Student Rentals (Multi-family)

[Joshua Heller]

Hi all-

I'm new to the BP community and am ready to get started with my first rental investment property. I've decided student rentals in a college town would be a good place to start small and get my feet wet. I know the market well and have identified a few solid options, but my only concern right now is timing. 

With classes starting in 22 days (Aug. 22), I'm worried that off-campus housing has largely been secured already for the most part for the upcoming school year. I'd also imagine it would be much tougher to rent off-campus housing in the middle of a school year.

Does anyone have any experience/advice/input on timing re: student rentals?

Thanks!

Josh

[Will Gaston]

@Joshua Heller you're spot on. I wouldn't buy anything now with the intent of trying to get it rented before the school year (or even spring semester).

Student rentals are HIGHLY time sensitive in my market. The "rental value" of a property outside of a summer to summer lease is somewhere around 50% in my estimation. I'd liken the seasonality of it to a vacation rental.

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