Am looking at a student accomodation property and have a few queries.
Firstly - Insurance. Does standard insurance cover this or do you need rental insurance for each room. Also what about common areas?
Management - can this be handled by RE agents? This will be a distant ownership so someone closer needs to look after it. Also if each room is rented, who is responsable for the common areas ie lounge, kitchen, grounds?
Hi cash flow, but is it high maintenance?
Is is more of a commecial type buy where rent sets the purchase price rather than comperable sales?
What state (QLD) and council (Brissy) laws apply? Is it classed as a boarding house? This property has 9 bedrooms, 4 bathrooms and 3 kitchens (love the dep write off!)
What are others experience with student accomodation, positive or negative.
Firstly - Insurance. Does standard insurance cover this or do you need rental insurance for each room. Also what about common areas?
Management - can this be handled by RE agents? This will be a distant ownership so someone closer needs to look after it. Also if each room is rented, who is responsable for the common areas ie lounge, kitchen, grounds?
Hi cash flow, but is it high maintenance?
Is is more of a commecial type buy where rent sets the purchase price rather than comperable sales?
What state (QLD) and council (Brissy) laws apply? Is it classed as a boarding house? This property has 9 bedrooms, 4 bathrooms and 3 kitchens (love the dep write off!)
What are others experience with student accomodation, positive or negative.