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The best cities to rent out property on a room by room basis unveiled

A number of buy-to-let landlords prefer to rent out property on a room by room basis instead of renting the whole property to one person or a family.

Some landlords prefer this option as it sometimes offers an opportunity to bank higher incomes per month, while tenants get to reduce their monthly rent by sharing it with others.

But what cities in the UK are ultimately best to rent out property on a room by room basis?

New research by Glide has revealed the top ten share hotspots based on house share opportunities, the cost of rent, job opportunities, amenities and affordability.

The study, which looked to identify the best house share hotspots across the country for students and young professionals, found that Bristol is the number one city in the UK for house sharers, based on the criteria.

Bristol was ranked the best location, with 229 advertised jobs per 10,000 people and 945 house shares available

Nottingham’s consistency across the rankings meant the city came in second - with its job opportunities, broadband speeds and university rankings all scoring in the top ten, it was only let down by relatively high rental costs.

Birmingham made up the top three locations, with its comparably low rents helping it to score well, but was let down by having only 145 job opportunities per 10,000 people currently advertised.

The top ten house share hotspots are:

1.       Bristol

2.       Nottingham

3.       Birmingham

4.       Manchester

5.       Liverpool

6.       Derby

7.       Southampton

8.       Brighton and Hove

9.       Leicester

10.     Portsmouth

London was the best location for variety of house share opportunities, with over 19,000 rooms available, however with the average monthly rent of £3,278 per calendar month (pcm) is six times higher than Bradford, which is the most affordable city to live in at an average of £499pcm.

London, Edinburgh, Manchester were the top three cities for university rankings, with the cities all boasting institutions in the top ten of the UK University Rankings 2019. #

When looking at available job opportunities, York, Coventry and Derby were the top three ranked cities, with 470, 408 and 382 jobs available per 10,000 people.

James Villarreal, director at Glide said: “With so many students and young professionals choosing to house share, we wanted to find the best cities across the UK to suit their needs.

“When looking for a new house share, there are some important considerations to think about before signing, including location compared to your university campus or workplace, transport links and monthly bills.”

Poll: Have you ever rented out property on a room by room basis?

PLACE YOUR VOTE BELOW

  • Paul Barrett

    There will be many LL letting in breach of their mortgage conditions.
    Most BTL lenders specify that a single AST must be used.
    So that means 4 tenants in a 4 bed house to avoid HMO Licensing can't exactly charge more than for a family let.
    Plus letting on an AST per room means the LL pays the Council tax and is responsible for managing the common areas etc.
    For mortgaged LL rarely is letting by room allowed.

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