How do I join my Apple TV to a different home?

I'm living in a shared house with a roommate. We each have our own Apple TV. Currently our Apple TVs (each linked to our respective Apple ID) show up in different homes in the Home app.

We want both Apple TVs to show up in the same Home. Ideally we just want one shared home between both of us.

How do I un-link my Apple TV from the current home, and then join it to my roommate's home?

When I go into "AirPlay and HomeKit" these are the only options I see:

• Room: [Select a Room]
• My Home: [Disabled]

I'm using Apple TV 4K (A1842) with tvOS 14.3.

I think you have to reset it to default and then set it up again as new.

Reset your Apple TV 4K or Apple TV HD

Go to Settings > System > Reset.

Choose a reset option:

• Reset: This option is the fastest way to return your Apple TV to factory settings. This option doesn't require an Internet connection.

• Reset and Update: This option returns your Apple TV to its factory settings and installs software updates. This option requires an Internet connection.

Keep your Apple TV plugged into power until the Reset process finishes.

Source: Apple Support: Reset or restore your Apple TV to its factory settings