Upsurge of Zambians Offering Their Houses For Student Accommodation
With the increased number of universities and colleges in Zambia's capital city Lusaka, more people are now opting to offer up their houses as student boarding accommodation.
Lusaka has more than 20 universities and colleges that have been established recently and the majority of them do not yet have boarding facilities, resulting in students opting for alternative accommodation in surrounding neighborhoods.
There has also been a huge number of rural-urban migration, as more young Zambians keep coming to the capital city for tertiary education.
As Moses Mulaya of Chalala neighborhood shared in an interview recently, the business has proved to be very lucrative.
Mr Mulaya turned his house into student housing as it is located near Apex Medical University. He said the three bedroomed house has generated enough funds to enable him to build another three bedroomed house.
"At first I thought it was ridiculous to leave my house and rent a smaller one. My family was initially against the idea but I knew its becauson the demand was increasing everyday and I watched others make money. More students were looking for accommodation near the Apex University, so I gave my wife and children a deaf ear and went ahead to rent our house which is 15 minutes walk to the university, "he said.
Mr Mulaya said that this has really peaked his interest in the real estate business and prompted him to embarke on building flats for commercial purposes.
"Renting out my family house was the best thing I have ever done because I have managed to build one more three bedroomed house which I am now staying in with my family and I have also started building flats that will accommodate more students.
"My boarding house happens to be the cheapest around this area. My other colleagues charge more than that but I am okay with that amount because I understand the challenges which parents are going through to raise tuition fees amid this Covid 19 pandemic."
He described it as a very good business and has encouraged others to venture into real estate.
"In three years I have managed to build a self contained three bedroomed house and I am currently working on some flats. Materials like roots, tiles, blocks, glasses, toilet pans and other things needed are readily available in Lusaka", he said.