Campus Life

Students tell all: the pros and cons of renting

by Jamie Brackpool

College and University is an opportunity to find yourself and become more independent.

For many, this involves moving away from home. Of course, like anything, renting has its ups and downs. From bad landlords to great bargains, we wanted to find out how students felt about renting, so we went out on campus to ask them about their renting experiences.

Here’s what Humber and Guelph-Humber students had to say:

Amy North – Marketing, 4th year

Pro: “I like the idea of being able to pick a place to live without making a long term commitment. If you don’t like where you end up, then you can just see out the lease and find somewhere else.”
Con: “[Renting] feels like a poor investment. You pour loads of money into temporarily owning a small piece of space and at the end you leave with nothing.”

Magnifying Glass searching the classified ads section

Nick Davenport – Criminal Justice, 3rd year

Pro: “The average home in Toronto costs between $2-5 million. The average person can’t afford to pay those kinds of mortgage costs. Rent gives people the option to have temporary housing.”
Con: “Your money ultimately builds towards nothing. There is no return on investment. At the end of your contract, you have nothing to show for your money.”

Mushfiq Mawla – Paralegal Studies, 1st year

Pro: “You don’t have to deal with small maintenance issues. You can call your landlords for small fixes. It isn’t your problem.”
Con: “It is hard to save your money when it is going into housing that you don’t even own.”

Handyman on roof cleaning the gutters

Matt Viner – Hospitality and Tourism Management, 3rd year

Pro: “You have more freedom. You don’t have to be quiet for family, and sometimes it’s nice to have a break from your family.”
Con: “There is less privacy when you share with others. You never know what kinds of friends your roommates will bring home.”

Jevaughn Reynolds – Marketing, 4th year

Pro: “It is nice to be closer to school. I used to commute two hours to school, so renting cuts down on my travel time.”
Con: “It is expensive.”

Congested traffic

Allisa Lim – Business Admin, 2nd year

Pro: “You get to pick where you want to live. That kind of freedom is nice.”
Con: “If you get stuck with a bad landlord you are stuck with them until your lease is up.”

Close up of someone handing keys to another person

At the end of the day, we all have different experiences living away from home. If you’re struggling with your experience, IGNITE offers many services that can help you. For example, IGNITE’s Student LifeLine allows you to talk to a qualified lawyer for legal advice. If you are struggling with your monthly payments, IGNITE has many financial resources to help you manage your money.

If you are new to renting or are thinking about renting in the future, check out our Renting 101 Workshops at both the North and Lakeshore campuses.