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Sage Kingston Condos,2 Years Rent Guaranteed And Free Property Management

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Condo
Completion: 2020

Description

Sage Kingston Condos is a new condo development By IN8 Developments currently in preconstruction at Near the Queen’s University, In Kingston.

Sage Kingston Condos High Light:

  • Steps From Queen’s University, High stable Student Rent Income.
  • Over 24,582 Students(2013) And Around 3900 On Campus Bed Means Demand For Sage Kingston
  • Very Close To Kingston General Hospital.
  • most amenities are walking distance
  • Stunning, Design, Architecture, Features & Finishes Make Sage Platinum Stand Out.

Sage Kingstone Platinum VIP Incentives

2 Years Rent Guaranteed

2 Years Free Property Management

Free Furniture Package to furnish entire suite

This article will help seal at least one deal for you at Sage Kingston:
A short excerpt:
“The evidence shows that students were more likely to enroll in college and were more likely to stay in college during the Great Recession. This may seem surprising, but actually college-going has increased in every recession since the 1960s.”
-Stanford College Professor Caroline Hoxby and author of How the Financial Crisis and Great Recession Affected Higher Education
 
In healthy economic times, vacancy rates in housing around top universities are extremely low. Sage Living has had a 0% vacancy rate across their entire portfolio of 2,000 beds since they started operating four years ago. If the market crashes, enrollments at top universities go up. This puts more demand on the local housing supply, which puts even more upward pressure on rents. Meanwhile, the housing values are based on rental income. This is why you will sometimes hear the term “recession-proof real estate” when people talk about student housing.

 

Why Invest in Kingston?

* Home To Wolrd Renowned Universities
* Kingston General Hospital high-income staff
* New Rental License In Kingston Shifting Demand From Rooming Housing To Condos
* Properties can be significantly cheaper than in larger, metro areas.

*Lower vacancy rates can translate to higher rent payments.

Sage Kingston Fast Facts

 Location:

– 82 walk score – Very walkable

– 15-minute walking distance to Queen’s University

– 15-minute walk to over 200 businesses and all essential amenities

– Princess Street is the closest non-residential street to campus

– Beautiful water views of Lake Ontario

– Kingston is situated within 3-hour drive of 33% of Canada’s population

– Directly in the middle between Toronto – Montreal – Ottawa over 10 million people

 

Queen’s University Top Reputation and High Quality Students

-Queen’s University has the largest endowment fund per student in Ontario

-#1 graduation rate with 87% graduating in 2016

-94.8% retention rate from 1st to 2nd year students

-Highest number of A+ students of any university in Canada

-Average grade of A+ or 89.2% for incoming students

-Highest number of award winning faculty

-Bloomberg Businessweek ranks Queen’s MBA #1 in the world for teamwork

-Maclean’s 2016 Rankings report ranked Queen’s #1 in student satisfaction

 

Queen’s Student Housing Situation

Enrollment Growth

-2016-17 student enrollment of 27,149 students

-More than 90% of students come from outside Kingston

-53% increase in student enrollment 2000-2016

-University planning to add 1,500 more students by 2020

Wealthy Students

-Queen’s International Students growing faster than any other University

-Temporary Resident Student visa permits in Kingston grew by 187% from 2015-2017

-International students pay more than twice in tuition. Come from very wealthy families and desire private luxury student housing

-Only 30% of its students received government financial assistance compared to 64% at other universities

– Top choice for Ontario’s elite private school students

On-Campus Housing

-Queen’s on-campus housing only has 4,500 beds for 27,149 students

-Almost entirely for 1st-year students.

-Still only 85.85% of 1st year students live on-campus. Number declining every year due to lack of supply.

-Queen’s has over 5,000 upper year graduate students who tend to desire more private luxury accomodations

Rental Market in Kingston

-Kingston has the lowest vacancy rate in Ontario

-Healthy vacancy rate is considered to be 3%. Kingston has a 0.7% vacancy rate

-Among new building (built after 2005) vacancy rate is only 0.3%

-Kingston has the 3rd highest rental rates in Ontario only behind Toronto and Ottawa

-Rental rates increased 3.6% 2016-17

-Current supply of student rentals are 50-100 year old houses in poor condition, no amenities, and high maintenance costs

– 1 and 2 bedroom new purpose built luxury accommodations are scarce and highly sought after

-Students at Queen’s pay $750-800/month for a bedroom in a 5-7 bedroom house. More than 40% more than the same type of accomodation in Waterloo or Hamilton

-Low supply has led to record low vacancy rates and very high rental rates

-In addition wealthy students and a growing number of international students desire luxury private accomodations and they can afford higher prices

Barriers to Entry to Build in Kingston

-Queen’s University is surrounded by heritage protected 2 storey residential neighbourhoods and the lake is a natural barrier for growth to the south.

-Princess Street is the closest possible street to develop a condo building.

-Altus Group construction cost guidelines show Kingston 10% more costly than Toronto

-Kingston sits on top limestone bedrock. Making any excavation very expensive for builders

-Heritage protection creates very few lots that can be developed over time. The increased cost of construction will also deter builders from entering Kingston.

-This means each new building constructed will be more valuable over the long-term due to continued shortage of supply and minimal competition

 

Sage Living Hands-Off Investment Solution

-Sage Living will take care of finding a tenant, securing a lease agreement, rent collection, and maintenance service requests from your tenant.

-Sage Living specializes in student housing with a portfolio of over 2000 beds under management for

-Sage Living manages 11 different condo buildings. Conducting property management on rental units for individual condo owners.

-For the 4th year in a row Sage Living has maintained 0% vacancy rate across it’s entire portfolio

-Sage Living has consistently achieved the guaranteed rental rates in years 1 and 2 offered by IN8 Developments. In some cases it achieves rates of 10-20% higher than guaranteed rate.

 

What The Free Property Management Included?
Renting your suite
• Signing lease agreements and
parental guarantors
• Collection of post-dated cheques
• Coordination of tenant move-in
• Field all tenant phone calls and inquiries
• Complete maintenance management
• Bill payments and cheque deposits
• Provide regular statements
 
What Do You Mean By FREE FURNITURE PACKAGE?
 
Free furniture packages are included in your purchase price
and will be a new and attractive feature in Kingston that will
allow owners to charge higher rental rates. All furnishings
are delivered to the suite with installation provided, enabling
residents to simply move right in and enjoy.
• Double bed with mattress
• Nightstand, desk and chair
• Sofa with coffee table, media unit,
• 50” flatscreen TV
• Dining table and chairs
 
What happens after the 2 years of guaranteed rental are up?
Pay the Half Monthly Rent As the Service Fee. The Sage Living Will Continuous the service as before.
 
Is the developer reputable?
The Sage Condominium concept has proven to be a successful and profitable investment. Since the original Sage Condo project in 2013, IN8 has been the leading developer of student condominiums with 10 Sage Condo projects in their portfolio to date.
Buyers of our first Waterloo projects realized an accelerated performance in capital appreciation due to the increased pricing in our subsequent projects. Buyers of one bedroom units in Sage II realized a 35.6% appreciation in the value of their condo versus the price in Sage Platinum 3 years later. 
 
Why would I buy a condo in Kingston?

When we look for opportunities for Sage Condominium projects, we look at the local market. We look for the age of the existing housing stock, and we look at what students are currently paying for rent. We performed a direct comparison between Kingston and Waterloo of what students are currently paying for a room in a 4-6 bedroom house that is over 25 years old. We found Kingston students were paying more in rent than they are in other markets. This immediately indicates that the supply/demand equation is tilted in the property owners favour in this under served market.

Does the Site Location Support Convenience Life For Tenants?
Situated along Princess Street, Sage Prestige is a short walk
from over 200 businesses in Kingston’s downtown core and
from Queen’s University. All essential amenities, entertainment
and conveniences are within a 15-minute walking radius or short
6-minute bike ride.


South of Sage Prestige is the heritage protected neighbourhood
of Old Sydenham. For potential investors, this is heavily influential
knowing that large areas surrounding the University are
protected and have restrictions for future development.

Floor Plan & Price List

Location