Is Renting to Hamilton Students Your Next Investment?
Things are looking up for Hamilton landlords in 2014.
Many landlords seeing some very sweet appreciation of our rental properties.
Since so many of us focus on cash-flow, seeing our rental properties go up in price is amazing news in case we want to sell or re-finance our mortgages.
As the CBC News report shows we are also seeing good job growth and more good tenants coming to our city and wanting to work and develop roots here.
We are on a roll since Hamilton landlords united and defeated the crazy idea of a ‘tenant tax’ also know as Hamilton landlord licensing.
Studying in Hamilton
Hamilton is a great city for students.
We have lots of excellent places for students to study.
These education institutions including Mohawk College.
We Are Home To a World Class University
Hamilton is also home to McMaster University.
This is an internationally renowned schools with over 24,000 undergraduate students and over 4,000 graduate students.
McMaster is also home to one of Canada’s most famous medical schools.
Tips for Student Landlords
The Ontario Landlords Association is a leading helper and friend for small landlords across Ontario.
Some of the older landlord associations such as the Hamilton District and Apartment Association are very helpful for large corporate landlords with all those big buildings you see but not good for small residential landlords.
After all they have done nothing to help us for years?
The answer is: Nothing!
Except they still love taking those annual fees.
They don’t help small landlords.
The Ontario Landlords Association focuses on real issues for small landlords.
They have an excellent interview with Jennifer Radley who is the Manager of the University of Toronto Housing Services Center.
Jennifer took questions from small landlords and investors on to become a successful student landlord.
Sure, she is working at the University of Toronto but her advice and tips are helpful for landlords all over.
It’s also essential reading for an Ottawa landlord renting to Carleton students or UofO students.
What Questions Did Landlords Ask?
For example, one of the questions was about what students want from a rental property and what landlords should make sure of to motivate students to rent from them.
The answer from Jennifer was very thorough and included:
1. Students want to rent properties close to campus or with easy access to it
2. Landlords should make sure your rents are competitive
3. Students love properties where rent includes utilities
4. If you have a basement unit, make sure it’s bright and happy.
5. Students want a safe rental so they can focus on studies at all times.
Becoming a Hamilton Student Landlord
We’ll have more on these important tips of Hamilton Landlords in our next blog.
There is a great opportunity in Hamilton and smart investors are getting in now.
There is a growing amount of students coming to Hamilton and they are looking for professional landlords.
They are looking to rent from you!