UBC student tries to sublet unit for almost double the going rate (PHOTO) | Daily Hive

UBC student tries to sublet unit for almost double the price

Ponderosa residence/UBC

With the fall semester just weeks away, many students at UBC are still searching for housing and those efforts are becoming more and more frantic as September approaches.

One student seems to have tried to capitalize on it when they offered to sublet their bedroom for a hefty profit last week.

This is for a room that UBC housing rents for ~$900 pic.twitter.com/rVVjfGrI4v

— Oliver South (@oliversouth_) August 7, 2022

The student posted about their so-called sublet on Facebook, saying they were leaving for a year-long exchange program and that means their space was available at Ponderosa Commons: Oak House.

The going rate: $1,750 to sublet one bedroom in the four-bedroom unit.

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According to UBC Housing, a bedroom in a four-bedroom unit cost about $965 a month, a profit of $785.

The multi-purpose hub for mainly upper-year undergraduate and graduate students, includes a furnished kitchen, living areas, private bedrooms, and internet access.

It can be rented year-round and boasts a dishwasher in all units.

Screenshot courtesy of Oliver South.

A screen grab of the interaction was shared on Twitter by Oliver South, but the original post has since been deleted.

“It’s really crazy how much demand … I’ve gotten 100 messages since I posted this ad. Someone is offering me $1,750 for the room. I know it’s way above the price but it seems like people are willing to pay that much and it’s hard for me to say no to that,” the message reads. “So yes that’s the current offer I have if you wanna beat that.”

The tweet has since received comments from social media users that call this situation “depressing.”

One person said, “the current mix of housing around UBC is fine and sufficient 🙃.”

South posted the screenshot online and criticized the university and said it would not take any recourse if this indeed violated the terms of the lease.

“It’s an empty threat … They know it’s happening, people have been subletting above the UBC rental rates for years. It’s just much worse this year,” he said.

UBC does allow subletting but applicants must meet certain criteria and apply through the university and not the “sublessee” according to the website.

Daily Hive Urbanized has reached out to UBC about this offer however did not receive a comment in time for deadline.