Room in London for rent at £1 a month…but there’s a catch

Screenshot 2015-10-16 12.11.45

There’s a room in Stratford avaliable to rent for £1 a month. Would you take it?

Flatsharers in the capital can expect to pay £692.30 a month to rent a room, almost £100 more than renters say they can actually afford, according to property website Easy Roommate.

The data show that these people are spending an extra £1,128 a year, which could be put towards other basic cost of living, such as food and transport.

A rented room in London is £121 a month more expensive than Oxford, the second most expensive place to rent a room in Britain. It is £244.80 more expensive than Maidstone, which is 40 miles from Central London and the tenth most expensive place to rent a room in Britain.

A landlord in Stratford is bucking the trend, and offering a double room for £1 a month.

There are five bedrooms in the house, two bathrooms and even a garden. It seems too good to be true.

It could be – your services are required in return for the almost non-existent rent. The room is only avaliable for IT/business graduates who are able to help the landlord with his web/mobile development skills.

However, the arrangement could save you £7,200 a year – as rooms in that area rent for an average of £600 a month.

Easy Roommate, which is advertising the room, has urged potential renters to view this kind of arrangement with caution.

They said: “Although this kind of advert seems like a once-in-a-lifetime opportunity, we advise you to proceed with caution. Some landlords like to take advantage of desperate room seekers and expect more than you are willing to bring to the table”.

Apparently, quite a few landlords are now saying that tenants can exchange services instead of rent.

Easy Roommate said: “There is an increasing trend whereby landlords are offering a significantly reduced rent in exchange for a service they need.

“Services can range from doing the household chores or giving language lessons, to looking after the house dog.”