Archive for the ‘Student Landlords’ Category

University of Toronto Gives Advice for Ontario Landlords Association Members

Saturday, September 12th, 2015

University of Toronto student landlords Ontario Landlords Association

The Ontario Landlords Association Asked the University of Toronto for Advice On How To Successfully Rent to Great Student Tenants!

Lots of new landlords want to rent to students. And why not? Students are focused on their studies and want to live in a great, safe, comfortable rental property that in no way will distract them from their goal of getting high grades and obtaining their degree. And renting to students is different than renting to experienced tenants from hell.

We contacted the University of Toronto to get some advice we could share for our members. For our previous chat see this link: University of Toronto, How Can Landlords Rent to Students in Ontario

1. I want to rent to U of T students. How can your service help me?

We offer a site where you can advertise your rental unit whether it be short- or long-term, private or shared accommodation. Our HousingFinder site averages 13,000+ visitors each month including U of T, George Brown, OCAD, and ESL school students, as well as 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 a more attractive ad for students, average rental rates in your 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, and up to 10 photos.

2. How has your service changed since 2014?

For the first time, we’ve invited our landlords to attend our spring and summer Housing Fairs. This is an opportunity for you to showcase your property, meet prospective tenants, and learn more about our service! Our last fair of 2015 will be on August 22nd.

We’ve also added a new annual ad option ideal for those offering week-to-week rentals to medical electives and sabbaticals.

3. What are U of T students looking for in a good rental and good landlord in 2015?

No matter who you are renting to, a good landlord is someone who follows the guidelines of the RTA and stands by their responsibilities to maintain their unit accordingly.

Students are looking for places that are fairly close to campus (or near a subway line), offer competitive rental rates, include utilities, and a flexible lease agreement (i.e. month-to-month, 8-month leases, or ability to sublet in the summer).

We encourage you to include in the ad any amenities and features about your unit that might be attractive to students such as nearby shops, restaurants or attractions, a backyard or patio, natural lighting, air conditioning, or WIFI.

4. How are students choosing properties to rent? How do they decide?

Many students start by browsing the listings that have photos, match their desired move-in date, and are within their budget. The budget is ultimately the deciding factor but students are definitely attracted to a place that offers some of the amenities and features mentioned above.

5. How can good landlords communicate their goodness and professionalism to student tenants?

When students are calling or viewing a place it’s also an opportunity for the tenant to interview the landlord. Being genuine and professional from the start will not only get your relationship with your tenant off to a good start, but also provide an opportunity for future referrals (word of mouth).

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.

Renting To Students in Ontario

Saturday, March 1st, 2014

March 1st, 2014

Tips On How Can You Become a Successful Student From University of Toronto Housing Services

Tips On How Can You Become a Successful Student Landlord From University of Toronto Housing Services

Residential landlords in Ontario face a lot of challenges.

Whether it’s professional tenants manipulating the system to avoid paying rent or the government 2014 guideline allowing you to raise the rent only 0.8%, the challenges are real and daunting.

(Although you might be exempt and can raise the rent above the guideline if you own new buildings!)

Many existing landlords and new investors have written in with questions regarding renting to students.

After all, students are usually less jaded than older folks and have worked hard to gain entry into university.

With a heavy load of studies and busy social lives they are less inclined to think of ways to bring their landlord to the Landlord and Tenant Board and ‘play the system’.

Examples of students causing major (and expensive) problems for their landlords exist.

Take a look at this story from the Peterborough Examiner.

However, it seems renting to students attending colleges and universities is a profitable and safer way for you to invest in residential rental properties in Ontario.

Many landlords who rent to students have positive things to say about their investment choice on the Ontario Landlords Forum:

“I like renting to students. My houses are downtown near 3 universities in Toronto, so most of my tenants have been students.

Rent is secure, as they usually have OSAP or parental income to cover the rent.

I have indeed had students ask me to change their lightbulbs but I just tell them it is up to them to do that, offer them a ladder, and it isn’t an issue …

The dormitories at school usually only take first year students, and for second year the students have to find their own place (due to lack of space in the dorms to house everyone), so if you can get a group of second year students, you’ve got tenants for 3 more years and then they usually move out.

Best of all…No professional tenants among students…!”

Are You Interested In Renting To Students Yet?

We contacted the University of Toronto for help on getting some tips and advice on what students want from their landlords.

The Manager of Housing Services for the University of Toronto is Jennifer Radley. 

Jennifer provided answers to our questions and we appreciate her assistance. 

10 Tips On How To Be a Successful Student Landlord

Here are some of our questions to Jennifer and her tips.

 #1 What are student tenants looking for in a rental property?

Students are looking for a place that is either close to campus or along a transit line and close to amenities. Ideally, the monthly rent would be within the average rates already listed in our registry and would include utilities. If renting a basement apartment, students look for adequate lighting and windows. Above all, students want a safe, reasonably-maintained rental unit, and a good landlord. 

#2 What are most student tenants looking for when they say they want a “good landlord”?

To students, a good landlord is someone who:

  o     Follows the law (eg. Human Rights Code and Residential Tenancies Act)

  o     Offers affordable rental rates

  o     Repairs and maintains the property as required, in a timely manner 

 #3 What is the most common complaint from U of T students about off-campus landlords?

The most common complaint is landlords not repairing and/or maintaining the property in a timely manner.

The issues brought forward include everything from appliance and plumbing issues to pests and fire/water damage.

#4 Is it a good idea for a landlord to get involved in student tenant vs. student  tenant issues?

We recommend landlords follow the RTA and/or get advice on tenant vs. tenant issues from the Landlord Self-Help Centre and/or the Landlord and Tenant Board.

#5  How can a landlord improve a property to make it more “user friendly” for students?

Based on feedback we receive, the most appealing features are:

 o     Have utilities included in the rental rate (utilities can be quite intimidating to a student,  especially if international)

 o     Bright space/windows

 o     If shared accommodation, should have locks on the bedroom doors

 o     If private, a separate entrance

 o     Bike storage

 o     Pet-friendly

#6  Any tips on how a private landlord can communicate and cooperate with   university housing? (As not all housing services are as cool as the U of T one)

Yes – and thank you! Landlords can visit http://housing.utoronto.ca/Landlords.htm to learn more about our service, subscribe to our bi-annual LandlordNews newsletter, and to register/place an ad.

We are also available via phone 416-978-8045 and email (housing.services@utoronto.ca) during regular office hours to answer questions.

Let other landlords know about our service. 

#7  We hear student tenants are more and more concerned about safety. How can a private off-campus landlord accommodate that? Are things like security cameras a good idea or will student thinks it’s too invasive?

Things such as alarm systems, security cameras (more common in apartment buildings), bolt-locks (rather than doorknob locks), window locks, and good outdoor lighting (eg. motion-sensored) are some ways a landlord can make their property feel safer.

#8 Many of our landlord members are hands-on and not absentee landlords. Do students like landlords who come and do regular safety inspections (with proper notice) or do they prefer landlords stay away?

I think this depends on how often, how much notice is given, and how invasive the inspection is. No tenant, including students, want their landlord entering their room/unit all the time. I believe, however, safety inspections are typically done on an annual basis (unless there is adequate reason for another). In which case, with proper notice, I wouldn’t see that being a problem. This is based on the individual’s preference.  

#9 Should landlords encourage tenants to get insurance?

Yes. We also encourage students to get tenant’s insurance.

#10 Where can landlords who rent to students learn more to become better landlords and have better relations with their student tenants?

U of T Housing Services is a great place to start!

Where Is a Good Place To Invest In Student Rental Properties?

There are a lot of good colleges and universities in Ontario.

For example, Toronto landlords have, as our OLA member wrote, three universities and numerous colleges in the city.

Ottawa landlords have a market of students going to the University of Ottawa and Carleton. 

Hamilton landlords often rent properties out to students at McMaster University.

We will discuss this more thoroughly in future blogs.

Landlords – Is Renting to Students Right For you?

To Discuss This and Other Landlord Topics Welcome to the Ontario Landlords Forum