Case Study #3: UWO – Western University Rental Market 2013
Landlords have emerged from London, Ontario and from larger cities such as Toronto to invest in student rental housing at Western University. For some local Landlord’s, it’s a buy and hold strategy: hold on to the property, make sure it’s updated frequently, always rented, and one day the house will be paid off. Out of town Landlords usually get involved via their child who attends UWO, and buys a house for their friends to live in for a few years and then turns around and sells it after a few years for a profit.
Traction at UWO Western University Rental Market
The single bedroom, apartments, 3 bedroom, 4 and even 6 bedroom units have been renting very quickly and easily at Western this year. The five bedroom student rental properties at Western have seen a dip this year in renting. They are more difficult to rent, and they are not fetching the prices they were in 2008-2009. Landlords and investors should be aware of this when buying and renting properties. The reason for this has been less movement among current students living in 5 bedroom properties, the location of these properties, and since they have been rented for 3 or 4 years, these units need to be updated on the inside. These factors have led to the decline in these units renting out, and not necessarily the new development found around the University.
How Do I Make Sure My Student Rental is Always Rented?
Landlords need to continuously update, upgrade, and add services to their student rental properties that create a great property, achieves top dollar rent from prospective student tenants, and attracts good tenants to avoid such things as damage in your UWO Western student rental property. Using a rental service that specializes and student rental properties at Western University will also help you to achieve your goal.
Traction at UWO Western University Rental Market
The single bedroom, apartments, 3 bedroom, 4 and even 6 bedroom units have been renting very quickly and easily at Western this year. The five bedroom student rental properties at Western have seen a dip this year in renting. They are more difficult to rent, and they are not fetching the prices they were in 2008-2009. Landlords and investors should be aware of this when buying and renting properties. The reason for this has been less movement among current students living in 5 bedroom properties, the location of these properties, and since they have been rented for 3 or 4 years, these units need to be updated on the inside. These factors have led to the decline in these units renting out, and not necessarily the new development found around the University.
How Do I Make Sure My Student Rental is Always Rented?
Landlords need to continuously update, upgrade, and add services to their student rental properties that create a great property, achieves top dollar rent from prospective student tenants, and attracts good tenants to avoid such things as damage in your UWO Western student rental property. Using a rental service that specializes and student rental properties at Western University will also help you to achieve your goal.
