What are your experiences of renting in London?

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Business Analyst, Adam Munghal has advertised a room in his London house for £1 per month, on the condition the tenant also works for his web app business

Posting on the website, Easy Roomate, Adam Munghal offered  a furnished “large clean double room” in Stratford, east London,  with internet access.

“Living in London is only getting more and more expensive, so I wouldn’t be surprised to see a rising trend of those type of ads published on our website over the next few years,"  the 32 years old Mughal told Evening Standard

After two weeks, more than 1,200 applicants have reportedly registered their interest.

Is this the new trend of renting in London? Tell us your experience?