What is the risk of buying a student rental property where each room has a separate lease?

Where each room in a unit has its own separate lease rather than one lease covering the whole unit, a buyer taking over as landlord is really taking on multiple separate tenancies rather than a single one, each with its own start date, rent amount, and termination timeline under the Residential Tenancies Act, 2006. This structure significantly increases the complexity of managing the property compared to a single tenancy covering the entire unit.

Any future change you might want to make, whether ending a tenancy, adjusting rent within the rules, or coordinating renovations, has to be assessed separately for each individual room-tenancy on its own facts and timeline, rather than treated as one decision affecting the whole unit at once. This can make even routine landlord decisions considerably more involved than they would be with a single tenant or a single family occupying the unit. Before buying this kind of property, have your lawyer review each individual lease so you understand exactly how many separate tenancies you would actually be managing, and plan accordingly rather than assuming it functions like one tenancy.