If you find your Saanich street suddenly vacant in the coming weeks, donB次元官网网址檛 panic B次元官网网址� itB次元官网网址檚 not the plague. The university students have all just gone home.
But the reality facing many students whoB次元官网网址檝e lived off campus for the last eight months is many signed a one-year lease last September, leaving them on the hook to pay rent through the summer.
Rebecca Koch pays $550 a month to live in a four-bedroom house just steps from the University of Victoria on the Gordon Head-Cadboro Bay border.
The 20-year-old who is studying business is banking on finding a summer student to sublet her room for the remainder of the lease. Koch is going home to the Lower Mainland in May and wonB次元官网网址檛 be returning.
But finding a replacement tenant is proving tougher than she thought. So tough, in fact, sheB次元官网网址檚 decided to rent for cheaper than what she pays.
B次元官网网址淚B次元官网网址檓 completely willing to go down $100 a month, as long as someone takes over my lease,B次元官网网址� Koch said, acknowledging sheB次元官网网址檇 rather pay the difference than the full rate for an empty bedroom. B次元官网网址淚tB次元官网网址檚 hard because thereB次元官网网址檚 so many students (in the same situation I am), and so little demand for any of the houses.B次元官网网址�
ItB次元官网网址檚 the same story for Sarah Hein, who, along with her four other roommates, is looking to sublet all five rooms in their rented house for the summer.
They, too, are trying to get their place rented in the short-term by offering a $125 per month discount per person on rent.
B次元官网网址淲hat actually has been a big problem is people want the place for longer. They want it for next year, too,B次元官网网址� said the 20-year-old Hein, a third-year applied linguistics student.
According to numbers from the Canada Mortgage and Housing Corporation, VictoriaB次元官网网址檚 rental vacancy rate typically goes up in April.
B次元官网网址淭hereB次元官网网址檚 many factors that influence movement in and out of the rental market, and you would expect that students moving out of rental units, that would free up some spots,B次元官网网址� said Carol Frketich, B.C. regional economist with CMHC.
Seventy per cent of UVicB次元官网网址檚 population B次元官网网址� or 16,199 students B次元官网网址� arenB次元官网网址檛 originally from Greater Victoria, while Camosun College sees 17 per cent of its students (2,210) come from outside of the Capital Region. Both post-secondary institutions are now in their final exam periods, which means an exodus of students from now until the end of April.
A spokesperson with the Residential Tenancy Branch said students should do their homework before accepting a subtenant.
B次元官网网址淏e sure that your tenancy agreement allows you to sublet,B次元官网网址� the spokesperson said first and foremost, and get your landlordB次元官网网址檚 permission in writing.
Other suggestions include asking prospective subtenants for references B次元官网网址� and checking them out. B次元官网网址淚s the tenant who they say they are? Is the tenant able to pay the rent? Is the tenant reliable? How likely is the tenant to be noisy or to disturb other occupants of the building?B次元官网网址�
Write up a subletting agreement, and conduct a move-in inspection with the subtenant you choose.
B次元官网网址淏e clear about when rent is due, and who it should be paid to. Have a contingency plan in case the subtenant doesnB次元官网网址檛 pay on time,B次元官网网址� the spokesperson said. B次元官网网址淔ind out what the tenant plans to do when the sublet is over. Is the tenant likely to leave when you (want them to)?B次元官网网址�
kslavin@saanichnews.com
Tips for subleasing
Make sure your subtenant:
B次元官网网址� knows when they must move out;
B次元官网网址� knows what the rental unit comes with (Are utilities included? Is the room furnished?);
B次元官网网址� knows how to contact you and your landlord;
B次元官网网址� provides you with a security deposit (no more than half a monthB次元官网网址檚 rent);
B次元官网网址� knows your expectations (date and time, cleanliness) for when they are to move out.
B次元官网网址� Residential Tenancy Branch
