Most investors seem to have a negative perception about managing student rentals, mainly due to the wear and tear in the property. According to Derek Lobo, CEO (sales broker at Rock Advisors), investors need to embrace the growing base & rising cash-flow of the student rental market, and to remember that the worries about wear & tear are a risk landlords take with all properties, not just students.
“Student rental investing is the most location sensitive business in the world,” he says. “But, it’s also the most lucrative. For example, a four bed townhouse near Brock University in St. Catherine’s will rent to a family for, on average, $1,300 per month. But by charging per bedroom, you could get $2,000. Student rentals are by the bed so it’s more of cash generating business.”
“Almost all universities country-wide need more accommodation. The student market is one of the most under-served yet and is one of the best opportunities,” says Derek Lobo.
Over 10 per cent of the student population comes from outside of Canada with the overall numbers expected to exceed the one million mark in the near future.
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