For those those are still unaware of what Flatshares and Houseshares entail, to put it simply, it is when you share accommodation with another person – this could be someone such as a family member or friend or even a complete stranger, which isn’t too uncommon, some even “Buddy Up” which is where people find others looking to share somewhere to live and together search for available properties to rent.

The benefits of sharing accommodation are primarily the financial savings that are made.  Renting or buying a house or flat means that one person has to bare the brunt of all costs, however sharing with other people means that any incurred costs is split, generally equally, amongst all the tenants.

Typically there are two types of landlords with house and flat shares,

• Those that have rooms to rent in their homes living with a lodger, and these are live in landlords
• Those that let or rent a room in properties that they own, but do not live in and these are live out landlords

The second of the two is more common within the UK.

Finding flat shares in London, Manchester and the larger cities in the UK are traditionally more common as there is a greater density of people searching for accommodation but with higher costs of living, the most cost effective manner to rent is through sharing accommodation.

If you were to share a flat with one other tenant it would halve your expenses each month and having up to six would mean that you only pay one sixth of the bills.  This is why many students share a house when at university, as it drives down costs and is a cheaper accommodation.

Other benefits of renting a room in a house or flat include, the opportunity to live in a nicer property or location as costs are lower, or some people want to live in shared accommodation as they are more sociable and it is a great way to meet new people and make friends.