Student rental Dunedin?

[brybaby]

Hi, I've been looking through the threads and have been very impressed at the willingness of people to share knowledge, so here's a request for advice.

We're considering buying a student rental in Dunedin. Our son is in a Hall of Residence there and will be flatting next year with friends. We're thinking that buying a student rental might be a good way of getting into property investment (we've been considering it for a while but admit we haven't got off our bums and taken action) as well as helping him and his friends find a decent place to live (as we would look for a modern, warm place). We live in Wellington and we're really looking for a way to get started - want to buy more places if the first one goes well. So we're wondering in the present climate,
- is a Dunedin student rental a good investment / starter, and
- given we're in wgtn and not Dunedin how realistic is it?

Any advice appreciated.

[Nick G]

I have a student rental in Wellington and a second one I'm doing DD on and hope to buy. Management is everything. If you have a great PM you can invest from the other side of the world safely.

You could also simply help him rent a warm dry house and buy in Wellington, which you know.

[brybaby]

Thanks Nick, food for thought and I appreciate your input. Interested to hear more experiences from anyone who has student rentals, either in Dunedin or elsewhere.

[Jamus]

I have student rentals in Wellington and they are great.I keep them in good nick and they are not your typical cold damp student flat.
I have never had a problem in 5years, they rent out quickly and easily and give great return.
Typically students don't tell you if something is wrong so I generally drop a txt once a month and check all is good.I also drive by two of them daily on my way to work so can get a handle on the amount of partying happening by the state of the recycle bins.
I try to rent to 3rd year and post grad students who have got the first two years partying a little out of their system as well(not saying they don't party but not as full on by third year!)

[JBM]

I see Dunedin still have over 1000 vacant rental properties ....

...that's many investors not living the dream of property ownership