Hmlet, Australia’s largest co-living company, has revealed the best and worst renting experiences and trends for 2020.
From dealing with unresponsive landlords and inflexible leases to sharing with flatmates who have nothing in common, a new survey commissioned by Hmlet reveals more than half of renters aged 18-34 are constantly looking at properties to rent, emphasising the desire for better rental opportunities in the market.
76 per cent of Australians also revealed that they want to move properties in the next 18 months while 63 per cent plan on moving within the year, demonstrating that Australian renters are actively looking to upgrade their living situation.
“Our survey shows that the vast majority of Australian renters want to improve their standard of living. At Hmlet, we are setting a new standard for how people live by providing a flexible and hassle-free living experience, with custom-designed homes and an engaged community, providing people with a far superior renting experience compared to what has traditionally been offered” said Chrystan Paul, Director of Investment at Hmlet in Australia.
With nine co-living properties in Sydney and more opening soon, Hmlet meets the needs of Australians and expats by providing fully-furnished apartments, utilities, unlimited Wi-Fi, weekly cleaning, maintenance and access to community events.
Size Matters
Nine out of ten 18-34 year olds view the Sydney market as unaffordable and lacking variety and six out of ten respondents would consider moving to a larger property if they had flatmates to move with. This showcases the huge barrier of rental apartments and houses where Sydneysiders are unable to afford the entire property or relying on flatmates to make it happen. Living with Hmlet helps to tackle this issue, as members are able to move into individual bedrooms, rather than take a lease on an entire property, with a range of room options to choose from – from studios to 4-bedroom shared apartments.
Fixing Problems
Half of the 35-44 year olds expressed problems with their landlord, property manager or rental group, with most common issues being landlords not willing to fix housing issues from maintenance, fixtures, fittings or aircon. Hmlet minimizes the hassle through having a dedicated team on call to help with any problems, affirming the hands-on service provided.
Amenities Animosity
Around 60 per cent of all respondents living with flatmates mentioned that they forget to purchase household items such as laundry detergent, when it is their ‘turn’ to buy the necessary daily items. Hmlet recognises how such items can be forgotten which is why they provide house amenities and on-site laundry service.
“We are seeing a real appetite among renters for a better rental product, the ability to live with the right flatmates and a desire to minimise negative experiences with landlords. We are learning that people want a seamless living experience that reflects the lifestyle preferences of the modern-day renter. Beyond flexible lease options and fully furnished custom-designed spaces, people want a range of offerings such as cleaning, laundry services, and the ability to live in prime locations with easy access to public transport” said Paul.
Flatmate Pairings
53 per cent of 18-24 year olds have revealed they find it hard to find good flatmates in their city. Hmlet fosters a strong sense of community by organising events for members and creating a network across all Hmlet properties, resulting in meaningful relationships and creating a friendly environment within apartments and in the wider community. As a result, 89 per cent of Hmlet community members say they are compatible with their flatmates and 82 per cent say they regularly engage with their flatmates.
“People want to be part of a community and our properties are designed with community in mind, featuring common areas like lounges and rooftops, providing members with an additional touch point to interact and connect. At the heart of Hmlet is our community and we’re happy to see that 90 per cent of our members would recommend Hmlet to friends and colleagues” said Paul.
Since expanding to Australia in early 2019, Hmlet has quickly established itself as the co-living leader in the Australian market, with nine properties in Sydney and plans to expand to Melbourne – further creating a network of members and a growing vibrant community. Co-living is set to continue to grow immensely in 2020.
Hmlet commissioned the Pollfish survey interviewing renters in Sydney, Melbourne and Brisbane aged 18-45 to understand the desire for renting and co-living.
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