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Student Accomodation, Homes For Rent, Rental Home Apartments, Rental Homes for Western University (UWO) and Fanshawe College Students in London, Ontario

Landlords: How to Market Your (Student) Rental Property to Find Great Tenants 

6/2/2014

 
Landlords need to stop putting a “for rent” right on their property.

Gone are the days of families driving by on a weekend looking for a “for rent” sign or students walking on their way to school and looking at a property and wondering if they can come through for a showing. Signs usually erode over time, get knocked over, vandalized, fall apart, and this reflects poorly on your property. Although some Landlords like to take on the responsibility of renting out their house, they need to go about it the right away. Here are some tips on how to market you rental property to find a qualified set of tenants:

1.       Pictures

Pictures are literally worth a thousand words. If you are just taking pictures from your old flip phone and posting them on the internet, then you have major problems. Landlords need to take high definition, quality photographs of each room from multiple angles and lighting. This also includes the exterior and backyard of the property. We usually take 100 photos of the property and only post are best 10 on the website or classified ad sights including deleting 90% of photos and editing the photos to make the house look its best. Pictures are your first impression of the property. If you cannot handle this as an owner, then you need to hire a professional photographer who can accomplish this task for you.

2.       Video

Videos follow in the same footsteps as pictures. Several short clips of the main areas (kitchen, bathrooms, etc.) need to be stitched together, along with the great photographs, to create a video that can be hosted on YouTube and embedded on all the social media and classified ad websites to give more information to a prospective tenant.

3.       Description

Most of the time Landlords post very short ads on classified websites. They usually put up a few low quality photos and have a description that says “beautiful family home renovated call John between 5-8 at 555-555-5555 for a showing.” This is not enough. A heartfelt description of the kitchen, bathrooms, common areas, bedrooms, exterior, parking, appliances and upgrades need to all is laid out in plain English when advertising. The description will limit the “noise” or those perspective tenants who are just kicking tires on your property.

4.       Social Media

Social media websites, such as Facebook, Twitter, Instagram, Google+, LinkedIn, etc. need to be harnessed to successfully engage with prospective tenants. Your social media needs to be streamlined with services such as Hoot Suite, to make your social presence on all platforms efficient. Social media will provide your potential customers with another method of contacting you, as well as providing your ads or website with links back to your website which helps out with search engine optimization.

5.       Be Responsive

You can have the best photos, videos, descriptions, and social media presence in the world. If you are not responsive with your prospective tenants, you will never rent out your property. Setting up a specific time frame for tenants to get back to you is a definitely a bad move. Whether it’s an email, text message, phone call, voice mail, or a message on a social media platform, they should all be responded to within 6 hours, or 12 hours if it was sent overnight.

There it is! Renting out your property is not rocket science. If you are not able to successfully complete these five steps, then you need to re-evaluate your priorities and hire a company who is able to accomplish this task. If you are looking for a rental agent in London Ontario, then you have come to the right place.

Average Student Rental Fanshawe College House For Rent Accommodation in London On – Prices!

2/2/2014

 
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Above is an image of the average prices of homes for rent around Fanshawe College student accommodation housing bubble in London, Ontario. I will provide a little bit of insight in regards to these numbers and begin to justify them. First, the Fanshawe College Off Campus Housing service does not provide average rental prices for different types of accommodation, so these numbers were developed based off our experience and research of the local student rental market at Fanshawe College.

1 or 2 Bedroom Apartments – As you can tell, it costs more per person to live with less people. For a 1 bedroom apartment by yourself it’s $700 + utilities, for a 1 bedroom in a 6 bedroom house could be as low as $420 all in. The apartments across the street from Fanshawe College are usually full and not extremely popular with Fanshawe Students. Fanshawe College students are usually looking for a basement in a house or an apartment closer to Oxford/Richmond area. The drawbacks of an apartment are that they are expensive student accommodation, you need to pay your own utilities, and they are further away than single family residential homes

3 or 4 Bedroom Houses – It is difficult to find a 3 bedroom house at Fanshawe College. Usually a 3 bedroom houses is the upper floor of a single family residential house. Four bedroom homes are usually townhouses on Second or Third Street in London, ON which target Fanshawe College students. The 4 bedroom student accommodation at Fanshawe College provide really good value: short walk to school, all inclusive, usually 2 full bathrooms, and living only with 3 others for a great price. The three bedroom houses do cost a little bit more and there be another group/individual sharing the house.

5 or 6 Bedroom Houses – Five bedroom student rental accommodation homes for rent are the most popular with the Fanshawe College students in London, ON. The houses on Fleming, Prosperity, Farnsborough, Thurman, First Street, Mardell, Hyman, Mark, etc. are all popular student home for rent locations. The 5 bedroom houses at Fanshawe are so popular because: students enjoy living in larger groups, the houses are usually 2 blocks from campus, they come all inclusive, usually have 2-2.5 full bathrooms, and all of this for a decent price. The price and location cannot be beat on the five bedroom Fanshawe College student homes for rent. The 6 bedroom houses are a little more rare to find, usually have  1 or 2 rooms that are significantly smaller than the others, and sometimes it is really difficult living in a smaller homes with six Fanshawe College students.

As you can see, student accommodation and homes for rent for Fanshawe College students is difficult to organize because it is so fragmented. There are homes for rent, apartments for rent in London, and student accommodation that all have different Landlords who offer different properties, prices, services, leases, etc. 


What Western University and Fanshawe College Students Need To Know When Renting A Student House

12/30/2013

 
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Finding a student rental property around a college or university campus can be difficult. There is not one platform (i.e. Western Off Campus Housing) that helps you with all of your needs. Since a lot of Fanshawe and Western students are going to be back in London, Ontario in the next week and aggressively looking at prospective student rental properties, here is a list of things you need to know about when searching for a student rental:



1.       Start Looking at Student Houses Early

This is one of the biggest points on this list. Easily put, all houses are up for rent in December/January prior to May 1/Sep 1 of the upcoming rental year. There are a limited number of nice houses, and the groups that look at student housing before others are going to find the best quality properties and the best landlords. It’s as simple as that.

2.       Have Your Deposits Ready

Many students look at several houses in the same day, and find one they really like, but a few of their friends don’t have the last months rent to pay for the deposit. When showing a house to a group of prospective tenants, all of the tenants who want to take on the house need to have the full amount of the deposit. For example, if you are 5 people paying $500/bedroom in a house, the rental agent needs $2500 from the entire group to sign you up. If you wait a couple days to organize your friends and the deposits, the rental agent may have found a more prepared group to rent the house.

3.       Understand Who You Are Looking At Houses With

A lot of the time student rental groups acquire about properties, and say “we want to see 5 bedroom and 6 bedroom houses at Western or Fanshawe.” This is a little bit frustrating because I know the group is not very serious in renting and instead kicking tires on a lot of houses. The best advice here is to narrow down who you are living with and going to look at houses with the intent on signing on to a house that fits your needs.

4.       Negotiate The Price of Rent And Other Amenities

The price of rent is never set in stone. If you look at a house and think the price of rent is a little too high, look at similar houses for rent on the same street or area and find out if the price is actually a too high, or if it is a fair rental price. If it is very early in the rental season, and you have done some research and are confident you can negotiate the price of rent per month (or other things like access to a garage or internet access) you will not lose anything by simply asking the Landlord or rental agent.

5.       Ask If Utilities Are Included

Students are usually looking for at least all of the utilities included. At Western University and Fanshawe College, utilities all inclusive usually means water, electricity, and hot water rental. The owner is also on the hook for the mortgage, insurance, and property taxes. Utilities usually do not include cable and internet, which are two amenities that almost all students need. Students need to figure out is they can have the owner include cable/internet, or figure out how much it would cost per person, per month to have pay for these amenities out of pocket each month.

6.       Ask Information About The Landlord

If the Landlord is not showing you the house that’s available for rent, it’s always a good idea to ask questions about them. Questions concerning such things as how many rental properties the person owns, does the owner live in the same city as the rental property, and what are their plans (if any) for the rental property in question for the next year. These are all good questions to ask to feel out the Landlord and understand the relationship that you may have with this individual.

7.       Look At Several Houses

Prospective tenants need to look at several houses and find the right fit for themselves and their group. Usually a group of tenants will search online for houses, find 5-10 that may be the right fit and go and check them all out in a 1 or 2 day span and settle on a house. It is not wise to only check out 1 or 2 houses, and settles on one, with half the group seeing the house and being expected to put a deposit down. Looking at several houses allows prospective tenants to understand what is available, how much a house is worth, and finding the best fit for yourself and your group.

If you have any questions or want to check out properties that are for rent around Western University or Fanshawe College, send me an email at chris@corerentals.ca.



Why Is Western University Always Building More Student Housing? How Will I Get My Student House Rented In London?

12/21/2013

 
Western University (and by extension Brescia, King’s and Huron) have and will in the future keep building new buildings and renovating older buildings. This will not change. There are two types of logic here from Landlords:



1.       I don’t like Western building more student housing because it will be harder for me to rent out

2.       I live Western building more because they will bring more students to the city, and by extension I will rent my house out

If you fall in logic #1 you will have a hard time, because Western is not going anywhere. The reason why Landlords in London, Ontario rent to students around the campus is because of Western and its reputation.

 Here is a little update on Western’s plans for building and renovating their students housing:

-          In September 2013, Ontario Hall residence added 600 more beds. September 2014 400 more beds will be added. This is 1000 beds total.

-          In September 2013, Brescia College added 300 beds.

-          Total beds added as of September 2014: 1300

-          Delaware Hall will be closed from September 2014 to September 2015 for upgrades, which provides 450 beds

-          First year enrollment at Western university has increased from 4350 to 4900 in the last few years.

-          This does not include the focus on international students, where Western does not provide any statistics.

-          Total Extra Beds Needed as of September 2014: 1000 (and this is not including official statistics on the push for international students.

So as you can see here, Western (and myself) suggest that there will not be any ripple effects into the local market. Although there are private buildings going up, Western is the recruiting machine that brings the students to the city and keeps them here for a few years. For this, all Landlords should be grateful. If Landlords subscribe to the logic of Western is always building to suck up the entire student rental market, I don’t believe that and the statistics show this. Western is building for its needs and after first year Landlords should be able to find a group of tenants and hold onto them for a few years.

Here are a few quick statistics from Western Off Campus Housing:

2013 AVERAGE RENTAL PRICES

Average rental prices, as of May 2013, based on the Off-Campus Housing listings:

Bachelor Apartment $550 (inclusive)

One-bedroom Apartment $699 + utilities

Two-bedroom Apartment $830 + utilities

Three-bedroom Apartment $1284 + utilities

Room $434 inclusive

Share House/Apt. $443/489 + utilities

A lot of these numbers are derived from Western’s Off Campus Housing Website prices which are not exactly accurate because some of the houses don’t rent, and some of the houses rent for a negotiated price. However, I do believe that these numbers are roughly what Landlord’s should be looking for in regards to rent for this year depending on their property, bedrooms, condition, location, etc.

How To Avoid the “Headache” That Comes Along With Students In Your Rental Property

12/10/2013

 
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The reason why many Fanshawe College Landlords and Western University Landlords burn out and get out of the industry is because of what is known as the “headache.” It is not very difficult for owners to maintain the property, to upgrade their property when needed, and maintain the exterior of the home.  Core Property Management and Rentals deals with the “headache” for our property management clients in London, Ontario. If you are new to this business, or you want to avoid “the headache” from your student rental tenants, than you must consider the following:

1.       Be Upfront With Your Student Tenants at Fanshawe and Western

If you are from out of town, let them know that. That way they will not expect you within 10 minutes if there is no hot water running. When sitting the tenants down to sign the lease, go through each line out loud and give examples of you operate. For example, if all the light bulbs work and the lease states if any bulbs go out they have to replace them, then they call you for more bulbs you need to remind them of this conversation. Being upfront and transparent goes a long way

2.       Try To Have You Student Tenants Pay Their Own Utilities

If the student rental tenants are paying their own utilities, you have three less things to worry about: London Hydro bill, Union Gas bill, and probably a hot water rental. With the tenants paying the utilities, they will be much more responsible with the bills and with your property in general taking care of it because they are obligated to care more than the “all you can eat buffet” which is renting all inclusive.

3.       Sign Joint Leases With Groups of Tenants

Signing groups of tenants to rent your entire property is the best way to go about renting your property because you will get the London, ON Landlord License, you will sign on a group of friends who know each other, and the tenants will be jointly liable to pay the full amount of rent. When tenants are jointly liable and obligated to pay the rent, there is a much greater chance of none of your student rental cheques bouncing.

4.       Buy a Townhouse to Rent

When purchasing a student rental property, some of the “headache” comes from cutting the grass, cutting branches, raking leaves, cleaning snow, changing windows/doors, replacing the roof, etc. which can all be taken care of if you pay a monthly condo fee and buy a townhouse to rent to students to Fanshawe and Western University students.

5.       Hire a Property Management Company That Has Experience in Managing Western University and Fanshawe College Properties

To make most of your headaches going away, sometimes the only way is to outsource it to a local, London Ontario based company that has a rich history in providing Landlords when a great service. Some Landlords of student rental properties don’t appreciate text messages at 9 PM on a Sunday evening asking “what is the postal code of the house?” from their tenants. The little things definitely add up, and if you haven’t utilized a combination of the above recommendations to minimize your headaches, you are better off hiring a company to manage and rent your property to local Western and Fanshawe students.



LUXE LIKE STUDENT RENTAL PROPERTIES IN LONDON, ONTARIO HAVE SOME EXCLUSIVE COMPETITION AT WESTERN UNIVERSTY: BUT IS IT WORTH IT? 

11/29/2013

 
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Luxe London is a company who is building a large $55 million dollar, 19 floors, fully furnished student focused apartment building according to the London Free Press. As you can imagine, this student apartment building will have all the bells and whistles: parking, free laundry, 2/3/4 bedroom units, a gym, sauna, movie theatre, and study rooms, etc. etc. There is no stone left unturned here, and this is reflected in the pricing. Looking a bit deeper, we wanted to help students figure out if this is a good value for their rental dollar. Our preliminary research suggests that Lux London:

-          Has 2 bedroom apartments going for $795/person/month = $1590 + utilities!

-          Has 3 and 4 bedroom units for $595/person/month plus utilities

-          Penthouse suites are $1000, but we don’t know how many bedrooms they have yet.

These prices set out by Lux London are smashing previous highs that we have seen in the rental market. Lux London is the new Varsity Commons (student buildings in downtown London) and they are charging tenants an arm and a leg for high end accommodation, location and amenities. For a two bedroom apartment $1590 with utilities and internet/cable quickly turns into $1800/month, which is $900 in rent/person. Yes there are a number of advantages to living in a new, modern building, and although I do believe the Lux London will fill up fast, the rent is very high. In my opinion they are able to charge this much because they do not have any competition in this top tier of the market: they have created their own category.

Should your average student rent from here? I don’t believe your average student can afford to live here and pay for things like tuition and books. Your average bedroom at Western rents for $400-$550 with utilities on a 12 month lease, usually with 4 or 5 tenants. Obviously in apartments the price would go up, but to almost pay $900 in accommodations for a two bedroom apartment every month is very steep for your average student. If you want the prestige of living in this building, then you need to hurry and get to renting it out because once this is full the Landlords in the region will be back in business.

Many Landlords in the area have asked me if this building will affect their opportunity to rent next year, and the short answer is no. One cannot compare a $55 million dollar new building to a single family residential student rental property. However, most Landlords own 5 bedroom homes, and Lux London does not directly compete with group of 5 rentals. Therefore, there will still be a large group of first year students who are looking for a large house close to campus that accommodates 5 tenants on a 12 month lease. The selling point on these properties now is very simple: do you want to pay $500/month and have everything you need, or roughly $900/month and have everything you want? For most students, the answer is very clear.


Landlords: Is Buying and Renting a House To Fanshawe College Students on the Famous Fleming Drive Really Worth It?

11/28/2013

 
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In this case study, I want to give some insight on the famous Fleming Drive, thanks to the now famous Fleming Drive Riot that happened on St. Patrick’s Day in 2012. This riot gave a black eye to Fanshawe College as an institution, and to landlords in the area who are not looking after their properties. The real question here is whether or not to invest in this area as a Landlord.

The short answer is be careful. In my experience, the students at Fanshawe College are like any other college student attending the college. The student tenants are normal, effective adults who work and attend classes to get an education just like their peers living on other streets. There is definitely a negative stigma towards Fleming Drive, especially coming from parents. There are several parents who ask me to show them properties anywhere around the college, but not on Fleming Drive. However, there are student tenants who explicitly want to live in a student dominated area and prefer to live here.

Since the housing values dropped considerably since the riot, and the Landlords bought properties around 2007/2008 (before the market crashed) in the area, it is an ongoing topic of discussion: to sell their property and lose $30,000 - $50,000 on the value to get rid of the headache, or to ride it out until everything gets better and things settle down. For Landlords in this position, they are definitely pot committed to their investment and if they do not want the “headache” from student tenants anymore they should seek out a property management that has experience and expertise in renting out to student tenants on Fleming Drive. If you are a brand new investor looking to get into the industry, I strongly suggest you stay away from Fleming Drive as it is only for those investors who have a large tolerance for risk.

For the experienced Landlord, who has purchased several properties in the area and understands what it takes to properly maintain and run an effective student rental house, then Fleming drive continues to be a good investment. As the property values have decreased on this street around Fanshawe College, now is the time to save a lot of money and purchase a property that is not fully rented out in the area. Close the sale around February 1 of next year. These houses are roughly 20 years old and need some work: paint, flooring, light fixtures, upgrades to appliance, and especially replacing the roof. If these renovations are undertaken, and a property rental company hired to rent out the property, we have seen these houses rent for $425-$475/bedroom (on a 5 bedroom house) all inclusive which provides for a healthy return on your investment. Although the value of the property may not increase substantially in the next 5-10 years, the cash flow from the property is definitely lucrative considering the value that these houses are not selling for. For example, a 5 bedroom bungalow in 2007/2008 was selling for roughly $230,000 and we believe that a good price point to buy one of these properties now and fix it up and rent to Fanshawe College students will cost roughly $180,000.

I would caution Landlords to stay away from buying the attached townhouses on Fanshawe College because of the ever changing Landlord License by laws in London, Ontario. I would also stick to only five bedroom student rentals in the area. There are several properties for sale on the street and now is the time to purchase. Although the student tenants might have a bad reputation in the area, a major part of the problem is absentee Landlords (or slumlords) that do not really care about their properties or the quality of tenants that are occupying their units. I would suggest hiring a property management company that has expertise in the Fleming Drive area to rent and manage your investment that provides a substantial return for seasoned Landlords. If you have any questions about this case study, please email chris@corerentals.ca.



When to Purchase a Student Rental Property at Western University or Fanshawe College in London, Ontario

11/28/2013

 
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There are several times per year where there are family homes and student homes that go up for sale around the campuses of Fanshawe and Western. In our history, we see many of these properties go up for sale October-December and May-July. This is not a coincidence: many times these properties are not rented out for the upcoming year (usually Sep. 1 or May 1 lease) so current owners are losing money onto their asset and would rather sell then keep losing money. This is where several real estate, property management, small businessmen, and even numbered corporations come in and buy up properties in the area. But when should you buy?

Finding a property for a good value is difficult at Fanshawe College, and especially at Western University. The best investments that we see from local landlords and businesses are those that are buying houses on the “low end.” There are several reasons why houses still sell in these areas for under market value: they are not fully rented, they are empty and need a lot of work, and if a new owner would step in there would be several months of carrying costs prior to renting the house out to a new group of students.  Since the new owners (who are usually savvy Landlords with a good realtor who know what the real price of some of these properties are) understand the market and cycle of renting, they know that they need a maximum of 90 days before May 1 or September 1 to buy, renovate, and rent a house comfortably while minimizing carrying costs. Therefore, the best time for a prospective Landlord to close the purchase of a house on the low end of the market is around February 1 and July 1.

This advice is not for all Landlords. Buying and selling happens on a weekly basis around Fanshawe and Western in London, Ontario. However, if you are looking in to investing in these areas outside of the time frames outlined previously you will be buying a turnkey investment: a property that is renovated, rented, and hassle free. There are Landlords who definitely want this (usually Landlords from out of town) but there are others who have a different philosophy: buy low, spend some money, rent it out, and either hold onto the equity or cash out.  

When London, Ontario Realtor  Show You “THE NUMBERS” To Entice You To Buy A Student Rental Property

11/28/2013

 
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A lot of Landlords in London consult with Realtors and hire them  to help them purchase student rental properties at Fanshawe College and Western University. This makes sense to do, until the Realtors so you the numbers. I 
will give you an example. The Realtor recently spoke to a Landlord client of  mine about buying one of his rental properties, and “the numbers” conversation went as follows. 

The price is $290 000, and the client borrowed 20% from the HELOC to put a down payment on the house. The mortgage, insurance, and condo fees are calculated to break it down on a monthly basis. The utilities were left out of the numbers equation, as the house is currently rented for $1900 + utilities for another 11 months. The net profit from the home is $7200/year, of $600 per month. As a passive income strategy, the Realtor convinced my client that this is a great investment. Unfortunately I have to disagree and I will outline a few  reasons why:

1.       Purchase Price is a Red Flag

Buying a rental property for $290 000 that only has 4 bedrooms inside is not a wise investment near Western University of Fanshawe College. According to several Landlords, the 5th bedroom in a student rental property is what is considered profit. In this circumstance, the owner is buying the house for too much, and this will not allow them to make profit on the property.

2.       Location

Although there is some new development in North Centre Road, and it is nestled in a nice area in northwest London near amenities such as Masonville, it is not typically a student friendly area. Properties that are several kilometers away from Western University campus tend to rent out for less money, a students will have to bus or drive to school, which includes a larger expense of time and money. Students would rather pay a premium to live a couple blocks away from campus and simply walk to school. North Centre Road is going to be difficult to rent out, especially to students for $475/room on a 12 month lease given its location next year. 

3.       
More Expensive To Run The House

Those numbers listed by the Realtor do not include house insurance, maintenance/repairs, renovation budget, contingency fund (in case the property stays vacant for an extend period of  time) or a property rental/management fee. These expenses will be incurred by every Landlord: one week a light goes out, a door knob needs to be replaced; a plumber needs to be called. Next year the furnace needs to be replaced, the property was vacant for a few months, a rental agent needs to be hired to rent the property. 

The Realtors give their rendition of “the numbers,” but those numbers do not include all of the expenses that a Landlord actually incurs, and the reason why they do this is to make it an attractive investment for them to make commission from you! If you are a looking to purchase a property in London, Ontario as an investment property, I suggest you give us a call prior to purchase. We can consult you in regards to how well the house rents out, the rental market value of the house, and if “the numbers” actually make sense to us. 


FANSHAWE AND WESTERN School NOW IN SESSION and Your  STUDENT Rental PROPERTY is Empty. What Do You Do?

11/28/2013

 
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Around Western University and Fanshawe College campuses, there are several student rental homes. The supplies of these homes are increasing year over year, and it is getting more difficult for Landlords to successfully rent out there houses. Sometimes, Landlords (like yourself) are not so lucky and cannot find tenants on a full year lease for May 1 or September 1 (depending when your cycle of renting begins). So, what are your choices at this point?

1.       Double down on marketing efforts – minimal clean up (cheap option)

2.       Start renovating property and cross your fingers (expensive option – long term value)

3.       Sell property (property will be undervalued due to the house not being rented)

A.      Double Down on Marketing Efforts and Minimal Clean Up

This option is what most Landlords prefer. They usually think they can rent out their houses on their own. Sometimes this doesn’t work out, and they scramble at the last minute to contact a student property rental service company in London, ON like us. Unfortunately, we usually end up going into these properties and realizing they are in poor condition, need a lot of cleaning and also to be marketed properly. If Landlords oblige to make the necessary repairs, cleaning, and other small upgrades the Landlord may have luck with a rental service company who can promote a good product that prospective tenants will sign a lease on right before school begins.

B.      Start Renovating Your Property and Crossing Your Fingers

There are several reasons why student rental properties in London do not rent out (bad location, price too high, house is in disrepair, no marketing, etc.) but the #1 reason we have found is that the house needs to be upgraded. Routinely, many of the student rental properties need regular maintenance (service furnace, AC, upgrade roof, etc.) alongsidecosmetic upgrades. The largest improvements you can make in your rental property are paint and flooring, and next are kitchens and bathrooms in regards to renting out your house. The landlord may lose money in the short term (i.e. September) but if they take a few weeks to renovate there unit, and have enough burn through funds to pay the bills until January or May, the house is sure to rent out if it is marketed properly.

C.      Sell Property

This option is for those Landlords who no longer want to be in this business anymore, who do not have the capital to invest money in the house, nor the funds to pay the bills for an extended period of time for the rent to kick in again. These landlords usually lose money on the sale price of their house because if it didn’t rent out before school started, as stated early, it probably needs money for cosmetic upgrades. If a student rental property goes up for sale right after the school year has started, needs money to bring it back up to par with other rentals, and is currently vacant, this will drive the price down. An opportunistic investor can apply the tip above (start renovating your property and cross your fingers) to buy a house, fix it up, hold onto it, and hire a company to get a lease that provides great value and top dollar out of your house. 

If you are a Landlord who needs advice on purchasing a student rental, renting a student rental in London, Ontario or wants to know how much rent you can get out of your current rental, contact us. 

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    Core Property Rentals and Management's Advice on Student Rental Properties at Fanshawe College and Western University in London, Ontario, Canada.

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