The HMO Property Co · Perth and Melbourne
One house.
Up to nine incomes.
Negative gearing only works if you do. Co-living lets one property earn up to $3,500 a week in rent by leasing each room separately. Here's what it is, how it works, and how we do it for you.
Book a call with Kai 30 minutes with Kai from our team. He'll show you what co-living could earn you.*Example only. Rent varies by property, location and market.
Negative gearing is dead. Here's what's next.From Craig, our client manager
Award winner 2026
Winner, Affordable Housing. UDIA WA Awards for Excellence 2026.
Our co-living project at Jacqueline Street, Bayswater (with 101 Residential) delivered three purpose-built co-living homes: 18 private rooms with ensuites, on a site that would traditionally fit three family homes.
The walkthrough
Step inside a co-living home
Co-living (also called an HMO or rooming house) is a normal looking house, purpose-built inside for working professionals. Each room is leased by the room, so one property earns several rents instead of one: typically six in Perth and up to nine in Melbourne.
From the street
It looks like any other family home on the block. Same street, same neighbours, same kerb appeal. Most people walk past without knowing.
Through the front door
Six bedrooms in Perth (sometimes with a granny flat attached) and up to nine in Melbourne, plus shared living space. Our property management team looks after the house and the residents, so you don't have to.
Inside a room
Every room is a self-contained micro apartment, not a student share house. Bed, sofa, desk, wall TV, private ensuite and its own kitchenette with kettle, toaster, microwave and fridge freezer. A keypad lock on the door makes it the resident's own space.
The income
Every room earns its own rent. Using an example rent of $395* per room per week:
- 6 rooms (Perth)$2,370 / week
- 9 rooms (Melbourne)$3,555 / week
- Compared with one family~$800 / week
*Example only, not a quote or guarantee. Actual rent depends on the location, the property and the market. Room limits vary by state and council. Illustrative only.
Why it works
Same block of land. Two very different outcomes.
Picture two houses side by side. They look the same from the street. One is leased to a family. The other is leased by the room.
per week from one family
Often negatively geared: you top it up every week and wait on capital growth.
per week, from six rooms in Perth or up to nine in Melbourne
Designed to be cash flow positive, even after all expenses and a principal and interest loan.
Illustrative comparison. Your result will depend on the property, location, finance and market conditions.
What would this look like for you?
Book a 30-minute call with Kai and he'll run the numbers on your budget, your borrowing power and your goals.
How we do it
Clarify. Create. Cashflow.
Three simple steps. Our team handles every one, in Perth and now Melbourne.
We map your goals, borrowing capacity and strategy.
We find, build and fit out the property.
We lease and manage it. You get paid, then go again.
Good for investors. Good for housing.
Homes people can afford.
Returns that pay you.
Our residents are essential workers and working professionals who need somewhere affordable to live near work. On the night of Anglicare's 2024 Rental Affordability Snapshot, just 0.8% of rentals were affordable for essential workers.
Book your call with Kai
Kai Furlong, our client onboarding specialist, runs every first call. In 30 minutes he'll walk you through the numbers and show you what co-living could look like for you.
- See what co-living could earn on your budget
- Find out which pathway suits you: convert, build new or compound
- Get clear on finance, deposit and what it takes to get started
- Ask anything. No pressure, no obligation.
could earn you Book with Kai