How to
How to Market Your Property to Student Tenants on Elev
Oct 30, 2023
•
Kevin Mpunga
Picture this: You've got a great property, ideally located and well-maintained. Now, you're looking to fill it with tenants—specifically, students. But how do you make your listing pop on an app that's teeming with options? Welcome to the ultimate playbook for Canadian landlords looking to attract student renters.
Close to School: The Golden Ticket
Let's start with the basics. If your property is close to a university or college, you've got a golden ticket. Students value proximity to their educational institutions for obvious reasons—convenience, safety, and reduced transportation costs. Make sure to highlight this in your listing. Use phrases like "5-minute walk to campus" or "direct bus route to university" to immediately draw their attention to questions they may have about the property.
What to Highlight About My Property: The Amenities Game
Students are looking for more than just a roof over their heads. They want amenities that make their lives easier and more enjoyable. Think high-speed Wi-Fi, laundry facilities, or a communal study area. Highlighting key amenities can set your property apart from the rest.
How to Price for Students in Canada: The Budget Equation
Students operate on a budget, and rent is often their most significant expense. This price, when set fairly for the value your room or unit provides, will make you stand out. Research the average rent for similar properties in your area and consider offering a slight discount to attract more inquiries. Remember, a rented property at a slightly lower rate is better than an empty one at a high rate.
Student Budget for Renting: Know Their Limits
Understanding the student budget for renting can give you an edge. Here's a breakdown of average monthly rents for 1 bedroom student units in different provinces:
Alberta: $700 - $1,200
British Columbia: $800 - $1,400
Manitoba: $600 - $1,000
Saskatchewan: $600 - $1,000
Ontario: $800 - $1,500
Newfoundland: $500 - $900
Utilities Included vs. Not Included
Utilities Included: If utilities are included, consider adding an additional $50 - $150 to the higher end of the average rent range for your province. This can make your property more attractive as it simplifies budgeting for students.
Utilities Not Included: If utilities are not included, aim for the lower to mid-range of the average rent for your province. This allows students to budget for utilities separately and can make your property more appealing to budget-conscious renters.
Advertising Student Accommodation: The Digital Frontier
You're using an app to connect with potential tenants, which is a great start. But how do you make your listing stand out? High-quality photos are a must. Consider creating a virtual tour or a short video showcasing the property. Use bullet points for easy readability, and don't shy away from emojis—they speak the student language.
How to Attract Student Renters: The Extra Mile
Sometimes it's the little things that make a big difference. Offering a 'welcome package' with basic supplies like toilet paper and cleaning products can make a great first impression. Small gestures can go a long way in attracting and retaining student renters.
Conclusion: Your Marketing Toolkit, Upgraded
Marketing your property to students is both an art and a science. It's about understanding their needs, using your listing description to provide in depth detail about what your room or unit provides, and offering them value they can't resist. From leveraging the proximity to educational institutions to highlighting key amenities and pricing it just right, every detail counts.
So go ahead, implement these strategies on Elev and watch the viewings come in.
Picture this: You've got a great property, ideally located and well-maintained. Now, you're looking to fill it with tenants—specifically, students. But how do you make your listing pop on an app that's teeming with options? Welcome to the ultimate playbook for Canadian landlords looking to attract student renters.
Close to School: The Golden Ticket
Let's start with the basics. If your property is close to a university or college, you've got a golden ticket. Students value proximity to their educational institutions for obvious reasons—convenience, safety, and reduced transportation costs. Make sure to highlight this in your listing. Use phrases like "5-minute walk to campus" or "direct bus route to university" to immediately draw their attention to questions they may have about the property.
What to Highlight About My Property: The Amenities Game
Students are looking for more than just a roof over their heads. They want amenities that make their lives easier and more enjoyable. Think high-speed Wi-Fi, laundry facilities, or a communal study area. Highlighting key amenities can set your property apart from the rest.
How to Price for Students in Canada: The Budget Equation
Students operate on a budget, and rent is often their most significant expense. This price, when set fairly for the value your room or unit provides, will make you stand out. Research the average rent for similar properties in your area and consider offering a slight discount to attract more inquiries. Remember, a rented property at a slightly lower rate is better than an empty one at a high rate.
Student Budget for Renting: Know Their Limits
Understanding the student budget for renting can give you an edge. Here's a breakdown of average monthly rents for 1 bedroom student units in different provinces:
Alberta: $700 - $1,200
British Columbia: $800 - $1,400
Manitoba: $600 - $1,000
Saskatchewan: $600 - $1,000
Ontario: $800 - $1,500
Newfoundland: $500 - $900
Utilities Included vs. Not Included
Utilities Included: If utilities are included, consider adding an additional $50 - $150 to the higher end of the average rent range for your province. This can make your property more attractive as it simplifies budgeting for students.
Utilities Not Included: If utilities are not included, aim for the lower to mid-range of the average rent for your province. This allows students to budget for utilities separately and can make your property more appealing to budget-conscious renters.
Advertising Student Accommodation: The Digital Frontier
You're using an app to connect with potential tenants, which is a great start. But how do you make your listing stand out? High-quality photos are a must. Consider creating a virtual tour or a short video showcasing the property. Use bullet points for easy readability, and don't shy away from emojis—they speak the student language.
How to Attract Student Renters: The Extra Mile
Sometimes it's the little things that make a big difference. Offering a 'welcome package' with basic supplies like toilet paper and cleaning products can make a great first impression. Small gestures can go a long way in attracting and retaining student renters.
Conclusion: Your Marketing Toolkit, Upgraded
Marketing your property to students is both an art and a science. It's about understanding their needs, using your listing description to provide in depth detail about what your room or unit provides, and offering them value they can't resist. From leveraging the proximity to educational institutions to highlighting key amenities and pricing it just right, every detail counts.
So go ahead, implement these strategies on Elev and watch the viewings come in.
Picture this: You've got a great property, ideally located and well-maintained. Now, you're looking to fill it with tenants—specifically, students. But how do you make your listing pop on an app that's teeming with options? Welcome to the ultimate playbook for Canadian landlords looking to attract student renters.
Close to School: The Golden Ticket
Let's start with the basics. If your property is close to a university or college, you've got a golden ticket. Students value proximity to their educational institutions for obvious reasons—convenience, safety, and reduced transportation costs. Make sure to highlight this in your listing. Use phrases like "5-minute walk to campus" or "direct bus route to university" to immediately draw their attention to questions they may have about the property.
What to Highlight About My Property: The Amenities Game
Students are looking for more than just a roof over their heads. They want amenities that make their lives easier and more enjoyable. Think high-speed Wi-Fi, laundry facilities, or a communal study area. Highlighting key amenities can set your property apart from the rest.
How to Price for Students in Canada: The Budget Equation
Students operate on a budget, and rent is often their most significant expense. This price, when set fairly for the value your room or unit provides, will make you stand out. Research the average rent for similar properties in your area and consider offering a slight discount to attract more inquiries. Remember, a rented property at a slightly lower rate is better than an empty one at a high rate.
Student Budget for Renting: Know Their Limits
Understanding the student budget for renting can give you an edge. Here's a breakdown of average monthly rents for 1 bedroom student units in different provinces:
Alberta: $700 - $1,200
British Columbia: $800 - $1,400
Manitoba: $600 - $1,000
Saskatchewan: $600 - $1,000
Ontario: $800 - $1,500
Newfoundland: $500 - $900
Utilities Included vs. Not Included
Utilities Included: If utilities are included, consider adding an additional $50 - $150 to the higher end of the average rent range for your province. This can make your property more attractive as it simplifies budgeting for students.
Utilities Not Included: If utilities are not included, aim for the lower to mid-range of the average rent for your province. This allows students to budget for utilities separately and can make your property more appealing to budget-conscious renters.
Advertising Student Accommodation: The Digital Frontier
You're using an app to connect with potential tenants, which is a great start. But how do you make your listing stand out? High-quality photos are a must. Consider creating a virtual tour or a short video showcasing the property. Use bullet points for easy readability, and don't shy away from emojis—they speak the student language.
How to Attract Student Renters: The Extra Mile
Sometimes it's the little things that make a big difference. Offering a 'welcome package' with basic supplies like toilet paper and cleaning products can make a great first impression. Small gestures can go a long way in attracting and retaining student renters.
Conclusion: Your Marketing Toolkit, Upgraded
Marketing your property to students is both an art and a science. It's about understanding their needs, using your listing description to provide in depth detail about what your room or unit provides, and offering them value they can't resist. From leveraging the proximity to educational institutions to highlighting key amenities and pricing it just right, every detail counts.
So go ahead, implement these strategies on Elev and watch the viewings come in.