Student tenants - Canada (GTA)

5 Replies

Hi All,

I'm looking to purchase a property and trying to budget everything.

Wanted to know if students pay less during the summer/off school months?

Any tips would help

Thanks!

@Victor Parag

That decision would ultimately be that of the landlord, but would be dictated to a degree by what is customary in your market. We have several student rentals and do not offer discounted rent for summer months on our apartments.

We are presently going through an internal debate w/r to whether we might make a summer rent concession at our new student boarding house - this has been brought on by the university offering reduced lodging in residence during the summer. My intention will be to avoid a reduced rent if at all possible.

@Roy N. hmmm.....ok, I will have to see what is customary in my market.

Thanks Roy.

Originally posted by @Victor Parag :
@Roy N. hmmm.....ok, I will have to see what is customary in my market.
Thanks Roy.

Victor,

If it is customary in your market, can you do it w/o giving away the farm. If it is not customary, but high vacancy is, could it provide you an advantage ... perhaps you offer a discounted "summer" rent for 3-4 months within the context of an annual lease? The ultimate question is would you prefer to get 75% of something rather than 100% of nothing.

awesome point @Roy N.

Victor which city are you looking to purchase this rental property? I have noticed for some University towns the market has shifted. For Brock university it used to be that students were looking for next school year housing from Jan to March but now you have to start posting adds as early as November. With a lot more competition now lowering the rent for summer mgiht attract more viewers.

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