Since the pandemic, homeowners across the country have increasingly relied on lodgers to help counteract escalating living costs and housing pressures. This trend has led to the emergence of a new term: “friendlord,” which describes a friend who takes on the role of a landlord. These stories have been echoed by so many people who have shared their homes with friendlords in the past five to ten years. This uniquely affects their friendships in several ways.
Escalating cost of living has driven many homeowners to welcome lodgers to share the financial burden. With escalating rents and mortgage interest rates, household budgets are more pinched than ever. Consequently, countless people are now turning to supplementary income by leasing out excess space. This change is a big win for the financial wellbeing of homeowners. It provides important benefits to renters, giving them lower cost living arrangements during an increasingly challenging housing crisis.
As the idea of housing with a friendlord spread, it completely changed the state of friendship for many. Those who have lived through this experimental arrangement describe a range of impacts on their relationships. Most people agree that living with a friendlord makes your relationship even better. It builds that layer of emotional friendship by engendering those collaborative experiences and accountability. They value the intimacy and deep understanding that can grow when buddies go through the growing pains of living together.
Many have said the setup can put a lot of pressure on friendships. Household chore divides, rent payments, or personal space can create conflicts that can threaten the friendship between ex-besties. The transition from friend to landlord drastically alters what were once uncomplicated relationships. Now that financial matters overlap so much with personal interactions, it makes everything more complicated.
The trend is only continuing, underscoring the need for strong, clear communications. HomeShare hosts and lodgers need to establish clear expectations with one another from day one. Establishing boundaries and knowing each other’s roles can minimize the risk of awkwardness altogether while protecting what is special about their friendships.