HMO tenants might pay more if they like their house-sharers 

A survey by COHO reveals that half of HMO tenants would pay up to 10% more in rent to ensure they were socially compatible with their housemates. While affordability is the primary benefit of shared living for 57.5% of respondents, social aspects also play a significant role, with 48.6% valuing the sociable lifestyle and 43% highlighting its benefits for forming connections in new cities.

Notably, 65.9% of tenants consider knowing their housemates’ personalities before moving in highly important, and nearly 40% would feel more confident about their decision if they knew they were compatible.

COHO emphasizes that shared living is evolving beyond affordability into a lifestyle choice, presenting opportunities for landlords to cater to tenant expectations by fostering better social compatibility in HMOs.