Delhi as a city is blessed with the best and the most prestigious institutions in the country. And students from all across the globe come to Delhi to study as well, including domestic students too. This is also one of the major reasons why many landlords are looking at renting out their properties to students. But then there are certain things to know off before you allow students to live in your premises as tenants. And today we shall tell you about the pros and cons for the same. Hence please read on and be well informed.
The pros of allowing students in your residential properties as tenants
1.You can have more students in one flat, for example in a 2BHK you can have 4 students sharing two rooms or even six where two would use the hall as accommodation. You can charge per student and this would mean more money in your pocket. But if you rent the same rental house in Delhi/ South Delhi to a family or a professional, the income would be fixed and low.
2.Students wouldn’t be too fussy and demanding about the house or locality. They easily adjust and would be happy as long as they can commute wherever they want to go, bus stops should be close by that’s it. Students wouldn’t mind if the kitchens and the bathrooms are not state of the art or if the house is furnished or not. Plus they are helpful to landlords and they are handy too. And they pay house rents in advance, and wouldn’t make a fuss when they have to leave.
The cons of allowing students in your residential properties as tenants
1.Get in touch with the institution around to know what their dropout rates are. This is important since the student you allow as a tenant could leave anytime, leaving you high and dry with an empty home. And moreover, he shouldn’t be subletting the flats for rent to other students when he isn’t around. There are builder organizations making new student houses across Delhi, and if the prices there are cheaper than what you offer, the student would walk away half way through.
2.It is not always the case of the more the merrier when it comes to renting out to many students to stay in the rental flats. Wear and tear, replacing carpets and furniture, painting now and then, all of this would eat into your pockets. Maintenance would be high if the students don’t bother to take care of the house as their own.
So these are all the pros and cons which you need to think of before allowing students as tenants in the flats you own. Think about this, because you could earn high from students, but there are cons too.
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Letting Out Your Residential Properties to Students