If you’ve been looking into moving out, the terms ‘house share’ and ‘flatshare’ have probably popped up during your search. So, what is a house share? It’s actually a term used to cover the different types of shared accomodation. Not only does house sharing help you meet other people when moving somewhere new, it can significantly cut the overall cost of buying or renting a property.
What is a house share?
As mentioned, there are several different types of house or flatshare to choose from depending on what you need. The best thing about house shares is that you don’t have to fork out for the property on your own; the rent and bills are split between those in the property.
The typical house share or flat share
The most common type of house share is where you’ll rent a property directly from the landlord. You’ll share communal areas with housemates but the landlord won’t be living at the property. Shared areas typically consist of the kitchen, lounge and bathrooms, although it is possible to find rooms with a private en-suite. If you aren’t moving in with friends, it’s always best to meet your future housemates and view the property before signing an agreement.
The main thing to look out for in this situation is the type of tenancy you receive. If a property is rented out as a whole rather than room by room and all tenants sign a single agreement, it’s referred to as a joint tenancy. Tenants don’t have exclusive rights over any of the property, meaning they must pick their rooms themselves. According to Shelter, joint tenants are all responsible for paying the entire sum of rent. This means that if someone moves out or fails to pay their share, the rest of the housemates will be required to cover the costs as you’re considered liable. Joint tenancies can become an issue when one person wants to leave but the others don’t, as their notice can basically end the tenancy. This is something to discuss with your landlord before moving in, as many will allow you to re-sign a new tenancy with a replacement flatmate.
If this isn’t for you, consider renting by the room and going for separate agreements. You will have exclusive rights over your room while sharing the communal areas. This way each tenant is only responsible for paying their own rent and aren’t expected to cover payments for other people. The downside to this is that if someone moves out, it’s down to the landlord to find a replacement, meaning compatibility may not be considered.
Lodging with a live-in landlord
Lodging is considered completely different from being a tenant. This is when you move into a property that the landlord lives in, so you’ll be sharing the space with them. Although the landlord has to give you a degree of privacy, being a lodger means they can technically access your room whenever they like. However, the properties can sometimes be more homely as the landlord is always there to take care of damage or repairs.
Monday to Friday Share
Popular in big cities like London, Monday to Friday shares are for those with long commutes. They are considered weekly boards, meaning those working in another city can stay during the working days and go home for the weekend. This can cut the cost of commuting and prevent exhaustion due to traveling.
Student accommodation is typically meant for those studying at university and are usually large family houses close by the campus. The tenancy are typically made with student loans in mind, meaning the rent usually comes out in bulk batches rather than monthly.
Student houses have short contracts as university terms are typically around 40 weeks, meaning students don’t have to fork out for rent when they won’t be there. According to The Telegraph, going for a private landlord can significantly cut costs and the fees associated with university agencies.
If you’re looking for a place to stay or want to rent out part of a property, why not try Badi? Get to know your potential flatmates or tenants through our secure messaging system, in depth descriptions and extensive list of filters.