Melbourne, June 11 : A New Zealand-based company has brought a novel online service concept that might interest people looking for a suitable flatmate to share a rented house with.

The online service called ‘Speed Renting’ offers a fast and efficient way to find a place to live, to find roommates, and to find tenants for properties.

All a person needs to do is to pay a membership fee, which would give him a pass to an evening at a local pub to meet prospective flatmates, reports news. com. au.

The Web site report suggests that people who wish to share a house to cope with rising rents often find it difficult to find right partners.

The report further states that meeting each other in a social setting might be more helpful to people in finding suitable flatmates because it affords them a chance to hold negotiations on living space, dishes, the TV, bathroom rosters, etc.

Some people are opting out of the rental market altogether, preferring to take shelter in the family home, according to the report.

About 58 per cent of Australian men, and 47 per cent of women aged 20-24 still reside with their parents, according to recent stats data from IBISWorld.

People often cite huge HECS debts or high living costs as the reason for not choosing to live ina rented apartment. (ANI)