Student Accomodation, Homes For Rent, Rental Home Apartments, Rental Homes for Western University (UWO) and Fanshawe College Students in London, Ontario
  • AVAILABLE HOUSES FOR RENT
    • Fanshawe College >
      • Summer Sublet
      • Apartment
      • Single Bedroom
      • Two Bedroom House
      • Three Bedroom House
      • Four Bedroom House
      • Five Bedroom House
      • Six Bedroom House
    • Western University (UWO) >
      • Single Bedroom
      • Two Bedroom House
      • Three Bedroom House
      • Four Bedroom House
      • Five Bedroom House
      • Six Bedroom House
      • Seven Bedroom House
      • Eight Bedroom House
    • Family Rentals
  • Tenants
  • Landlords
  • Maintenance
  • Resources
  • Book a Showing
  • Student Rental Case Studies
  • Roomate Finder
  • Contact Us
  • AVAILABLE HOUSES FOR RENT
    • Fanshawe College >
      • Summer Sublet
      • Apartment
      • Single Bedroom
      • Two Bedroom House
      • Three Bedroom House
      • Four Bedroom House
      • Five Bedroom House
      • Six Bedroom House
    • Western University (UWO) >
      • Single Bedroom
      • Two Bedroom House
      • Three Bedroom House
      • Four Bedroom House
      • Five Bedroom House
      • Six Bedroom House
      • Seven Bedroom House
      • Eight Bedroom House
    • Family Rentals
  • Tenants
  • Landlords
  • Maintenance
  • Resources
  • Book a Showing
  • Student Rental Case Studies
  • Roomate Finder
  • Contact Us
Student Accomodation, Homes For Rent, Rental Home Apartments, Rental Homes for Western University (UWO) and Fanshawe College Students in London, Ontario

FANSHAWE COLLEGE -  STUDENT TENANT LEASE DURATION ISSUES

11/28/2013

 
Picture
Problem: A residential Landlord in the Fanshawe College area owned a townhouse that was never fully rented. They had three single bedroom leases and with one week remaining before the academic year started in September, then needed help to fill in one bedroom. However, their problems were much larger than that: how could they have their unit always paying them the full amount of rent?

Meeting: The Landlord was from outside of London and could not be available to rent out their property all the time. They suffered and their property was empty for four months in the summer. Although they had three bedrooms filled for the next 8 months, they needed one more tenants right away and in eight months they would be empty again. This cycle continued for several years, and the Landlord did not seek any help with renting their property until now.

Short Term Solution: In the short term, it was evident that the single bedroom  to be filled. After advising the owner to clean up the property and solve all of the outstanding maintenance issues, the bedroom was filled on an eight month lease to coincide with the other single bedroom rentals at the property. The owner was now getting paid the full amount of rent for the next eight months. We advised this owner to contact us in a few months to begin the process of renting their house for the next year.

Long Term Solution: At Core Rentals, we specialize in renting out full houses to Fanshawe College students. This process begins in December, five months prior to leases expiring at the end of the academic year. In January the Landlord of this property contacted us and wanted us to handle the renting process for the next year.

We already crafted a waiting list of groups looking for student rental housing at Fanshawe. In January, a group of first year Fanshawe College students signed a joint lease for twelve months on this specific townhouse starting on May 1. Core Property Rentals and Management was able to 
find a group that signed a joint lease, took over the whole house, increased the rent by 10% of the year before, and the house will not be empty for the next 15 months.

Conclusion: The Landlord was extremely happy that that they outsourced their student rental housing to Core Rentals because they did not have to show the house themselves, they increased the total rent per month, and the found a group that signed a joint liability 12 month lease starting in May 1, which the Landlord thought was not possible.



Comments are closed.

    Author

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

    Categories

    All
    5 Bedroom Rental House
    Apartment London
    Apartment London Ontario
    Average Rental Prices
    Clean Outs
    College
    Content
    Empty Student Rental
    Family Rental
    Fanshawe
    Fanshawe College
    Fanshawe College House Showing
    Fanshawe College Off Campus Housing
    Fleming Drive
    Fleming Drive Riot
    Flemming Drive
    For Lease
    For Rent
    Getting Out Of Lease
    Headaches
    Homes For Rent
    Housing
    Investing Fanshawe College
    Investing Western University
    Invest London Ontario
    Keys
    London
    London Ontario University Investment
    Luxe
    Luxe London
    Move Out
    Off Campus Hosing
    Off Campus Housing
    Ontario
    Parents
    Pictures
    Price Of Rent
    Property Management
    Property Rental Service Company
    Prospective Tenants
    Realtors London Ontario
    Rental Home
    Rental Property
    Renting
    Renting Need To Know
    Richmond Street
    Roi Student Rental
    September 1
    Showing Your Student Property
    Student Accomodation
    Student Rental
    Student Rental Company
    Student Rental Market
    Student Rentals
    Sublease
    Sub Tenant
    Turnover
    University
    Utilities
    UWO
    Varcity Commons
    Videos
    Western Office Campus Housing
    Western University
    Western University Rental Market
    Western University Showing House

    RSS Feed

 student housing UWO and fanshawe college students in London, On