Student homes in Kitchener/Waterloo
- Thread starter dnaumis
- Start date
- Joined
- Oct 10, 2007
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Yes, I rent, manage, and own a significant amount of student housing in Waterloo. Generally, and assuming good property and management:
Pro`s - High to 100% occupancy, high to 100% rent collection, high rent to purchase price, less ltb action needed compared to non-student multi-units, barrier to entry.
Con`s - Higher turnover, time consuming to manage, higher cleaning/insurance/licensing/minor repair costs.
The big issue is with poor property selection or management you`ll have higher vacancies and less rent collected than non-student rentals. If done right though I`ve seen larger portfolios with 99.5+% occupancy and rent collection year after year.
What more would you like to know?
Pro`s - High to 100% occupancy, high to 100% rent collection, high rent to purchase price, less ltb action needed compared to non-student multi-units, barrier to entry.
Con`s - Higher turnover, time consuming to manage, higher cleaning/insurance/licensing/minor repair costs.
The big issue is with poor property selection or management you`ll have higher vacancies and less rent collected than non-student rentals. If done right though I`ve seen larger portfolios with 99.5+% occupancy and rent collection year after year.
What more would you like to know?
Thank you for the response,
Very good outline of pros and cons.
It looks like this may be a little bigger and complex undertaking for me right now.
Debbie
QUOTE (housingrental @ Aug 3 2008, 12:55 PM) Yes, I rent, manage, and own a significant amount of student housing in Waterloo. Generally, and assuming good property and management:
Pro`s - High to 100% occupancy, high to 100% rent collection, high rent to purchase price, less ltb action needed compared to non-student multi-units, barrier to entry.
Con`s - Higher turnover, time consuming to manage, higher cleaning/insurance/licensing/minor repair costs.
The big issue is with poor property selection or management you`ll have higher vacancies and less rent collected than non-student rentals. If done right though I`ve seen larger portfolios with 99.5+% occupancy and rent collection year after year.
What more would you like to know?
Very good outline of pros and cons.
It looks like this may be a little bigger and complex undertaking for me right now.
Debbie
QUOTE (housingrental @ Aug 3 2008, 12:55 PM) Yes, I rent, manage, and own a significant amount of student housing in Waterloo. Generally, and assuming good property and management:
Pro`s - High to 100% occupancy, high to 100% rent collection, high rent to purchase price, less ltb action needed compared to non-student multi-units, barrier to entry.
Con`s - Higher turnover, time consuming to manage, higher cleaning/insurance/licensing/minor repair costs.
The big issue is with poor property selection or management you`ll have higher vacancies and less rent collected than non-student rentals. If done right though I`ve seen larger portfolios with 99.5+% occupancy and rent collection year after year.
What more would you like to know?