My wife and i are looking to buy an apartment in the broadway uni lodge in NSW, Sydney
We are wondering how unilodge make their money?
From what i know the rental rate given to students is the same rent an owner receives. I know the owner pays 6.6% in management costs but is that their entire source of income?
Another thing…is it guranteed rent every week. 1 realitor said yes and another said no.
Anyway any information in regards to unilodge will be very help in me making my decision
Ilan
The problem is the size of the things. very small which means low LVRs and not many lenders. This in turn leads to little or no capital growth.
Another issue is the management restrictions. They may even try to restrict which agents you use to sell the place.
I had a friend trying to sell one about 10 years ago – she wanted around $120,000. not sure what they are selling now for.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
The units are incredibly small, about 25 square metres. Try swinging a cat in that area.
Average price about $160,000, and very low capital growth. Not much going for them as an investment.
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