Hi;
I am thinking about organizing student accommodation, but the thing is I unable to buy my own investing property. Can I rent, for instance unit, and create it as accommodation for students?
Is it legal to rent from real estate and then rent to other people?
Please advice.
Thank you
DanikoYes you can, it is called subleasing and it should be disclosed in the initial lease agreement
Dear Xenia;
Thank you for your reply, but the problem is that landloards and real estate agent are terrified when I mention about putting studnets into their property. Do you think if I sign long term contract with higher amount rent rate every year and guarantee that the accommodation wont be destroy, they will change their minds. I spoke to few people who used to do that and all of them suggested me not to mention about my real plan, but I am afraid that I will put into big problems if someone finds out. What would you recommed?
Thank youYou need to find the right house and the right landlord. If you're looking in the area near big school/University where there are lots of student accomodation, i dont think you will have any problem finding one. Chances are they've rented to the students in joined tenancy before. Disclose your plan at the beginning to avoid later problems, you might even get some tips from them.
Some landlords who ever manage student accommodation actually quite happy when someone wants to be the main tenant and sub let it. That means less work and less headache for them. I do the same thing with my IP.
Question is have u ever live in share accommodation house before? i suggest you try and observe it before you pursue this.Hi Daniko,
It is extremely hard to get an agent/landlord to agree to sub-letting. I tried to do something similar and applied for numerous properties but there was no joy. I had to give up. But that's not to say its not possible. Try advertising in the local newspaper or put a ad in the local noticeboards. As Xenia said, be upfront about sub-letting because you do not want to be in any trouble later on.Which state r u interested in ? anyone specialise in Student Accomodation in WA. ie Curtin Uni. ?
mingling wrote:Which state r u interested in ? anyone specialise in Student Accomodation in WA. ie Curtin Uni. ?
I'm in Adelaide, so that's the market I'm primarily interested in
thanks for reply Robmuller. One of my IPs is in WA, near Curtin Uni and looking for someone specialize in Student accommodation. cheers !
Guys;
Thank you for your comments. I already have some experience in studnet acommodation, thats why I am interested in developing the project. I know its extremely hard to find landloards willing to rent their IP for students. How about if I offer, for instance higher rent or higher bond, or other bonus which could convienience them to leasing their property.
Any suggestion?Dear All;
Can anyone advice me about Insurance company which provides Landloard insuranace for student accomodation?
Thank youI would think the landlord wont allow you to sublease especially student.
you wont know how terrible student is….. is not easy to find a good student and taking good care of the property and ended up you need lots of money to repair it.
If anyone is still interested in Student accommodation – I have recently looked at one in Ipswich in QLD. The uni of QLD is next door and all the reseach I have done on the town seems to show that it is going forward attracting industry, infrastructure and investment.
PM me and I could send you some of the information I received – pp $290k, 3bdrm t/houses. rent about $400pw i think.
O
offer higher rent return and try get a 12mnth lease. Im just wondering though, can you sub-lease under a company name and is there a limit on how many properties you can sub-lease?
Hi Daniko.
I have thought about large houses which could be used as student accommodation, but realized I would need to put in a lot of time to manage it. This leads me to think that you could actually approach property owners with a business proposition. Show them how much more they could get if you were running it for them as a student boarding house. Sell your skills to them! You could offer to do weekly cleaning, garden maintenance, etc. and rent collection in exchange for your accommodation and x amount. You'd have to be willing to share the profits with them, as they are taking out increased insurance and wear and tear, internet connections for the bedrooms etc.
Good luck,
GHey Daniko,
Student accomodation has it's benefits – as seen with Hamish's example of immediate positive cash flow.Although your idea of subletting may be challenging, as many landlords don't allow it in my experience. However, if you do enough research and ask around, you may be able to find one.
Good luck!
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