MY STUDENT HOUSE accommodation close to campus , and you ’ re entitled to charge the maximum amount of rent that the bursary allows which is sometimes double the rate of what a private student would pay .
“ This is not a passive income generating hobby that can be completely outsourced to another rental agency .”
But there are negatives too ; NSFAS payments are usually late and most universities don ’ t allow you to charge deposits for NSFAS students , so If a student decides to move to another property you can be left with an empty bed for the rest of the year .
The SA Lease
Your lease should be very clear what is , and what is not , included in the rent . You need to specify all the details on the lease agreement such as whether there is a download limit on the WiFi , or whether you charge for laundry using coin operated machines or prepaid electricity and water meters .
One of the most common SA questions I hear is “ who signs the lease ? If the student has NSFAS funding they must sign the lease as the NSFAS bursary is seen as a contract between the student and NSFAS . However , there are instances where NSFAS don ’ t pay the full amount or cancel the bursary half way through the year due to the student not fulfilling the bursary criteria . This is why I strongly recommend getting a parent or relative to
SA Real Estate Investor Magazine DECEMBER 2022 / JANUARY 2023 23