select
|

Time to add your name to student accommodation waiting list

Being a sought after university town, Stellenbosch is fast approaching the time of year for registrations – which is also a time when student accommodation is in demand for the following academic year, and subsequent years of the study period.


Ideally suited for student accommodation, one bedroom, one bathroom apartments in the suburb of Die Weides in Stellenbosch can fetch rentals of R6 800 per month.
 
Says Louise Varga, area manager for Pam Golding Properties in Stellenbosch and Somerset West: “Stellenbosch has always enjoyed a strong demand for rentals thanks to its ever-renewing student population. Currently there are some 35 000 students attending the university, a number likely to increase in the future.”
 
An example of student accommodation units in high demand - and achieving excellent returns on investment for landlords/owners is Andringa Walk. In this modern apartment complex, just a few minutes’ walk from the university campus - through Pam Golding Properties, an unfurnished two bedroom apartment achieves a monthly rental of an average of R12 500 and even as much as R18 000 per month for a furnished apartment.


Centrally located two bedroom, two bathroom apartments have the potential to achieve rentals of R8 000 to R9 000 for use as student accommodation.
 
“In 2015 on average a bachelor apartment in Andringa Walk commands rental income of R7 700 per month and a one bedroom unit R8 500 per month. The closer the proximity of the accommodation is to campus, the higher the demand and therefore the rental,” she says.
 
Varga provides some useful advice for parents seeking student accommodation: “Firstly, if you have a child who is going to attend Stellenbosch University, it is advisable that you put your name on a waiting list in August or September or as soon as you know he or she is going to Stellenbosch.  Rental contracts for student accommodation run from 1 December to 30 November, and most rental contracts state that if you are not going to renew they require you give one calendar month’s notice. As a result, we generally only know in November if we have stock, although we do ask clients to advise us in September or the moment they know they are not going to renew the contract.


Ideal for student accommodation – a typical example of two bedroom, one bathroom apartments in central Stellenbosch which have the potential to achieve student rentals at R7 250 per month.
 
“As each year we have a waiting list of those wanting student accommodation, we don’t need to advertise the available accommodation.  So if you are not already on a waiting list and wait till about the end of November your choice will be from what is left over,” she says.
 
“As a parent, establish what kind of agreement you have with the estate agency dealing with the student accommodation. This is because a rental agent receives different mandates from landlords. This may be a procurement mandate to find tenants – in which case that is all the agency does, namely finds the tenant/s, and the landlord manages the apartment. If you rent student accommodation where the landlord has given the agency a procurement mandate, then the deposit is paid directly to the landlord and the agency is not further involved. Neither will the agency conduct any ingoing or outgoing inspection. So if the geyser for example, bursts the tenant needs to contact the landlord as the accommodation is not managed by the agency.


An example of units which can be used for student accommodation. Centrally situated, two bedroom, two bathroom apartments which are ideal for use as student accommodation can fetch R9 500 per month.
 
“In the instance of a managed mandate, then the agency does conduct an ingoing and outgoing inspection, and the deposit and the rental is collected by the agency on behalf of the landlord.

As a result of there being different types of contracts, it is important that you, the tenant/parent, ensure you know who you need to deal with,” adds Varga.



  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 18 Jan 2018
      The Southern Suburbs make up some of the most popular residential areas in Cape Town, comprising charming groups of suburbs which lie to the south-east of the slopes of Table Mountain. It is seen as the city's most expensive residential neighbourhoods with a choice of various private schools, upmarket eateries, wine estates, beautiful homes and trendy apartments.
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK