Report reveals key trends in the shared living sector

A study has unveiled critical insights into the preferences and experiences of tenants in the UK’s house in multiple occupation (HMO) and shared living sector.

The research was carried out by Coho, an HMO management platform to offer a detailed look at what drives tenant satisfaction.

The report highlights that 66% of tenants value knowing their housemates’ personalities before moving in, with 47% willing to pay a 10% rent premium for compatible cohabitants.

Given the £6.3 billion annual shared living rental market, this represents a potential £630 million in untapped revenue.

Shared living solution

The firm’s founder, Vann Vogstad, said: “I truly believe shared living is one of the best solutions we have to the housing crisis.

“Not only is it affordable, but in a time where loneliness and the breakdown of community are on the rise, shared living offers something powerful: connection.

“It’s a modern way to live with like-minded people, where community, wellbeing and fulfilment come together.”

He added: “But HMOs and shared houses still face a challenge in the form of public and council perception.

“As more local authorities turn to landlords to provide crisis HMO housing for refugees and the homeless, there’s a real risk of further stigmatising shared living.”

High speed internet

Cleanliness also emerged as a top concern, with 57% of respondents citing it as a primary reason for avoiding certain shared accommodations.

Plus, high-speed internet ranked higher than en-suite bathrooms in tenant priorities.

Safety concerns are minimal, with fewer than 10% of tenants worried about security or noise from housemates.

The study also revealed that 78% prefer living with fewer than five people, and 39% of current shared home residents have no intention of moving out.

Future of shared living

There are also pointers to the shape of the future of co-living, in the State of Shared Living 2025 report.

Based on responses from more than 6,000 individuals, the report also reveals that more than 10% of shared home occupants are aged 40 or older.

That figure is rising in cities like Southampton.

Poor property management and slow maintenance responses were significant issues, with 85% and 87% of tenants, respectively, stating these could prompt them to leave earlier.