I have a professionally managed new centrally located 2 bed flat in an apartment complex in a UK university town which is let to professional couples with no vacancies or problems ever. It rents at NZ$648pw.
About half of the apartments in the complex (all identical to mine) have been converted into 3bdrm apartments by putting a wall down the middle of the living room to change it into a small bedroom and small living room - these are all let by UK university students. The rent is NZ$799 pw. There is not usually a problem finding students, although occasionally there has been the odd week or 2 of vacancies in a handful of those converted apartments.
It would cost me NZ$8640 to have my 2bdrm converted to 3bdrm
I plan to keep the property indefinitely.
Is it a good idea for me to have the flat converted to 3 bdrms or not?
About half of the apartments in the complex (all identical to mine) have been converted into 3bdrm apartments by putting a wall down the middle of the living room to change it into a small bedroom and small living room - these are all let by UK university students. The rent is NZ$799 pw. There is not usually a problem finding students, although occasionally there has been the odd week or 2 of vacancies in a handful of those converted apartments.
It would cost me NZ$8640 to have my 2bdrm converted to 3bdrm
I plan to keep the property indefinitely.
Is it a good idea for me to have the flat converted to 3 bdrms or not?
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