Living in a shared house has its pros and cons – there is no doubt about it.
Friends at the end of the hallway, shared study breaks and meal times, and potentially, friendships for life. Moving into your first rented home is exciting! But, you want to be sure you’re clued up on what to expect before you sign any tenancy agreements – the good and the bad.
If you’re a first-time renter, we’ve put together this list of 7 things no one tells you about living in a shared house, and how to protect yourself.
1. You might be responsible for more than just your rent
Did you know what joint and several liability means? Most students and young professionals in shared houses sign a joint tenancy agreement. This basically means that if one housemate doesn’t pay their rent, the landlord can ask the rest of you to cover it. And that can take you way out of your budget.
The worst thing is that many first-time renters only find this out after signing. It’s one of the biggest financial risks of shared living.
Thankfully, services like Only My Share can protect you (and your guarantor) so you’re only ever responsible for your share of the rent.
2. You might not know who you are living with
If you’re in self-catered accommodation, they sometimes provide appliances and kitchen basics, so check Sometimes you move in with friends. Other times, you’re paired with complete strangers.
The awkward truth is that when you’re living in a shared house, your roommates’ behaviour can affect you financially. So it’s important to remember this: missed bills, damage, or contract breaches don’t just land on them; they can impact the whole house.
It’s a good idea to treat your housemates like teammates. Even if you’re not best friends, clear communication can save headaches in the future.
3. Contracts aren’t always clearly explained
Not every landlord or letting agent explains the difference between joint tenancies and individual tenancies. Some will provide you with the paperwork without making the risks clear.
As a first-time renter, we recommend you:
- Read every clause carefully.
- Ask questions if you’re unsure.
- Don’t be pressured into signing before you fully understand the terms.
Don’t let anyone rush you. Read the fine print. Ask questions. Google the terms you don’t understand. (Yes, even the boring bits.)
4. Guarantors can be liable too
Most first-time renters need a guarantor (often a parent, relative, or close family friend). What’s not always explained in a joint tenancy is that your guarantor might also be on the hook for your housemate’s unpaid rent.
This can be stressful for guarantors who only wanted to support you, not take on the risk of strangers’ rent. That’s why protections like Only My Share aren’t just for tenants; they keep guarantors safe, too.
5. Bills and cleaning can be bigger issues than you expect
It always starts with good intentions: “We’ll split everything equally.”
The reality is that someone always “forgets” to transfer money for the WiFi, or the bins mysteriously never get taken out. It’s not glamorous, but sort out a system early. Use a shared app, a rota, or even a WhatsApp group.
It might feel awkward at first, but it saves arguments later.
6. Leaving a tenancy isn’t always simple
Life changes quickly. Maybe you get a job in another city, decide to move in with a partner, or realise shared living isn’t for you.
Think you can just hand in your keys and leave early? Not so fast.
In a joint tenancy, you’re all locked in together. Unless everyone agrees to end the tenancy, or you find a replacement, you could still be liable for rent even if you’re long gone.
Before signing, ask:
- What happens if I want to leave early?
- Is there a replacement clause in the contract?
- Can I be released if I find a new tenant?
7. It’s OK to protect yourself
Shared living can be fun, social, and a great way to meet new people. But it’s perfectly fine to make sure you protect yourself from any financial risks.
Understanding your tenancy, knowing your rights, and using services like Only My Share means you can enjoy all the fun bits of shared housing without lying awake worrying about someone else’s rent. Our guarantee service ensures you’re only ever responsible for your share of the rent, not anyone else’s. That means if one of your housemates doesn’t pay, you’re protected.
Your first rented home is a big milestone. It comes with freedom, new experiences, but it’s not without its challenges.
With a little knowledge (and the right protection), you can skip the nasty surprises and actually enjoy the experience.
Find out more about Only My Share today.
