Posts Tagged ‘University of Toronto’

Tips For Renting To Students from University of Toronto Housing Services

Thursday, September 1st, 2016

 

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Do You Want to Become a Successful Student Housing Landlord? 

We continue to get a lot of messages and comments from people who want to rent to students. OLA members have written how much they appreciated our previous posts on the topic and want more. In fact, our interview with the U of T Housing Services team received tremendous feedback and helped many small landlords succeed in renting to students so we asked them for more tips for 2016.

Many new investors and future landlords were student tenants themselves at one point and remember their time renting. They remember how they were looking for safe and attractive rental properties run by a great landlord.

Some say they never found the type of property or landlord they really hoped for during their uni or college days, and want to provide a terrific rental experience for the students of today. They remember how they followed the rules, always fulfilled their lease obligations and paid the rent on time. They were great tenants and now would like to rent to great tenants.

Even small residential landlords who aren’t near colleges or universities are also becoming very interested in buying a student rental property. They know they can apply their skills and knowledge as experienced, professional, service-oriented landlords to create rental properties for students who are looking for high quality rentals.

In order to help people interested in getting into student housing we interviewed the University of Toronto’s Housing Services team. They are a terrific resource for both landlords and tenants.

Here are some of our questions and terrific tips:

Many of our members have spoken about your helpful tips for landlords on Twitter.  When did the U of T team start using twitters to get the message out?

We starting actively using Twitter in late 2015. It’s been a great way for us to stay connected with our landlords and the housing community!

How does your service help landlords in 2016?

We offer a site where landlords can advertise their rental unit whether it be short- or long-term, private or shared accommodation.  Our site averages 13,000+ visitors each month including U of T, George Brown, OCAD, and ESL school students,  U of T staff and faculty, and students of other post-secondary institutions.

We offer various pricing options, insider tips on topics such as creating more attractive ads for students, average rental rates in the area, and current legislation.

Your ad will be visible to our users 24/7, you can track how many times your ad has been viewed, include extensive details such a floors plans and other photos.

Has anything about your services changed for 2016?

Yes! We are pleased to announce that we’ve launched a new and improved Off-Campus Housing website. The new site is mobile-friendly and has many new enhancements requested by our users. As a result of the enhancements, it is now more frequently used by faculty and staff, and is promoted by the University’s Faculty Relocation Office.

With property prices appreciating fast are there more options for tenants this year?

We have seen a slight increase in ads so far this summer – our improved service has attracted new landlords whom have never listed with us before.

We have many new members who have invested in student housing. What tips can you provide to help them attract good tenants?

Good landlords attract good tenants. A good landlord is someone who follows the guidelines of the RTA and stands by their responsibilities to maintain their unit accordingly.

Being such a large institution, our users are diverse: undergraduate and graduate students, staff and faculty, as well as students attending other post-secondary schools who are looking for housing in the Toronto/Scarborough/Mississauga.

Our users are looking for places that are fairly close to our three campuses (or near a major transit line), offer competitive rental rates, include utilities, and where possible, a flexible lease agreement (i.e. month-to-month, 8-month leases, or ability to sublet in the summer). We encourage your members to include in their ad any amenities and features that might be attractive to our users such as laundry facilities, dishwasher, a backyard or patio, natural light, air conditioning, or WIFI.

What kinds of things are students looking for in choosing one rental over another?

Move-in date, budget, and location are the key factors, but students are definitely attracted to places that offers some of the amenities and features mentioned above (laundry facilities, dishwasher, a backyard or patio, natural light, air conditioning, or WIFI).

Do you have any tips on how new landlords renting to students can ‘start off right’ for the coming academic year?

To start the tenancy off right, ensure the place is in good condition when the student moves in, so they can focus on getting settled and starting classes without the added stress of trying to sort out maintenance and repair issues.

If the landlord shares a place with the student, it’s important to respect their privacy and remember that a student’s schedule can be very hectic depending on their program. They may have early mornings and late-night study sessions. We encourage our students to be involved on campus, so they need a supportive home environment to make that possible.

Are there anything about rentals that you hear students don’t like and wish landlords would change about rental properties?

The most frequently raised concern is that many landlords want a 12 month lease agreement. This can be a deterrent for students who do not live in Toronto for the summer and need to worry about finding a sublet. We do our best to educate and offer advice on the process of finding a sublet, but it is still something that many students are worried about (especially during their exam period in April).

During the academic year, we hear more about maintenance and repair issues. It would be helpful if landlords provided information at the start of the tenancy on how to request repairs, and promptly resolved maintenance and repair issues when they are brought to their attention.

Tips For Renting To Students

Are you thinking of becoming a student housing landlord? If you are make sure you do a lot of research and you can join a growing community of successful student landlords.

University of Toronto: How Can Landlords Rent to Students In Ontario?

Monday, September 1st, 2014

Toronto landlords rent to students

University of Toronto – More Top Tips for Ontario Landlords Who Want To Rent to Students

Our post last Spring advising Ontario landlords how to successfully rent to students led to hundreds of emails coming in.

Landlords across Ontario kept telling us how much they appreciated the advice presented by the helpful Manager of Rental Housing Service for the University of Toronto.

It looks like more investors are looking at renting to students as way to create a profitable rental business. We even had some Alberta landlords send some questions in.

One of the highlights of the mail was from a BC landlord. She wrote how the latest CBC News story on some “serial tenants” in British Columbia has led her to thinking of changing her rental business strategy to renting to students only and thanked us for the tips.

The manager is Jennifer Radley and the U of T is lucky to have such an helpful person who cares about student tenants and wants to help student landlords (because creating more educated and professional landlords helps students in the long run).

Here are more questions and answers from Jennifer to help landlords successfully rent to great student tenants.

1. Do students normally have guarantors who can sign the lease?

Not always, especially if they are international students.

Some students will obtain a letter from their Professor or Registrar confirming that they are a F/T student and most likely have the financial means to study/live at U of T.

2. Do students like furnished apartments (beds, tables, chairs, etc.)?And will they

    be willing to pay for the furnishings?

Yes, many students do like furnished apartments. The ideal situation is where furnishings is optional. Depending on how much extra, they could be willing to pay.

3. Most students are pretty young.  Is it worthwhile to do a tenant credit check on

    them before renting?”

We do recommend that landlords protect themselves, but many students may not have much of a credit history, so what you find out may be limited.

However, most students do have funding to cover the costs for their studies, including housing, which they may be able to provide you with evidence of, and may also be able to show they have been responsible in paying off their tuition and other fees to date.

4. How can I screen student tenants?

 We recommend treating a viewing like an interview – ask them questions about past tenancies (if applicable), their source(s) of funding (e.g. OSAP, grants, awards, employment income, etc.), how long they are here to study, etc. and also ask for references – past landlords, registrars, residence deans, etc.

5. Engineering students have a reputation as party animals who wreck their  

    residences.  Any truth to this in 2014?

Not in our experience – most of our residences actually have the opposite experience: Engineering students are so busy with their heavy workload, they do not do engage in enough social activities.

Most engineering students tell us they can only afford to do non-school related activities one night a week.

6. Is it true Masters & PhD students are better tenants compared to undergrads?

Not necessarily. U of T is a challenging school that attracts high caliber students for all its programs.

Most U of T students are hard workers who take their studies, and their financial commitments, very seriously.  

7. How can I explain to students I’m a good landlord who only wants rent paid on   

    time and won’t bother the students at all and will fix things?”

Tell them. Students are looking for honest, kind and hard-working landlords – similar to hat landlords look for in a tenant.

8. Should I hire a female property manager if all the tenants are female nursing

    students?”

 That is not required.

 9. Does the University of Toronto have a department to deal with tenant complaints?”

Yes, Housing Services! We have a formal complaints process for both landlords and student tenants.

Ontario Landlords – Do you want to rent to students?

Learn from the advice provided by the University of Toronto and become the type of landlord student tenants are looking for.

Ontario Landlords Association Teams Up With the University of Toronto To Help You Find Tenants!

Thursday, May 1st, 2014

 May 1st, 2014

Ontario Landlords Association Teams Up With the University of Toronto

Ontario Landlords Association Members – Find Student Tenants By Advertising on the University of Toronto Housing Services Portal for a Discounted Member Price !

The University of Toronto is a world famous university with lots of international students.

We were fortunate to have Jennifer Radley, the manager of Housing Services for the University of Toronto, provide important tips and advice on how you can become a successful student landlord.

It was very helpful news for Ontario Landlords and must-see reading for anyone interested in renting to students.

You can read the article here: Top Tips for Renting to Students in Ontario.

Lots of Positive Feedback

We had a great amount of positive feedback after we posted the student landlord tips Jennifer provided.

A Toronto landlord wrote in:

“Read the OLA post with all the tips…thanks, it was helpful and I learned from it… Give Jennifer my thanks!”

There was a thankful email from an Ottawa landlord who feels more confident now:

“I’ve been thinking of becoming a landlord for the past few years but haven’t pulled the trigger because of all the ‘Tenant From Hell’ stories. 

I’m now more confident and will focus on renting to student tenants in Ottawa.”

We even had an Alberta Landlord email us this message:

“Good advice wherever you are. Make sure students know you are better than the rest and you care about them.”

The University of Toronto Teams Up With the Ontario Landlords Association

Housing Services for the University of Toronto is a portal for landlords to reach student tenants.

Here are some of the benefits for landlords to advertise at the University of Toronto portal:

Benefits:

#1  Lots of Student Visitors

15,000+ visitors each month, including U of T, George Brown, OCAD, and ESL students, as well as staff and faculty and students of other post-secondary institutions

#2  Pricing Options for Landlords

Various pricing options to meet your needs and save you money

#3  Insider Tips

Insider tips on topics such as creating a more attractive ad, average rental prices in your area, and current legislation

#4  Find Student Tenants for Electives and Sabbaticals

The best place to advertise housing for medical electives and sabbatical rentals

#5  Customer Service

Customer service available to help at (416) 978-8045

Features For Landlords With Ads at the University of Toronto Portal

There is a huge group of good tenants looking for good landlords renting out safe and well-maintained rental properties.

Here are some of the benefits of with the U of T:

Features:

Create and maintain your own ad

Online exposure 24/7

Track how many times your ad has been viewed

Include extensive details, and up to 10 photos

Cost effective for landlords:

    • $39.99 for 6 weeks
    • $19.99 to renew
    • $149 for an annual ad (ideal for week-to-week rentals)
    • $349 for an annual multi-unit building ad

Discounts for OLA Members!

Members of the Ontario Landlords Association are fast gaining a reputation as a group of professional small landlords who understand and follow the Residential Tenancies Act and the Ontario Human Rights Code.

Tenants around Ontario know OLA members put our focus on renting out well-maintained and affordable properties.

Members who want to use the University of Toronto portal to find good student tenants will receive a 25% discount on advertising prices!

Ontario Landlords – Are You Thinking of Renting To Students?

Canada landlords from BC to Newfoundland are investing in student rental properties.

Become a Member of the Ontario Landlords Association and Receive a Big Discount To Advertise and Find Great Student Tenants For Your Toronto Rental Property.