More people over 50 years-old are opting for flat sharing as a viable way of living either as a live-in landlord or as a roommate, room share platform, ideal flatmate has revealed.
In 2019, ideal flatmate has seen a 74% increase in the number of over 50s using its platform when compared to 2018. This is either to find a room share applicant to fill their spare room or as an applicant themselves looking for a room to rent.
Tom Gatzen, co-founder of ideal flatmate, said: “While the older age brackets still account for a very small number of room share applicants as a whole, we’ve seen a dramatic increase in the number of people over 50 opting to search for either a housemate or a spare room for themselves.
“I think perceptions are starting to change and there has been a number of great stories around older people welcoming others into their homes, particularly younger roommates.
“Previously it carried a bit of stigma, much like living with your parents at the age of 30 use to, but as rents continue to climb and the issue of affordability grows ever larger, I think people of all ages are starting to band together and tackle the rental market in whatever way they can.
“The ability to verify people and the information and checks required has also provided an additional layer of security for elderly applicants and as more of the older population becomes silver surfers, their ability to adapt and adopt new technology has changed the way they do things from shopping to contacting family, and now even renting.
“Age is just a number and it’s one that doesn’t seem to hold any bearing what so ever when looking for that ideal flatmate and we expect that the fabric of the UK rental sector will continue to evolve as a result of this diversity and acceptance.”
Data from ideal flatmate across thousands of room share listings across the UK shows that the current average age of a room share tenant is 30 years old.
House sharing has become a popular choice for many, particularly in major UK cities, where the cost of renting is too high to tackle alone.
So far in 2019 ideal flatmate has already seen a 24% increase in the number of people opting to room share when compared to last year as a whole.
The 18-25 age category accounts for the largest percentage of all room share tenants, with 43% of those renting via ideal flatmate falling into this bracket.
This starts to decline as the age increases, with 36% of room shares consisting of people aged between 25 and 35, 13% between 35 and 45, 6% between 45 and 55 and just 2% aged 55 and over.