To share or not to share that is the Question?

[Joe Daque]

Two seperate couples, I tell you what, that aint a bad idea.

The only slight issue is whether or not the two (groups of seperate sharers) will get on.

I did advertise my two bed (in the local rag) both as an overall house and as individual rooms, the response was about equal. I knew that I'd get more wedge if I let each room individually, but was unsure about the legal side of things, and it would also be breaking my mortgage conditions (although the general opinion on that is not to worry). What I would have to check out is whether the house insurance would cover this?

Mathew, have you had problems with people not getting on?

What's the best mix / type of people - same sex, same age (comments from everyone apprieciated)?

Or perhaps older and younger (father, mother figure - keeping the younger one in check)?

I suppose if differs abit relating to how big the house is. Logically, a smaller house would mean extra care on getting a match, as opposed to a five bed property?

Perhaps the main draw back with individual rooms is that people are more likely to come and go (and possibly do a bunk, as their individual security deposit would be smaller, hence a greater risk to the welfare of the property.

Are any of these points valid? Comments much apprieciated

DOES ANYONE OUT THERE in the past/current, let individual rooms on a two bed, if so, what was their expereince(s) like?

[Melboy]

Two seperate couples in a 2 bedder Joe?

Recipe for a disaster I reckon.

.......and who are you most likely to attract? the very people who are giving you grief at the moment.

The average 2 Bedder is just about adequate for a couple and say 1 child and 2 at a push.

Personally I would never consider this multi-share as an option. Too much hassle and possible problems in the future.

I have always managed to let my 2 Bedders out with no problems whatsoever, even to just 1 person as I am at the moment.

If you go to www.netlawman.co.uk have a read of the advice they give on multi-sharing.........you will have to navigate yourself around the site until you find the right part.

[Matthew]

Of course it does depend on how big the 2 bed property is, but if there are two double rooms then why not. Alot of people who own have two adults and two kids, so why not.

Forf me it's lower financial risk and higher monthly income with little extra work for it, which I'm happy with. I currently in the process of buying a house and converting it to a 6 bed property, which is close to a Uni, I don't forsee having problems getting tenants and making a good return.

Poeple aren't as fussy as you would think, and I wouldn't get too worried about the mix, I haven't had many problems with it.

I would never do this, but my dad owns a 2 bed maisonette which is tiny with no hallway, so nowhere to get away. A property next door which is the same is let to a couple and two singles, with no communal dining space sharing a 5ft bt 5 kitchen and a smaller bathroom.

The guy is probably making a mint, but I wouldn't be able to sleep at night doing that. My point is people are still paying for it.

1 bed flats where I live go for around £600 to £650 a month, add approx £200 bills per month = £800 to £850.

My rooms are rented for £350 all inclusive, so they are saving £450 to £500 a month. So you can see why so many people are happy to share.

[Melboy]

So I am guessing you are familiar with the new rulings and regulations of HMO's then Matthew? and also registering with the local Council for assessment of your converted property?

[Matthew]

Of course, being a slow reader the HMO License gumpth was a real bore and needless to say a pain in the back-side.

On another matter, the higher returns you get mean you can afford to look after the property better and the tenants, for example I have ordered 6 bottles of champagne, chocolates and mince pies for one household!

I also always refurbish the properties so they are not living in squalor like people like to think with HMO's. I think the one beds tend to be the neglected properties, with the landlords being very handsoff in my experience. Also properties maintained by letting agents are often not looked after, this is why I would always prefer to manage myself.