propertytalk Live! - Cheaper to lodge than rent shared flat

propertytalk Live! - Cheaper to lodge than rent shared flat

It is cheaper to lodge with a homeowner than to split the cost of renting an equivalent two-bed flat with a friend in most UK towns.

Flatsharing website easyroommate.co.uk analysed the average cost of renting a two-bedroom flat compared to the cost of renting a room in the 50 largest cities and towns around the country.

The research shows that in 41 of the UK’s largest towns, renting a room with a live-in landlord (lodging) is cheaper than sharing a rental property.

The UK’s 472,000 lodgers put a total of £2.3billion a year in rent in homeowners’ pockets – compared to the £9.8billion spent in rent each year by the 1.9 million who flatshare with non-homeowners.

Jonathan Moore, director of easyroommate.co.uk, said: "Lodgers can get a much better address for their money in most UK cities than if they rent a flat.

"In theory their rights are restricted to just their rooms but in practice they can enjoy all the living space too. For homeowners, there is always a trade off between the inconvenience of having someone else living in your home, and the financial benefit.

"But the cost of homeownership is now so high in many cities that homeowners are increasingly looking to rent out spare rooms. In these areas, competition amongst live-in landlords is keeping rents much lower than in the wider rental market."