For example, there is a steady stream of new students every year, so there is less likelihood of vacancy. This is for two reasons. Since college students may want to travel or return home for the summer, you should address the issue of subletting in the lease.
Immaturity Some college students are on their own for the first time and free from parental control. Higher Rental Yield College town real estate is attractive to investors for a number of reasons, but mainly because it pays.
In this situation, you may have to lower your rent to entice students to live in your property. Hire a third party to monitor the building, similar to a Resident Assistant in a college dorm. Include bans on things you feel may damage the property, such as certain kinds of pets, fireworks, and weapons of any kind.
However, one of the most underutilized strategies could be one that produces the most consistent results: renting to college students.
College students have the option of living on-campus in most cases or off-campus, and they may explore different housing options. There are 5 things that landlords can do to ensure that they are attracting and screening the best of the best when it comes to student tenants.
Walkability of the area - Not all students own cars, so walkability to campus, grocery stores, and social events is a key factor.
Leasing: As we mentioned, some student tenants can irresponsible. This is a common result when running credit of younger renters or college-aged students.