Splittable Is On A Mission To Reduce Flat-sharing Awkwardness For Londoners

Timeline

Splittable, a new app and website has been launched today to help the UK’s ten million young renters split household costs, track expenses and manage their home – doing away with awkward money conversations around the kitchen table once and for all.

Due to sky-high house prices, stringent lending criteria and low or stagnant wages, almost 10 million cash-strapped young ‘Generation Renters’ are now moving into shared accommodation at record pace. Many share with virtual strangers they have met on flat-sharing sites, which can make for difficulties managing a home with different cultures and financial practices colliding. The average UK rental lease is only 18 months, and flatshares are usually shorter – usually because of fall-outs over simple things like shopping or bills.

The site and app – available on Android and iOS – works by providing housemates with a simple and hassle free visual representation of household expenditures – from rent and utilities, to groceries and nights out. Housesharers can invite their cohabitors via email, a Facebook message or a WhatsApp message. The ‘All Squared Meter’ handily shows everything that’s owed, at a glance.

Nick KatzSplittable was founded by property technology entrepreneur Nick Katz, who said: “As a flatmate in a London houseshare of six myself, I’m well aware of the struggles and inequalities that can come with sharing costs and duties at home. It usually ends up being left to one person to buy household sundries, pay bills, and generally manage the show at home. Our mission at Splittable is simple: we want to improve the lives of people in shared accommodation, enabling them to stress less and live more.

Splittable also helps charitable housing causes teaming up with Generation Rent on a number of initiatives, the Raise the Roof Campaign and has committed 1% of profits to go towards charitable housing causes. The app has already been successfully trialled by over 1,000 young renters in London, and currently rates highly on the App store. The site was part of the Pi Labs consortium of promising UK property technology start-ups, and originated in the Open Data Institute, founded by Sir Tim-Berners Lee.

You can download the free app for iPhone here and Android here.

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