Is it worth renting out a flat by the room?

Renting out a flat does not have to be limited to making its space available to one person. It is also possible to rent it out by the room. This solution is most popular in university cities, where there are many students. For them, renting a room is definitely more financially advantageous than renting a whole flat. But students are not the only ones who take advantage of this kind of opportunity – so do other young people whose finances do not allow them to pay the rent for a whole flat, and people who are new to the city, for example those who have come to work and need inexpensive accommodation to begin with.

Features of a flat let by the room

To let a flat by the room successfully and profitably, the property should meet certain standards. It is best if it has 3-4 single rooms of at least 8 sq m each. In addition, the rooms must not be walk-through and should be fitted with doors that lock with a key, which will give the occupants a sense of privacy and security, especially if they did not know each other before living together. It is also worth thinking about a shared space, other than the kitchen and bathroom, where the residents can spend time together, invite guests or watch television. Moreover, internet in the flat is standard today, so if you have not yet had it installed, you need to do it as soon as possible. Prospective tenants will certainly ask about it.

Advantages and disadvantages of renting out a flat by the room

The greatest advantage of this kind of solution is, of course, profit. This is because the rent charged for rooms is higher per square metre of floor area. However, to enjoy higher rental income, you first have to put in some effort.

First of all, before we even start looking for tenants, it is worth investing in a general renovation of the flat. Students and young people are increasingly demanding these days, and the standard of their future home matters to them.

We should also be prepared for extra paperwork. Each tenant will require a separate agreement and a handover protocol. Most likely we will also settle accounts with each of them separately.

Renting out a flat by the room can also give rise to interpersonal problems, especially if the people who move into our property did not know each other before. In the course of living together, disagreements may arise over differences in lifestyle, failure to keep the place clean and so on. We must take into account that in such situations we will have to act as a mediator.

You also have to prepare for a high turnover of people in the flat. Young people often change their minds, which may also mean they stay in our property only briefly. We should also bear in mind that students most often want to rent rooms from September to June, which often means the flat will stand empty for two months.

All these issues may look discouraging, but if we manage to find responsible people, and also protect ourselves well with an agreement, then renting out a flat by the room may turn out to be more profitable than letting the whole property to one person.