Are you a landlord to be searching for a student rental investment in Hamilton?
This post will briefly describe the student rental market in Hamilton and how you as an investor and landlord to be can choose which area you would like to invest in.
Hamilton, Ontario makes a perfect City to invest in student rentals because of two post-secondary institutions – Mohawk College & McMaster University as well as many hospitals. Hamilton’s proximity to Toronto, Oakville, Mississauga and Burlington also make Hamilton a great choice, in fact someone living in Etobicoke can make it to Hamilton (traffic depending) in approximately 35-45 minutes as it is only 55 KM away and a straight drive down the QEW to the 403. See for yourself by using Google Directions: https://www.google.ca/search?q=google+directions you can type in your address and a prospective property to see how long it would take you to visit.
Up The Mountain Student Rentals
Student rental houses which are located on the top part of Hamilton also known as “up the mountain” are the properties located in around Fennell Avenue West, Garth Street, Upper Wellington Street and Mohawk Road West. Houses purchased in these areas for investment are geared towards Mohawk College students as well as people working and studying with the three hospitals in the area. Depending on the proximity to each institution the closer the property typically higher the rents but also higher the purchase price. To view what houses in this area rent for please refer to this link:
Below The Mountain Student Rentals
Student Rentals in this area are for students attending McMaster University in Hamilton. These properties are located in an area known as Westdale which is immediately East of the University, properties which are South of Main Street West as well as streets West of Cootes Drive. Typically, the Westdale area is most sought after due to the very close proximity to the school, convenient stores and many large 2.5 storey brick houses in the area. This area also tends to be the most expensive with many houses as of 2017 starting at six hundred thousand dollars or higher range. The area South of Main Street West is also a very popular area to purchase student rentals but rents will go down the further walk away from the school. For instance, a house located at the bottom of Bowman Street will take a student approximately twenty minutes of walking just to reach Main Street West. To view what houses in the area rent for please refer to this link:
Although, this just being a quick overview, we invite you to see some of our other articles which may help you in understanding and analyzing potential properties to purchase
Related Student Rental Articles:
- 4 steps to Investing in the Student Rental Market
- How to get the most out of your rental Properties
- Why Investing in Ontario Student Rentals Might Be A Good Investment
- What to Look for When Buying a Student Rental in Order to Keep Insurance Cost Down
Student Rental Insurance Hamilton
Humberview Insurance has been providing student rental insurance in Hamilton for over 35 years. We have partnered with Canadian insurance companies to provide flexible and comprehensive insurance policies for landlords like you.
When comparing insurance coverage ask these questions.
- What limit of building coverage am I getting?
- What type of coverage is on the building?
- Is this a Canadian insurance company or an overseas insurance company?
- Other than building coverage, what other coverages am I getting?
- Are any factors of my property limiting my insurance coverage or increasing the price I am paying for coverage?
- Can I pay the full amount by credit card?
- Can I pay the amount monthly?