All Forum Posts by: Dylan McLauchlan

Thanks Chad. I hadn't though of advertising for summer renters so early 

@Adrew Syrios

Thanks, good to know.

@Jackyn B.

That's a great plan. I could definitely accommodate having a vacancy in the house. Seeing as I plan to be a live in land lord, so I would definitely have the time to clean up, and oversee the transition.

Thanks Sam, good to know. I have some friends that manage some student rentals as well, so I'll try to ask around to get more info.

Hello all,

Just found a really attractive property right near a local college. So far the numbers work very well, but I'm not sure what to factor in for the vacancy rates, since as a student rental it my not have tenants for the summer months.

The current Vacancy rate for that area according the CMHC portal is 6.2%.

To any of you with student rental properties what do you do over the summer months?

@Roy N.

Thanks, those would be the best times to find student tenants

It's not quite walking distance from western. Probably about 3 km, but its right near a bus route.

I'll make sure to find out if it's seprately metered, and do more cash flow reasearch.

So far I've been assuming I'd pay utilities (I budgeted 500$/month which I know will be way on the high side)

@Bill S.

Great info, thanks!

I'm going to try calling some property management companies, and see if they can spare some rent information. So far I've just been checking out rent online, but it's hard to compare apples to oranges

By two a room do you mean two a bedroom?

You're right I could make a little bit of profit if I live in one of the bedrooms, and rent out the other three at 300$.

Hello all,

I've been running the numbers on an attractive property in my area. It's close to downtown, and a major university in my city.

It's a duplex with a 4 bedroom and a 1 bedroom, and I plan on living in the 1, and renting out the 4 bedroom, or possibly filling in a spot in the 4 bedroom, if money is tight.

What I'm wondering is how can I account for vacancy with the 4 bedroom unit? Are 4 bedrooms hard to fill in student areas?

My expenses will probably be around $1450

The one bedroom rents at 600$, and I'm HOPING the 4 bed can fetch $1400~$1500. Does this seem reasonable?

All advice, and input is greatly appreciated