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HOW TO FIND A ROOMMATE?

Deciding to rent is an exciting time but do you rent a room? Or do you go ahead with renting a buy to let? We’ll run through the main differences between them both and list the pros and cons to help you make your decision.

Renting a Room

When you’re renting a room, the most popular form of doing this is moving into an HMO (House in Multiple Occupation). These types of properties are designed to have a number of tenants and many come with your own private en-suite off your room with a shared communal living room and kitchen.

Benefits:

  • Most rooms will come furnished
  • Many properties include the bills within the monthly rental payments
  • Quite often it can be cheaper to rent a room opposed to renting a buy to let

Cons:

  • You could be moving into a shared house with people you don’t know
  • You have to share kitchen and living room space with the other tenants
  • You might not get on with everyone that you’re going to be living with

 

Renting a Buy to Let

A buy to let is when you rent the whole property to yourself, this can be anything from a one-bedroom apartment to a seven-bedroom country house – it all depends on your monthly budget and what you can afford.

Benefits:

  • You may be able to live in an area that you might not be able to afford if you were to buy a house
  • You have more space for your friends and family to come round
  • You don’t need to think about not disturbing the people you live with as you’ll have the property to yourself
  • You don’t need to share your space with anyone else

Cons:

  • The rent can be higher than renting out a room
  • Bills are normally an additional cost to the monthly rent
  • You may have to purchase your own furniture if you chose to go for an unfurnished property

Whichever route you go down, there are a few things that you should think about when renting. Such as how easy is it to report any maintenance and repairs and what is the response time for those problems being fixed? You might have found a fantastic property to later learn that it takes two months for the boiler to be fixed in the middle of winter.

It’s a good idea to check who the letting agency is if the landlord is using one and read their reviews and ask your friends and family if they have used them before and find out their thoughts.