Canadian Homeowners and Property Investors Target Student Housing and Post-Secondary Student Residences Close To Campus Throughout Canada Real Estate

Student Housing – What You Need To Now as a Property Owner or Investor – Renting Your Condos or Homes for Students

A growing sector of the property investment industry is gearing towards students attending colleges and universities. Post-secondary educational institutions are growing and opening new campuses everywhere it seems, but student residences on campus are not. There is a growing need for more student housing, and this is where property investors and owners can get creative with gearing their rentals towards students who need clean and affordable suites to rent. There are several ways to select a student rental town to invest in real estate that includes approximately six comparisons between each town or city. The first thing you should look at in terms of investing in property for student housing is growth. Look for universities and colleges that are expanding and are increasing their enrollment. In most cases, the colleges are not building new student residences, and therefore, there will be growing need to house these new students moving into the city. Secondly, check the plans for new residences, as if the university or college is planning on building residences on campuses, student housing outside of the grounds may not be as attractive. Thirdly, check to see how many schools there are. Ideal locations have multiple post-secondary institutions in the same community, increasing the inflow of people looking for student housing in the area. Complementary markets is another factor in selecting the university town to invest in real estate. Relatively stable industry and economic fundamentals to complement the student target market, in case you want to sell your student housing unit. Proximity is another key factor as your student housing suite should be close to schools, transit, shopping and entertainment and also to major cities. Lastly, when selecting a town to invest in student housing and residences, look at the nearby amenities that include number of bedrooms, bathrooms and parking spaces.

Expansion of Universities and Colleges Is Seen Throughout Canada and Therefore, There is a Growing Need for Affordable and Convenient Student Housing

Here is a selection of the newest colleges and university expansions throughout the country that will heavily influence the number of students requiring residences and affordable housing.

University of Victoria – Victoria, BC
$67 million construction of a science building, including the building of two equipped lecture theatres completed in 2008.

UBC-Okanagan Campus – Kelowna, BC
$74 million construction of 200,000 square feet engineering and management building to include various laboratories, classroom and conference space completed in 2008.

Malaspina University College – Nanaimo, BC
$67 million expansion and renovation of library, new student residences, faculty of management building, science centre and redevelopment of western campus completed in 2008.

University of Alberta – Edmonton, AB
$312 million construction of the Centennial Centre for Interdisciplinary Science to replace buildings in the physics department and house faculty of science with completion in November 2009.

University of Alberta – Edmonton, AB
$185 million construction of a student focused teaching and research centre in health sciences at Edmonton Clinic North with completion in 2012.

Red Deer College – Red Deer, AB
$77 million expansion for trades, technology, innovation, manufacturing and sports and health eduction, accommodating 3,000 additional students.

McGill University – Montreal, PQ
$73 million expansion of Life Sciences Complex, including cancer research and animal health centre for completion in 2008.

Nova Scotia Community College – Dartmouth, NS
$123 million project includes a new campus on the Darmouth waterfront, designed to accommodate 1,800 students in a 267,000 square foot building with completion in 2009.

School of Real Estate – Seneca College and York University Offering Real Property Administration and Development MBA Programs

With the expansion of colleges and universities across Canada, increasing enrollment and the value of real estate as an investment becoming more appreciated by today’s youth (Canadian Real Estate, March 2009), it shouldn’t come as a surprise that real property management and infrastructure education programs are finding their ways into more and more curriculums. At Seneca College in Toronto, for example, the two year Real Property Administration diploma program has a placement rate of 100%, the school says. About 40 students fill the full-time program, and another 20 students enroll in the accelerated eight month program at Seneca College called the Real Property Administration diploma in Troonto, designed for those who already have a degree or diploma. At the graduate level, York University of Toronto now offers a Real Property Development MBA program through its renowned Schulich School of Business.