shared student accommodation in Seaford Victoria

Hi all,

i purchased an investment property in Seaford Victoria a few years back with a strategy biased towards medium to long term capital gains rather than cash flow. That having been said , the rent I am getting is a bit lower than I expected and I am looking for ways to try and get a bit more from the property.

currently looking into converting the unit into a furnished shared accommodation unit as an option. Being a three bedroom unit, I would be looking at an extra $70-125 a week in rent. Just wondering if anyone else had done something like that and could give me a few pointers as to what to look out for. I have had a quick chat with my property manager but they weren't much use other than to say that not being walking distance to the university campus (about 3.5kms) might not be ideal – but being located on the Nepean hwy, I guess there would be buses (I am based in Sydney myself so do not know the area that well).

if anybody knows what the demand for student accommodation is  like in the area or any other related information, I would greatly appreciate your input. I need to confirm that there is demand for it and that my property would be suitable prior to investing into furniture and the like…

Thanks in advance for your input.

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