Subleasing business - need advice

[akula]

So I'm working with a partner on a little opportunity.
Essentially it's like this:

Problem:
Traditional accommodation is either too expensive or inconvenient for students, travelers or employees who want to live closer to their offices in the CBD. For example, interntional students who go to a university in the city may not have the $600 per week to rent an appartment in the city.

Solution:
We are looking to sublease accommodation. Namely, we want to rent a a 2br apartment, fit it out with some furniture/amenities and then sublease the space to about 5 people. 2 per bedroom and 1 in the lounge for about 220-250 per week.

What is the best way for us to find new tenants?

Thanks

[akula]

bump.........

[tyreandme]

Post small ads for "inexpensive housing" throughout the local universities, coffee shops, and wherever else college kids(assuming that is who you are trying to target for tenants) spend their time.

[rogercbryan]

So I'm working with a partner on a little opportunity.
Essentially it's like this:

Problem:
Traditional accommodation is either too expensive or inconvenient for students, travelers or employees who want to live closer to their offices in the CBD. For example, interntional students who go to a university in the city may not have the $600 per week to rent an appartment in the city.

Solution:
We are looking to sublease accommodation. Namely, we want to rent a a 2br apartment, fit it out with some furniture/amenities and then sublease the space to about 5 people. 2 per bedroom and 1 in the lounge for about 220-250 per week.

What is the best way for us to find new tenants?

Thanks

I would go to the international department of the University you are near. This is a big thing in the US mostly for people coming from Russia and Eastern Europe. When I lived in Cleveland I must have hung out with a half a dozen different groups of people from school that lived in these types of arrangements. Basically what you are doing is setting up an external dorm. If you can't get the renters from the University I would also look at International work exchange programs as a back-up.

[mattnelson]

Hey Akula,
They are doing this in my country at the moment up in Auckland. Pretty much your target audience are going to be international students, preferably ones from Asia as they tend to have more respect for apartments, and also don't mind living in close confines. I highly doubt that you would get any Aussies wanting to live in the kind of situation if they are students. Also check your local council bylaws and your tenancy agreement to make sure subleasing isn't forbidden

[akula]

thx guys..yea...trying to give this thing a go, just finding it to be a bit of a headache..