Guelph, ONT.

[mattrussell]

Ok it`s not a REIN top-rated city, but I`ve always thought Guelph is a great University town. Anybody have any comments on student housing, or future prospects for this city? Go-train? I went to U of G and the school is ungergoing some major transformation.

Any comments are very appreciated.

- Matt

 

[AdamBlackmore]

Matt,

I just wrote an offer for my second student rental in Guelph. I have done a fair bit of research into area. Be careful of getting into an illegal lodging house (more then 4 with no license), it`s only a matter of time before city cracks down on them (Currently complaint based system). Anything close to downtown (Although older houses), and the Gordon/Kortright/Edinburgh triangle are good bets.

Either go for something that works with 4 students (Getting harder to find), or a two unit place (Know accessory apt rules!). Cashflow is definitly still available, and not as competitive to grab a place as Waterloo.

The usual near direct bus route/ammenities/university applies like every city. E-mail me at [email protected] if you would like more info.

 

[housingrental]

Hi Matt

Investing in Guelph student housing is not investing in Waterloo student housing.

A very bad choice.

Adam

 

[benho2006]

Adam Hoffman - I am curious as to why you think renting to students in waterloo would be different from guelph. Other that the local economics and guelph not being the top rated investment city. Can you elaborate please. Thanks. BH.

 

[housingrental]

Sure benho2006 - You`ve partly answered your own question in your own post. To add - Waterloo -

Larger student population. More diverse through three major institutions.

Students located in a small geographic area with severe restrictions on new supply.

Zoning restrictions.

Limited high density develop able land available near the universities + all lots are already built on, often with multi-units already in place = significant land cost = significant barrier to entry for material new construction / only viable at sustained high rent / room = limiting factor on future oversupply.

By-law restrictions on MDS for lodging licenses.

No *newly created - can still register grandfathered ones as far I know* new accessory apartments allowed in Waterloo.

Existing housing stock surrounding schools already student dominated - increase of supply of student housing from conversation of nearby already built structures not possible - there`s very few that can be switched over that haven`t been......

In Guelph, you`ll find the OPPOSITE situation on most of the above... You can still make money there.. but Guelph at this point = higher risk...

 

[RCC]

My son is a student at Guelph and the information we get from the school is that there is a high vacancy rate in student rentals

 

[housingrental]

Another negative for Guelph..

 

[mattrussell]

Adam,

Thanks for your comments, your points are well appreciated.

Matt




QUOTE (housingrental @ Dec 20 2009, 12:30 PM) Another negative for Guelph..

 

[housingrental]

You are welcome.

Good luck !

QUOTE (mattrussell @ Dec 23 2009, 07:04 PM) Adam,

Thanks for your comments, your points are well appreciated.

Matt

 

[TomRebstock]

When I was a Waterloo student (Mech Eng.-coop) I lived north, south, east, west of campus. All points of the compass !

As an investor I have a handful of student rental homes in Guelph I bought over 3 years. I self-manage them so I spend a fair bit of time in Guelph.

I know both Waterloo and Guelph very well, would say that both cities are have their merits.

As Waterloo is REIN`s #1 Ontario town to invest in you should consider Waterloo.
Because you should consider Waterloo does not mean you should eliminate Guelph.

Have you used the REIN scorecard system to look at these two towns?

I am now a licenced realtor so to as to be able to serve other investors.

If you would like to talk real estate, talk towns, or see properties in either community I can support you to succeed.

I have a number of tools I could share with you.

Tom Rebstock, B.A. Sc., P. Eng. , Realtor
C 1-905-484-8255
[email protected]

 

[mfrayne]

Lodging Houses & Accessory Apartments

The City of Guelph has zoning bylaws that apply to lodging houses and accessory apartments. A lodging house is defined either as a dwelling with 5 or more “lodging units” (type 1) or a townhouse complex or apartment building where one or more dwelling units are used to provide 5 or more lodging units for rental purposes (type 2). A lodging unit is described as a room used to provide living accommodation without the private use of both a kitchen and bathroom.


My question:
Are Guelph Landlords applying to the city to have their student rental properties certified as lodging units? No resale condos that I see are ever referred to as city approved lodging. I am afraid of investing in Guelph because I am not convinced that there is a level playing field for landlords and that at some time in the future my 5 bedroom condo townhouse could be turned into a 3 or 4 bedroom which in turns could cost me $50,000 in potential resale value.

Any comments?

 

[housingrental]

Is there any plans for a minimum distance separation in effect in Guelph for new lodging licenses like there is in Waterloo for SR zoinings?