Share-houses get a professional make-over as the latest form of build-to-rent accommodation to hit the market

A more sophisticated and professional version of share houses has landed in Perth’s ever-evolving property market, as the latest form of built-to-rent accommodation launches in Perth. The new form of BTR is called HMO — which stands for Housing in Multiple Occupation developments — and it gives the traditional share-house market a professional makeover for the investor market. With the first three houses launching as the Bayswater Co-Living Hub on Tuesday, each house has six bedrooms and six bathrooms. Like all BTR, the dwellings are built specifically to operate as rentals, giving tenants the potential for a life-long lease. But unlike traditional BTR apartments, which have existed for years in areas such as Subiaco, tenants do not live in their own private high-rise dwellings, but in single house. “It’s a more sophisticated, professional version of a shared house, designed for working professionals and older renters rather than students,” a spokeswoman for Co-living Collective said. “Each tenant gets their own private space with an ensuite, and the properties are professionally managed to ensure quality living conditions.” The spokeswoman said co-living share houses are already hugely successful in the UK, US and Europe, where rising property prices have made traditional rentals unaffordable for many. “Cities like London, New York and Berlin have embraced co-living as a sustainable, community-driven housing solution,” she said. Similar to tenants in co-living CBD high-rise known as The Switch, each person has their own bedroom and bathroom and they share amenities such as kitchens, dining and living rooms. The key difference is that HMO looks and feels like a regular house, complete with carparking and gardens. And the dwellings can be owned by smaller private investors, rather than the institutional investors or major developers behind the current and planned BTR projects in Perth. The new fully furnished properties lease for about $250 to $350 per week, including utilities and internet. Tenants go through an application and vetting process to ensure compatibility, with the goal being to create a harmonious household. The properties are owned by private investors who partner with The HMO Property Co.