For many years, the traditional dream was for people to grow up, buy their first home and start a family. This tradition has changed dramatically in the last few years and research shows that today’s major milestones and expectations are extremely different to those experienced by the last few generations, largely due to the effects of social and financial changes.
More and more Londoners are celebrating milestones such as marriage and the birth of a child while living in rental properties. Weroom is an international website dedicated to flatsharing, and according to recent research, 27% of renters fully expect to become parents whilst living in rented accommodation. 19% have their first child in a rented property and 8% are living with children in their house or flatshare with half of the children aged between 0 and 3 years old.
Where couples once followed the conventional route of marrying and then moving into a newly purchased home to raise a family, figures show that 33% of renters in the capital now save up for the next steps in their lifeplan. This has resulted in many couples flatsharing in attempt to build up an adequate nest egg.
Flatsharing has become an increasingly popular option for London renters of all ages. Along with younger couples just starting out, flatsharing has also become a viable option for London renters entering retirement and their later years which was almost unheard of a decade ago.
With more residents of the city turning to flatsharing as both a short and long term property solution landlords and investors are now placed in a potentially lucrative position. Those in possession of HMO properties and large houses with multiple bedrooms can secure attractive rental yields by renting available rooms to individual tenants.
As a leading lettings agent in Southwark, we can help you secure both suitable tenants and the maximum rent possible for your multiple occupancy properties and our property management services provide you with comprehensive and high calibre support. Our wide range of clients includes portfolio holders, first time buy to let landlords and experienced developers and investors. If you are considering renting out your property to multiple tenants or changing your existing property into an HMO, we can help you work towards long term financial solutions.