It is also a target destination for students as Delhi shelters numerous colleges and universities offering vast range of academic and professional courses as well as job aspects. So renting out residential property to students can be a really good and wise option.
Some of the best colleges and institutions are found in South Delhi. Rental apartments and rental house are plenty available. But there are not plenty options for students to rent property other than staying as paying guests. But a lot of people, especially young people, hence the students like their own privacy and prefer staying alone or with one or two friends and roommates. They are the prospective tenants for following available property options - the rental house as well as the furnished apartments available for rent. Renting accommodations to students can be a sound option as the landlord can put more tenants into a single property as students stay with roommates, sharing their cupboards, kitchen and toilet. It is more profitable than renting to a single tenant or family. Students tend to be comparatively a lot less picky than professional tenants.
They are able to tolerate small and obsolete kitchens and bathrooms than regular tenants. Also the student tenants pay rent on their parents’ expenses, who are mostly in working and earning conditions. Hence there is less trouble about the rent payment. Dealing with these students and sorting out problems are also easier. A huge part of the students coming in Delhi are migrating from different states of India; so they cannot be fully reliable as the landlord knows nothing about them. Therefore all agreements should be in writing, and one should keep in mind that the students are also like his other regular tenants, not his friends. It is important to keep the relation strictly professional. In addition to all these, to get the good student tenants one is to make it affordable as well as profitable.
Every year the number of students applying for higher education in colleges is increasing, new institutions and colleges are being established in both Delhi as well as all over India. South Delhi is regarded as the most well off and comfortable of all housing areas of Delhi. Some of the chic residential areas like Greater Kailash, Alakananda, Defence Colony, Vasant Kunj, Hauz Khas etc are situated there. Though a rental house in those upscale places can be a bit expensive; but if rented out to a small group of students, the rent being divided among becomes smaller in amount and they can pay off easily. Also cheaper accommodations like one or two bedroom apartments, small studio apartments and a little less cheap yet not expensive options like a furnished one, especially in areas like Govindpuri, Lajpat Nagar, the district of Siri are available.
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Renting Your Residential Property to Students – A Sound Opti