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Flatting is a slang term used to describe a living arrangement whereby a house or apartment - a "flat" is let out to a group of people. The people who rent the flat are referred to as "flatmates".

Flatting is the dominant living arrangement for university students and young people who no longer wish to live at home. Some people prefer to flat with friends from high school or work, others prefer to flat with acquaintances and others will quite willingly go in with "randoms" - people they've never met before.

Flatmates will sometimes pay more or less money depending on the quality of their room - the better the room the higher the price. In some cases, a flat will have a "gimp room" which is smaller/damper/grosser than the other rooms of the house and will be let out at a reduced rate due to its inadequacies.
"Im off flatting with a few of me mates"
by Lord Lethris March 27, 2007
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