Does anyone here invest in downtown Peterborough, Ontario?

General Landlording & Rental Properties
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Does anyone here invest in downtown Peterborough, Ontario?

Eric S.
Contractor · Toronto, ON · Member since 2019 · 30 posts · 3 votes

I'm looking to buy a property to rent out by the room. Most likely to students. I'm looking at Peterborough but most properties I'm finding are in the downtown area. After alot of research I'm finding that the downtown area is really sketchy which doesn't bother me but I'm wondering if students are generally still fine renting in the downtown area.

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  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    3mo
    Quote from @Eric S.:

    I'm looking to buy a property to rent out by the room. Most likely to students. I'm looking at Peterborough but most properties I'm finding are in the downtown area. After alot of research I'm finding that the downtown area is really sketchy which doesn't bother me but I'm wondering if students are generally still fine renting in the downtown area.


    The phrase I'd pay attention to is "rent out by the room."

    That changes the equation quite a bit because you're not really buying for the neighborhood alone—you're buying for a specific tenant base. I looked at a student rental years ago where the property checked every box on paper, but what ultimately mattered was whether parents felt comfortable co-signing and whether students felt comfortable walking home at night. The numbers worked. The leasing was harder than expected.

    One thing I've learned is that an area can be considered "sketchy" by local residents and still perform well for student housing if it's close to campus, transit, and amenities students actually use. The opposite can be true as well—a nicer area that's simply too inconvenient.

    Have you talked to any current student landlords in Peterborough to see whether they're getting pushback on location during leasing season, or are units downtown still filling up without much resistance?

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