BiggerPockets

From your profile it sounds like you are new to this business. Renting to college kids is a whole different subset to this business.

I doubt he has the money himself to rent the whole place. I doubt he will take good care of the yard.

Likely he will move his buddies in. Likely they will be large football players. Likely they will be very hard on the property.

Get a lease for each person moving in. Get a signed and notarized parental guarantee for each tenant moving in. Get a security deposit even higher than the rent.

Of course, I had all of the above and one set of my college tenants recently did $3200 worth of damage, which was a PITA to collect, and even involved taking one jackoff to court twice.

Good luck and keep us posted.

As a landlord of 75 units of student housing I can tell you if you have a nice house, I would tend to concur with Paul. That being said, student housing does offer a lucrative cash flow, but you have to have the right property type. As in, nothing they can ruin or damage. Also, if you do rent to this party, you may want to consider having the parents sign the lease. Frankly, with Mom and Dad on the lease there is a greater liklihood of getting payment for rent, damages, etc.