Student Housing Information Session The Experience

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Student Housing Information Session The
Experience

• Designed for Laurier Brantford Landlords
• January, 2009

Presented by Bailey Gross
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Student rental market
Advantages of www.places4students.com
The Ideal Rental Unit
Millennial Students
Questions and comments
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The Experience

• WLU residence buildings
• Off Campus Housing is housing for students that
  is not a University Residence building
• The term student housing only applies to rental
  housing marketed to or designed specifically for
  students there is no legal definition under any
  level of government.

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Average number of university students

• 2,100 Students for 2008/2009

• 800 joint students

Most Mohawk students do not utilize Brantford Off
campus housing

• 1,200 students

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Average number of off campus students

• 2,100 total Students
• minus 450 residence Students
• 1,650

minus 800 commuting students around 850 off
campus students
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Average number of off campus students

• We expect strong enrolment numbers for September
  2009.
• We are expecting about 2300 students. We
  normally expect about 40 of our students to
  require off campus rental housing, so that
  would mean about 920 beds required in the
  community. 

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Where are we going?

• WLU intends to grow to 2500 students by 2011
• Rental housing demand projected to increase with
  this new demand.
• Nipissing and Mohawk each have distinct plans,
  both of which include growth

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Limiting growth factors

• Funding for growth only 1 instance of
  provincial funding to Brantford since recent PSE
  boom 1999-present
• Buildings/property

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Off campus activity

• WLU receives an average of 3 inquires/week re
  OCH investment
• Parents Relatives engaging in process
• Anecdotal evidence suggests 10 of student
  housing is parent-owned
• places4students.com posting s

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Searching

• www.places4students.com

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Searching

• The student housing cycle in terms of activity is
  highest January through March, and at its lowest
  September and October.
• Students generally require housing September
  through April

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The Ideal Unit

• 3-5 bedroom detached property
• Single room
• 350-400/month all inclusive
• Under 15 min walk to campus
• 75 female population

If you would not live in the accommodations
yourself, it should not be rented to students
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Key Physical Characteristics

• 3-5 bedrooms
• Close to campus
• Transportation
• Physical and Fire Safety
• Single/Double Rooms
• Windows
• Square Footage

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Key Leasing Characteristics

• Length of Lease
• Open, 4, 8, 12 months
• Price Point
• 250-600
• Location
• Amenities

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Amenities

• Utilities
• Services
• Cable, Phone, Internet
• Physical Upkeep
• Parking
• Laundry
• Furnishings
• New Paint
• Odor

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Safety

• Considerations
• 1 solid core deadbolts
• Screens
• Windows
• Trimmed bushes and trees
• Lighting
• Timers

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Fire Safety

• Any concerns or questions please call BFD
• Working Smoke Detector on each level
• New batteries with each new tenant
• Fire Extinguisher
• Fire Exits/Doors

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Renting to Millennial students

• New Residential Tenancies Act effective for over
  2 years, January 31st, 2007
• http//www.ontariotenants.ca/law/act.phtml
• Last months rent deposit interest equal to
  Ontario CPI
• Last months rent is the only allowable deposit
• Post dated cheques are negotiable, but not
  mandatory

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Renting to Millennial students

• 24 hour notice to enter rental units
• Units shared with landlord or child of landlord
  not covered under RTA
• Keep Rental Journal, maintenance log

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Millennial Characteristics

• demand a secure, regulated environment
• comfortable w/ technology (email, cell, web) -
  82 online daily
• respectful of norms and institutions
• comfortable with diversity
• disrespectful of authority, but look to adults
  for guidance
• find it hard to work without peers
• goal oriented
• stressed

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Millennial Parents

• Helicopter Parents
• immediate results
• Do not like to disengage from each other
• emotional connection
• co-purchasers
• offer to help manage, like to negotiate
• complex families

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Strategies for Millennial

• Regular, friendly, communication
• Monthly meeting - rent pickup
• Clear and reasonable with expectations and
  promises outside the RTA - put your commitments
  in writing and KEEP THEM!
• SAFE, secure, clean, units
• How you provide it is a good indicator of how you
  expect it returned to you
• Would you want someone you care about living
  there with you as a landlord?

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Strategies for Millennial

• Keep leases simple, and LEGAL
• Thorough and lengthy are okay
• In conversational English
• Promises in writing, and follow through (or
  explain and discuss solution)
• Accept that parents want to be involved, and work
  with them
• - they can be an asset

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Insurance

• Peter Neziol, The Neziol Group
• Pjneziol_at_neziol.com
• 877-828-9941

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Organizations

• Brant County Landlords Association
• Brantford Town Gown Committee
• Town Gown Association of Ontario
• Ontario Association of College University
  Housing Officers

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Useful Links

• Municipal Affairs and Housing
• www.mah.gov.on.ca
• Town Gown Association of Ontario
• www.tgao.ca
• Brant County Landlords Association
• kathyr_at_execulink.com

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Useful Links

• OACUHO
• www.oacuho.on.ca
• Office of the Ontario Fire Marshall
• www.ofm.gov.on.ca
• Off Campus Housing Website
• www.brantford.mylaurier.ca/offcampus
• City of Brantford Fire Department
• 519-752-0540

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The Experience
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Big Thanks To

• Mark Taylor
• and
• David Prang

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Questions