Halifax, NS Student Rentals

4 Replies

Wondering if anyone here has student rentals in Halifax?  When renting to students are you always able to get a group to rent the whole unit (ie. 5 friends take a 5 bedroom unit)?   If you have a smaller group of 3 that wants the unit do you rent 3 bedrooms to them and look for 2 additional students or do you make the group of 3 responsible for covering the rent of all 5 bedrooms?

Hello Brad,

I own student rentals in Illinois, and we deal with this scenario quite a bit. I typically adjust the rent per person to help cover some of the rent for the empty bedrooms. For example, I just leased a 7 bedroom house to 6 tenants for next school year. We slightly increased the rent per person to $400 x 6, and made a note in the lease that they can add a 7th person at anytime and the rent will adjust to $375 x 7. This gives them some incentive to search for another roommate. Another option is to offer roommate matching, but I haven't had good luck with this in the past.

Il REIA members who do student rentals ALWAYS run a credit check on each student's parents and require the parents to be co-signers.

@Brad Hoyt I am in the very small minority on this but I strongly dislike co-signers. Way more trouble than they're worth IMO. I've rented to hundreds of students and have been paid in full by all but 4 of them. This is mostly achieved by putting them all on one lease and putting the burden of responsibility on all.

This thread may help w/ some context: Nearing 1,000 College Student Tenants: Here's what I've Learned