Landlords could charge a premium on HMO rooms by helping to ensure tenants will get on with their housemates, a new survey reveals.

HMO management platform COHO found that although affordability is important, the social aspect of a shared living arrangement was a big benefit to tenants. While 26% thought like-minded housemates were preferable but cheaper rents were more important, 47% would be happy to pay as much as 10% more in rent to find the perfect house share.

Almost 40% of respondents would be more eager to make their move to a shared living property knowing that they are compatible with their housemates.

Opportunity for landlords

Vann Vogstad, of COHO, says it’s now increasingly common for people to seek out a shared house as a lifestyle choice - and that presents a real opportunity for landlords.

“In order to have a good social experience when living in a shared house, it’s vital that you get along with your housemates, yet it remains far too common for tenants to have little control or insight over this compatibility before moving in because they’re not given a good enough opportunity to understand the personalities, interests and lifestyles of the people they’re agreeing to live with,” he said.

“HMO landlords who can provide their existing and prospective tenants with a good level of insight into the people they’ll be living with have a better chance of creating a relaxed, harmonious vibe in the house,” he added.

“Not only are you going to reduce tenant churn and, therefore, void periods, but as our survey reveals, you’re also creating the opportunity to charge a premium on your rent simply for giving your tenants the best chance of living with people they like.”

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