UK Renters Say “Yes Please!” To Better Quality HMOs (Even if it Costs More)

COHO, the HMO management platform, dropped some juicy insight: nearly half of shared-living tenants would happily pay up to 10% more rent — if it guaranteed they’d get along with their housemates. That’s right. Good vibes = premium pricing.

Why Do People Choose Shared Living Anyway?
Sure, it’s not always glamorous sharing a fridge with someone who thinks expired hummus is a condiment, but it is affordable. And in today’s rental market, affordability is gold.

COHO’s recent survey found that 57.5% of tenants said saving money was the best part of HMO life. No shocker there — with UK average rents hitting £1,338/month (up 8.1% in just one year), shared living is the financial lifeboat many renters need.

But It's Not Just About the Rent
Affordability might be the headline act, but shared living is also a social scene.

• 48.6% said the sociable lifestyle was a major perk

• 43% said it’s perfect for people new to town looking to make connections

So it’s not all about rent — sometimes, it’s about having someone to binge Netflix with or borrow milk from (and actually return it).

Would You Pay More for Compatible Housemates?
Turns out, many would.

• 47.2% said they’d pay up to 10% extra to live with housemates they vibe with

• 26.5% still value compatibility but wouldn’t break the bank for it

Meanwhile, 66% said knowing what their potential housemates were like before moving in was very important — and 40% gave that top priority status.

Basically, people would rather not play personality roulette with their living space.

What COHO’s CEO Had to Say
Vann Vogstad, COHO’s founder, nailed it:

“Shared living isn’t just about affordability anymore. It’s a lifestyle choice. Renters today want to live with people they like, and that’s an opportunity for landlords.”

Translation? If you’re a landlord who helps tenants figure out if their future housemates are into jazz, CrossFit, or midnight karaoke — you could:

• Boost tenant satisfaction

• Reduce turnover

• AND charge more rent. Win-win-win.

What’s Next?
Shared living is evolving — no longer just a cheap housing solution, but a community-based lifestyle. Platforms like COHO are leading the charge, helping renters find homes where they fit in, not just sleep in.