More landlords will be looking to rent out their property per room this year to take advantage of higher yields.

According to Matt Hutchinson, director at SpareRoom, said professional landlords who run their portfolio as a business will find renting per room very attractive, despite the extra work needed to determine rates.

Those looking to make this change should also consider how it will affect their landlord insurance.

“As more and more people need to rent, more and more people need to share because they can’t afford to live on their own.

“If you looked at flatsharers ten years ago then the bulk of them were in their early to mid-20s, but now there are people in their early 30s,” he explained.

Mr Hutchinson’s comments come after easyroommate.co.uk reported the number of tenants competing for each rental room on the market stands at 3.4, a reduction from the 4.1 recorded in June.

A fall was also recorded in the number of people registering to find a room since the summer.