Hi all,
I've recently been looking at the possibility of purchasing a 2BR apartment in Burwood. Having had a look at the vacancy rates for the area (here), It's pretty clear that it becomes a bit of a dead town after Uni is over for the year (Dec-Feb).
Does anyone have any experience with renting out property to Uni students? How many weeks do you factor in for having no tennant? This would be my first IP, I'm after a not so risky property...
I'm still tossing up between an area such as this, and a Unit/House in Bayswater/Ferntree Gully/Wantirna....I would be living in the building for at least 12 months. I have a maximum of 460k I'm willing to spend, but would rather keep that down so I wont have too much trouble servicing both the IP and my next PPOR.
Thanks in advance
I've recently been looking at the possibility of purchasing a 2BR apartment in Burwood. Having had a look at the vacancy rates for the area (here), It's pretty clear that it becomes a bit of a dead town after Uni is over for the year (Dec-Feb).
Does anyone have any experience with renting out property to Uni students? How many weeks do you factor in for having no tennant? This would be my first IP, I'm after a not so risky property...
I'm still tossing up between an area such as this, and a Unit/House in Bayswater/Ferntree Gully/Wantirna....I would be living in the building for at least 12 months. I have a maximum of 460k I'm willing to spend, but would rather keep that down so I wont have too much trouble servicing both the IP and my next PPOR.
Thanks in advance
