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Author Buying a House and Renting it out (Ally in here)
gianluigi
Member

Registered: 9th Mar 05
Location: Ipswich, Suffolk
User status: Offline
30th Mar 06 at 09:38   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Cosmo
is £300 a month each a realistic amount?


my mate pays £86 a week for his room in the halls at his uni.

this is a cue for all the uni stundents to post thier monthly rent
CCA
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Registered: 6th Dec 04
Location: Somewhere Drives: Not a bloody Vauxhall!
User status: Offline
30th Mar 06 at 09:39   View User's Profile U2U Member Reply With Quote

Would your £300 a month per person include all their bills minus food?
Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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30th Mar 06 at 09:40   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by gianluigi
quote:
Originally posted by Cosmo
is £300 a month each a realistic amount?


my mate pays £86 a week for his room in the halls at his uni.

this is a cue for all the uni stundents to post thier monthly rent


Im guessing thats bills and stuff all in? Is he in one that provides food aswell?

Im just going off rental prices by me...£1200 would get you a very very nice 3bed apartment. £900 could get you a nice 3bed apartment. Both would be new (or few yrs max) and be right in the centre walking distance to the Uni and in a very good area.
gianluigi
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Registered: 9th Mar 05
Location: Ipswich, Suffolk
User status: Offline
30th Mar 06 at 09:41   View User's Profile U2U Member Reply With Quote

i dont know, i guess so. i haven't researched anything yet. waht you think is a suitable price?
gianluigi
Member

Registered: 9th Mar 05
Location: Ipswich, Suffolk
User status: Offline
30th Mar 06 at 09:42   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Cosmo
quote:
Originally posted by gianluigi
quote:
Originally posted by Cosmo
is £300 a month each a realistic amount?


my mate pays £86 a week for his room in the halls at his uni.

this is a cue for all the uni stundents to post thier monthly rent


Im guessing thats bills and stuff all in? Is he in one that provides food aswell?

Im just going off rental prices by me...£1200 would get you a very very nice 3bed apartment. £900 could get you a nice 3bed apartment. Both would be new (or few yrs max) and be right in the centre walking distance to the Uni and in a very good area.


no, he buys his own food.
Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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30th Mar 06 at 09:42   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by gianluigi
i dont know, i guess so. i haven't researched anything yet. waht you think is a suitable price?


no idea! Depends on the area, quality of house, etc. Go on a few estate agents websites for the area you'd look at getting the house and see whats going for what on there.
CCA
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Registered: 6th Dec 04
Location: Somewhere Drives: Not a bloody Vauxhall!
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30th Mar 06 at 09:43   View User's Profile U2U Member Reply With Quote

at uni you'd get your own room and toilet/shower (if your lucky) and then just share the communal kitchen/living room area with say 4 other people so for £300 a month in a house there would need to be maybe 2 bathrooms and it would need to be quite a spacious place to accomadate 4 students
gianluigi
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Registered: 9th Mar 05
Location: Ipswich, Suffolk
User status: Offline
30th Mar 06 at 09:47   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by CCA
at uni you'd get your own room and toilet/shower (if your lucky) and then just share the communal kitchen/living room area with say 4 other people so for £300 a month in a house there would need to be maybe 2 bathrooms and it would need to be quite a spacious place to accomadate 4 students


i dont know how much my sister pays, but she's in norwich and she lived in a horrible, cramped small dingey dive. its not nice at all, but thats what the students make it. so i dont have to look for a luxury 3 bed, something basic i wpuld have thought
CCA
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Registered: 6th Dec 04
Location: Somewhere Drives: Not a bloody Vauxhall!
User status: Offline
30th Mar 06 at 09:49   View User's Profile U2U Member Reply With Quote

If you aimed for second year students you could make it a decent standard. You'd also need to look into whether you would make their lease 6 months or a year as some students go home for the holidays.
John_C
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Registered: 5th Mar 03
Location: South east, Bromley
User status: Offline
30th Mar 06 at 12:24   View User's Profile U2U Member Reply With Quote

prob make it a 10-11 months tenancy. to cover urself. sum students will pay up front. quite a cash rich market.

have to look into new hmo rules. cud cost a £1000 a license.

BlueCorsa
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Registered: 14th Jan 04
Location: Midlands Drives: MB SLK250 CDI
User status: Offline
30th Mar 06 at 20:11   View User's Profile U2U Member Reply With Quote

£300 seems like a hell of a lot - it's not much more expensive than that for student houses in London. You want to get somewhere which is 'just habitable' - no point 'buying' a nice place or a shitter and doing it up - cos you'll risk it getting fucked up by your student tenants.
Rob_Quads
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Registered: 29th Mar 01
Location: southampton
User status: Offline
30th Mar 06 at 21:44   View User's Profile U2U Member Reply With Quote

Its possible to make money but its also possible to loose money. Students are a risky area to go into. The house will need frequent overhaulin and if you get 1 bad year in it could destroy the profits of the last 2/3/4 years!!

Getting into this market 2/3 years ago was a major advantage to going on now due to the price rises recently.
Tom J
Organiser: South Wales
Premium Member


Registered: 8th Sep 03
Location: Bridgend
User status: Offline
30th Mar 06 at 23:47   View User's Profile U2U Member Reply With Quote

i pay 50 quid a week (200 quid a month) living in a house of 8, excluding bills and food. House has 2 bathrooms and 2 cookers, 2 sinks etc (legal requirements for that many students)
However this is in Swansea, i've heard from mates places like Bristol and Cheltenham are like 60quid a week average rent exc bills

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