Tips for Landlords Renting to Students

by AL Support July 20, 2017

Tips for Landlords Renting to Students

The summer is flying by and landlords are preparing for the fall rush of students returning to colleges and universities across the country. Here are a few tips about renting to students from the Ontario Landlords Association and the University of Toronto:

 

  • Students prefer locations that are close to transit lines and amenities.

  • Rent should be in line with average listed rates.

  • Paying utilities can be daunting and so they prefer utilities included in rent.

  • They want a reasonably maintained unit and a good landlord.

  • They expected repairs to be completed in a timely manner.

  • Safety is a big concern, so install alarm systems, bolt-locks, window locks and outdoor lighting.

  • Bike storage at the property is a welcomed addition.

  • They don’t want their landlord to be on site all the time.

The best way to monitor your student rental property without being on site is to install a Flowie water sensor kit. It installs in two minutes on your water meter and monitors your property:

 

  • Instant alerts are sent to your phone about abnormal water use caused a broken toilet, faucet or a hose left running.

  • Receive flood alerts if there is unwanted water on the floor caused by a water heater, dishwasher, water softener, laundry or shower.

  • Track water use by the minute and identify if use is above average for the number of tenants.

  • Monitor the cost of the water that your tenants are using. 

You can receive alerts wherever you are and don't need to constantly travel to your property to check it. When there is a water issue, you can fix them before it causes major damage. And understanding how much water is being used by day, hour and minute can you help manage water costs efficiently.

 

Learn more at alertlabs.com/property to help protect your property and your tenants.





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