Worth Sharing

By in Blog with 0 Comments

Higher rents and fewer people buying have led to increasing numbers of people, not just students and couples, choosing to share the cost of rental accommodation.

From a landlord’s perspective this should be welcomed – two or more people become liable to look after the property and pay the rent, thereby halving the risk. A single tenant losing their job could present a problem – but this can effectively be underwritten by allowing/encouraging a shared tenancy.

Although similar to renting to a couple, there are advantages to renting to people who may not be romantically associated. For example, a failing relationship could trigger the end of a tenancy, but this could not happen with two or more single people. If one of them changed their plans, then it can be relatively simple to replace them with another co-tenant pleased to have found a more affordable alternative to renting alone.

We often prepare tenancy agreements that provide for each tenant to be responsible for paying their share of the rent until they can be replaced by another co-tenant. And should they fail to pay their share under a joint tenancy, then the remaining tenant would assume liability. This “peer pressure” can be an effective way of ensuring rent is paid reliably.

Sharing also increases the likelihood of renting faster. At a time when the market is not necessarily saturated with prospective tenants, by appealing to sharers as well as individuals, couples and families, landlords increase the pool of likely tenants. This can also have the effect of increasing the rent too, due to higher demand.

However, landlords should be careful not to rent to too many sharers at once and potentially triggering strict HMO (Houses in Multiple Occupation) regulatory requirements. Please ask us for details of how best to take advantage of this opportunity, on 01242 257333 or 01452 597994.

Share This
George Tatham-Losh

Since forming the business in 2009, our founder, George Tatham-Losh, has become highly regarded as the local go to expert for advice on maximising property values and getting the most out of property investments, regularly speaking at events and holding well attended seminars. Born and raised in Cheltenham, George knows the town and County like no other and knows what works in the area. Alongside George is a specialist team of agents with a wealth of experience to help you sell, buy, let or rent property in Gloucestershire.

Blog Post Disclaimer

This is a personal blog. Any views or opinions represented in this blog are personal and belong solely to the blog owner and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated. Any views or opinions are not intended to malign any religion, ethnic group, club, organization, company, or individual.

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

Downloadable Files and Images Any downloadable file, including but not limited to pdfs, docs, jpegs, pngs, is provided at the user’s own risk. The owner will not be liable for any losses, injuries, or damages resulting from a corrupted or damaged file.

Comments Comments are welcome. However, the blog owner reserves the right to edit or delete any comments submitted to this blog without notice due to :

  • Comments deemed to be spam or questionable spam.
  • Comments including profanity.
  • Comments containing language or concepts that could be deemed offensive.
  • Comments containing hate speech, credible threats, or direct attacks on an individual or group.

The blog owner is not responsible for the content in comments.

This blog disclaimer is subject to change at anytime.

If in considering action upon the contents of this blog, one should always seek professional advice.

We Won Banner We Won Banner