Basic FAQs Regarding Sharing an Apartment

There are often various doubts regarding the suitability, merits and demerits of flat sharing in London. But the good part is that there is a surplus of flats to rent in London and you can choose from a vibrant variety of rental properties as per your requirements. You can read on to understand the concept a little better: What is a shared apartment? Shared apartments are rental properties let out as whole by a group of sharers under a joint tenancy. These joint tenants are "jointly and severally liable", which means that any one (or all tenants) can be held responsible for the rent payments and various other obligations of the contract. How many types of shared accommodations are there? There are several types of shared accommodation however they can broadly be classified into four categories. ‘Flat or house share’ refers to a joint tenancy under same agreement; ‘rooms for rent’ (live out landlord) is a scenario where the landlord rents out on a per room basis and each tenant has a separate agreement with the landlord; the third type is ‘rooms for rent’ (live in landlord) where a landlord (or his family) stay in the house and simultaneously rent out one of the rooms to a tenant; and last one is the ‘sub-let’ arrangement in which 2 people rent a 3 bedroom property under a standard assured short-hold tenancy and further rent out the 3rd room and collecting the rent themselves. But this is not permitted under most standard tenancy agreements. Why should I choose a flat share? If you are a student or a bachelor living in London without a family, then you should opt for a flat share. It makes living more affordable and economical with 2 or more partners to share the bills of the accommodation. It also gives you a chance to build a support system in a new area. You can make friends easily and learn about the area, feel secure and come home to a group of flatmates to chat with!!! Which areas are recommended to rent a flat in London on sharing basis? The good part is that since you have decided now to take a shared accommodation, you can choose comparatively costlier areas too for living as the cost of accommodation is being shared among all the tenants in the house. So you don’t have to worry about paying for a big house or for that matter, not even for the area that you choose to live in!!! You can even consider the chic and affluent areas like Kensington, Notting Hill, Hyde Park, etc. What other things should be considered while getting into a joint tenancy?? Things can get tricky if you are in a joint tenancy and if or when one of the flat/room mates decides to quit, it can affect the bills and rent that you pay. In some cases, landlords allow a replacement flatmate to be found by one the existing tenants, but the void period may still affect your rent. Another thing to check beforehand would be if your friends and guests are allowed access to the house and if they can stay over at the apartment for a day or two.