spare rooms.
The average number of people per flat-share also increased from 3.1 to 3.2 people in August.
And with 1 in 3 flat-sharers not foreseeing renting their own property in the next 5 years, if you’ve been thinking of taking in a lodger to help cover mortgage and utility bills, then there would seem to be no shortage of willing tenants.
Do your homework first though before taking in a lodger. There are plenty of online resources on the subject including agencies that will help you find a tenant.
photo credit: tony hisgett
This story appeared in our weekly homeowner newsletter dated 12th September 2011. Click Here to read the full newsletter.

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