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
Characters remaining

    Latest Property News
    • 20 Mar 2018
      Located close to the fast growing Fourways precinct, Dainfern continues to attract local and international interest from buyers seeking a secure lifestyle with affordable entry price of approximately R3 million.
    • 20 Mar 2018
      Property owners in the Durban CBD are addressing the affordability challenge that faces many prospective tenants in their area – and reconfiguring the inner city rental market in the process.
    • 20 Mar 2018
      One of the most misunderstood concepts in the process of selling a property is an exclusive or sole mandate.
    • 19 Mar 2018
      If a landlord opts to use a managing agent for the rental of his or her property, the inspection process can be easier as the agent is not emotionally involved and will certainly have concluded an in-depth inspection report in the interests of all parties.
    • 19 Mar 2018
      We all wish we could have the cheat sheet for selling a property – a simple Ctrl+Shift+C code that will magically secure an offer on your home in an instant. Though it is not possible to provide you with this cheat code (sadly, reality does not come with such perks), it is possible to provide you with a list of the most common blunders some of your neighbours have committed in their efforts to sell their homes
    • 19 Mar 2018
      Although property technology is now widely accepted as an established trend, especially in the international real estate arena, the industry has been cautious to advance and smaller markets like South Africa are still hesitantly dipping their toes in the water.
    • 16 Mar 2018
      Strange as it may seem, there is a stock shortage looming now in the luxury sector of the Johannesburg property market, because astute buyers have for the past few months been hurrying to snap up high-end homes being offered at excellent prices.
    • 16 Mar 2018
      No one likes having to claim but having insurance for your household contents is vital, and at the start of a new financial year, homeowners either applying for new household insurance or revising their existing insurance should take a comprehensive inventory of their possessions and keep track of the total value.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us