An unusual start-up business aimed at tenants who are over forty years old is seeking landlords with multi-occupancy properties.
CosyQuarters.co.uk has been established by 57-year-old Maggie Byrne to help older tenants find similar people to house share with.
She tells LandlordZONE that the biggest challenged faced by those over 40 who are looking to rent – often for the first time – following a divorce or other life changing event is that most house shares are aimed at 20- and 30-somethings, and that studio flats are both expensive and unstimulating.
“It all started when my son left home and I wanted to rent his room out to someone my age but really struggled to find anyone,” she says.
Byrne began researching the market and discovered that many landlords are wary of mixing age groups within house share properties.
“Those over 40 struggle to find co-living properties to rent or people of the same age to rent with and that was what prompted me to start my business to help people with shared interests and values,” she says.
“It’s essentially a matching service for these people so that they can have a choice about who they live with and how they live their life.”
Byrne attended the Start-up School for Seniors to get her idea off the ground, an organisation that offers to help older entrepreneurs prepare and launch a business in under eight weeks.
She also says that, because larger groups of people renting a property will be considered an HMO household, she’s also exploring how they could club together to buy properties together instead.
Read more about HMO licensing.
LandlordZONE readers can get a free place on a Start-up School for Seniors using code ‘londonspring2021’.