Anyone got any rental properties in Saint Cloud, MN? How does the market perform there? I see that it has a population close to Maplewood, MN. Is the vacancy high? Is it hard or easy to find tenants? How is the job market there too if you live there, is it easy to find a job or not?
@Fong Lee As a person heavily active in the St Cloud market I will speak from actual experience on the ground.
As far as unit demand, it's off the charts. Everything we list available is getting dozens of applications in first week, the hard work is keeping up with demand.
The SCSU campus vacancies have 0 effect in standard housing rentals. the campus rentals are basically bedrooms, no joke, so there could be 10,000 of those available and it has 0 affect on the demand for standard housing units because it's like comparing a glut of bicycles available affecting car & truck sales, comparing apples to baseballs.
Healthcare employment is a major driver in the St Cloud market as it houses the regional hospital and medical facilities, people travel in from far around to receive medical services, which powers a niche STR market in the area. In addition there is also a major VA regional hospital to add to that.
There is considerable manufacturing in the area of various kinds, Capital One has a headquarters although for most part the lower wages empowers much of the larger employers in the area so affordable housing is a solid go-to.
The new construction apartments going up are all but exclusively class A luxury apartments, I know the builders and investment group.
Rents are similar to twin cities rates although property acquisition is significantly less than twin cities rates making for considerably better return rate potentials.
Crime rate is not an issue, nor do I believe it is going up, if anything St Cloud is far more stable than a great many markets out there right now. The areas in St Cloud that are so called "bad" areas, I would walk the dark alleys alone at 2am, the worst areas in St Cloud are comparable with an average area in Brooklyn park. There is nowhere in St Cloud that comes close to a N.Mpls area.
The #1 job market problem in St Cloud is filling open positions, I hear business owners and managers complaining about needing to find more people almost daily in St Cloud, so how hard is it to find a job in St Cloud, it's down to fogging a mirror and you got a job, lol, literally.
I have one single family 4/2 in St. Cloud MN With the right property they do well. Several new apartment complexes going up in the area so small multi-families can be a little harder to find good tenants for. I used to have a triplex there. Job depends on what field you are in. Construction/trades/ nursing fairly easy to find a job. Also with Covid lots of open college housing that may be open come fall possibly driving down small multi family rates
@Fong Lee
Seems like jobs are leaving and crime is up in St Cloud. Maplewood actually would be good, or go West side Corcoran, Champlain, Rogers
@Fong Lee As a person heavily active in the St Cloud market I will speak from actual experience on the ground.
As far as unit demand, it's off the charts. Everything we list available is getting dozens of applications in first week, the hard work is keeping up with demand.
The SCSU campus vacancies have 0 effect in standard housing rentals. the campus rentals are basically bedrooms, no joke, so there could be 10,000 of those available and it has 0 affect on the demand for standard housing units because it's like comparing a glut of bicycles available affecting car & truck sales, comparing apples to baseballs.
Healthcare employment is a major driver in the St Cloud market as it houses the regional hospital and medical facilities, people travel in from far around to receive medical services, which powers a niche STR market in the area. In addition there is also a major VA regional hospital to add to that.
There is considerable manufacturing in the area of various kinds, Capital One has a headquarters although for most part the lower wages empowers much of the larger employers in the area so affordable housing is a solid go-to.
The new construction apartments going up are all but exclusively class A luxury apartments, I know the builders and investment group.
Rents are similar to twin cities rates although property acquisition is significantly less than twin cities rates making for considerably better return rate potentials.
Crime rate is not an issue, nor do I believe it is going up, if anything St Cloud is far more stable than a great many markets out there right now. The areas in St Cloud that are so called "bad" areas, I would walk the dark alleys alone at 2am, the worst areas in St Cloud are comparable with an average area in Brooklyn park. There is nowhere in St Cloud that comes close to a N.Mpls area.
The #1 job market problem in St Cloud is filling open positions, I hear business owners and managers complaining about needing to find more people almost daily in St Cloud, so how hard is it to find a job in St Cloud, it's down to fogging a mirror and you got a job, lol, literally.
@Fong Lee As a person heavily active in the St Cloud market I will speak from actual experience on the ground.
As far as unit demand, it's off the charts. Everything we list available is getting dozens of applications in first week, the hard work is keeping up with demand.
The SCSU campus vacancies have 0 effect in standard housing rentals. the campus rentals are basically bedrooms, no joke, so there could be 10,000 of those available and it has 0 affect on the demand for standard housing units because it's like comparing a glut of bicycles available affecting car & truck sales, comparing apples to baseballs.
Healthcare employment is a major driver in the St Cloud market as it houses the regional hospital and medical facilities, people travel in from far around to receive medical services, which powers a niche STR market in the area. In addition there is also a major VA regional hospital to add to that.
There is considerable manufacturing in the area of various kinds, Capital One has a headquarters although for most part the lower wages empowers much of the larger employers in the area so affordable housing is a solid go-to.
The new construction apartments going up are all but exclusively class A luxury apartments, I know the builders and investment group.
Rents are similar to twin cities rates although property acquisition is significantly less than twin cities rates making for considerably better return rate potentials.
Crime rate is not an issue, nor do I believe it is going up, if anything St Cloud is far more stable than a great many markets out there right now. The areas in St Cloud that are so called "bad" areas, I would walk the dark alleys alone at 2am, the worst areas in St Cloud are comparable with an average area in Brooklyn park. There is nowhere in St Cloud that comes close to a N.Mpls area.
The #1 job market problem in St Cloud is filling open positions, I hear business owners and managers complaining about needing to find more people almost daily in St Cloud, so how hard is it to find a job in St Cloud, it's down to fogging a mirror and you got a job, lol, literally.
@James Hamling This is all extremely great insight and much appreciated, even in its age. I've seen you very active in this BP community, for that, I thank you.
@Fong Lee As a person heavily active in the St Cloud market I will speak from actual experience on the ground.
As far as unit demand, it's off the charts. Everything we list available is getting dozens of applications in first week, the hard work is keeping up with demand.
The SCSU campus vacancies have 0 effect in standard housing rentals. the campus rentals are basically bedrooms, no joke, so there could be 10,000 of those available and it has 0 affect on the demand for standard housing units because it's like comparing a glut of bicycles available affecting car & truck sales, comparing apples to baseballs.
Healthcare employment is a major driver in the St Cloud market as it houses the regional hospital and medical facilities, people travel in from far around to receive medical services, which powers a niche STR market in the area. In addition there is also a major VA regional hospital to add to that.
There is considerable manufacturing in the area of various kinds, Capital One has a headquarters although for most part the lower wages empowers much of the larger employers in the area so affordable housing is a solid go-to.
The new construction apartments going up are all but exclusively class A luxury apartments, I know the builders and investment group.
Rents are similar to twin cities rates although property acquisition is significantly less than twin cities rates making for considerably better return rate potentials.
Crime rate is not an issue, nor do I believe it is going up, if anything St Cloud is far more stable than a great many markets out there right now. The areas in St Cloud that are so called "bad" areas, I would walk the dark alleys alone at 2am, the worst areas in St Cloud are comparable with an average area in Brooklyn park. There is nowhere in St Cloud that comes close to a N.Mpls area.
The #1 job market problem in St Cloud is filling open positions, I hear business owners and managers complaining about needing to find more people almost daily in St Cloud, so how hard is it to find a job in St Cloud, it's down to fogging a mirror and you got a job, lol, literally.
@James Hamling This is all extremely great insight and much appreciated, even in its age. I've seen you very active in this BP community, for that, I thank you.
Wow, that's a time ago, lol.
Yeah if someone was wise and followed my guidance and buying in St Cloud market 3 yrs ago, there enjoying some very nice appreciation today in property and rent prices.
It's a market someone really needs to "know", as it's much like markets in the South, things can change a lot street too street. But as a whole, still about same as I said 3yrs ago. Areas claimed as "bad" for crime etc., still nothing compared to a N.Mpls "war-zone". St Cloud you may get looks or area looks poor, N.Mpls you may get car-jacked at gun-point. But that's me, wife reminds I have size and a "look" that as she says people would think "nah, not gonna mess with that guy". Hey, works for me.
"Affordable" housing is still the strongest tenant market. They keep popping up luxury apartments like there's a race or something, Sartell is becoming "the" luxury apartment capital I swear. I think it's absolute idiocy at this point, way too much saturation of them, way-WAY too much but hey, they keep leasing so.... Sartell SFR are like liquid gold, gone in a flash.
Only issue is I only know 1 good Pm in the entire market, no joke, so many bad BAD PM's. And that 1 "good" PM's wife says he looks a bit intimidating, lol. (hint hint).
@Fong Lee As a person heavily active in the St Cloud market I will speak from actual experience on the ground.
As far as unit demand, it's off the charts. Everything we list available is getting dozens of applications in first week, the hard work is keeping up with demand.
The SCSU campus vacancies have 0 effect in standard housing rentals. the campus rentals are basically bedrooms, no joke, so there could be 10,000 of those available and it has 0 affect on the demand for standard housing units because it's like comparing a glut of bicycles available affecting car & truck sales, comparing apples to baseballs.
Healthcare employment is a major driver in the St Cloud market as it houses the regional hospital and medical facilities, people travel in from far around to receive medical services, which powers a niche STR market in the area. In addition there is also a major VA regional hospital to add to that.
There is considerable manufacturing in the area of various kinds, Capital One has a headquarters although for most part the lower wages empowers much of the larger employers in the area so affordable housing is a solid go-to.
The new construction apartments going up are all but exclusively class A luxury apartments, I know the builders and investment group.
Rents are similar to twin cities rates although property acquisition is significantly less than twin cities rates making for considerably better return rate potentials.
Crime rate is not an issue, nor do I believe it is going up, if anything St Cloud is far more stable than a great many markets out there right now. The areas in St Cloud that are so called "bad" areas, I would walk the dark alleys alone at 2am, the worst areas in St Cloud are comparable with an average area in Brooklyn park. There is nowhere in St Cloud that comes close to a N.Mpls area.
The #1 job market problem in St Cloud is filling open positions, I hear business owners and managers complaining about needing to find more people almost daily in St Cloud, so how hard is it to find a job in St Cloud, it's down to fogging a mirror and you got a job, lol, literally.
@James Hamling This is all extremely great insight and much appreciated, even in its age. I've seen you very active in this BP community, for that, I thank you.
Wow, that's a time ago, lol.
Yeah if someone was wise and followed my guidance and buying in St Cloud market 3 yrs ago, there enjoying some very nice appreciation today in property and rent prices.
It's a market someone really needs to "know", as it's much like markets in the South, things can change a lot street too street. But as a whole, still about same as I said 3yrs ago. Areas claimed as "bad" for crime etc., still nothing compared to a N.Mpls "war-zone". St Cloud you may get looks or area looks poor, N.Mpls you may get car-jacked at gun-point. But that's me, wife reminds I have size and a "look" that as she says people would think "nah, not gonna mess with that guy". Hey, works for me.
"Affordable" housing is still the strongest tenant market. They keep popping up luxury apartments like there's a race or something, Sartell is becoming "the" luxury apartment capital I swear. I think it's absolute idiocy at this point, way too much saturation of them, way-WAY too much but hey, they keep leasing so.... Sartell SFR are like liquid gold, gone in a flash.
Only issue is I only know 1 good Pm in the entire market, no joke, so many bad BAD PM's. And that 1 "good" PM's wife says he looks a bit intimidating, lol. (hint hint).
Agree- this is a great response (rereading yours from 3 years ago). Can I ask more about the STR? Are you able to get a license specifically for that? I know Sartell put the hammer down on that and I thought St. Cloud did not allow it either. Would love to hear more about your PM recs as well for future (we just have 2 currently, but self manage). Thanks!
I believe James was referencing SFR (Single Family Rental) not STR (Short Term Rental). You're correct, Sartell does not allow Short Term Rentals.
Too many acronyms! :)
@Fong Lee As a person heavily active in the St Cloud market I will speak from actual experience on the ground.
As far as unit demand, it's off the charts. Everything we list available is getting dozens of applications in first week, the hard work is keeping up with demand.
The SCSU campus vacancies have 0 effect in standard housing rentals. the campus rentals are basically bedrooms, no joke, so there could be 10,000 of those available and it has 0 affect on the demand for standard housing units because it's like comparing a glut of bicycles available affecting car & truck sales, comparing apples to baseballs.
Healthcare employment is a major driver in the St Cloud market as it houses the regional hospital and medical facilities, people travel in from far around to receive medical services, which powers a niche STR market in the area. In addition there is also a major VA regional hospital to add to that.
There is considerable manufacturing in the area of various kinds, Capital One has a headquarters although for most part the lower wages empowers much of the larger employers in the area so affordable housing is a solid go-to.
The new construction apartments going up are all but exclusively class A luxury apartments, I know the builders and investment group.
Rents are similar to twin cities rates although property acquisition is significantly less than twin cities rates making for considerably better return rate potentials.
Crime rate is not an issue, nor do I believe it is going up, if anything St Cloud is far more stable than a great many markets out there right now. The areas in St Cloud that are so called "bad" areas, I would walk the dark alleys alone at 2am, the worst areas in St Cloud are comparable with an average area in Brooklyn park. There is nowhere in St Cloud that comes close to a N.Mpls area.
The #1 job market problem in St Cloud is filling open positions, I hear business owners and managers complaining about needing to find more people almost daily in St Cloud, so how hard is it to find a job in St Cloud, it's down to fogging a mirror and you got a job, lol, literally.
@James Hamling This is all extremely great insight and much appreciated, even in its age. I've seen you very active in this BP community, for that, I thank you.
Wow, that's a time ago, lol.
Yeah if someone was wise and followed my guidance and buying in St Cloud market 3 yrs ago, there enjoying some very nice appreciation today in property and rent prices.
It's a market someone really needs to "know", as it's much like markets in the South, things can change a lot street too street. But as a whole, still about same as I said 3yrs ago. Areas claimed as "bad" for crime etc., still nothing compared to a N.Mpls "war-zone". St Cloud you may get looks or area looks poor, N.Mpls you may get car-jacked at gun-point. But that's me, wife reminds I have size and a "look" that as she says people would think "nah, not gonna mess with that guy". Hey, works for me.
"Affordable" housing is still the strongest tenant market. They keep popping up luxury apartments like there's a race or something, Sartell is becoming "the" luxury apartment capital I swear. I think it's absolute idiocy at this point, way too much saturation of them, way-WAY too much but hey, they keep leasing so.... Sartell SFR are like liquid gold, gone in a flash.
Only issue is I only know 1 good Pm in the entire market, no joke, so many bad BAD PM's. And that 1 "good" PM's wife says he looks a bit intimidating, lol. (hint hint).
Agree- this is a great response (rereading yours from 3 years ago). Can I ask more about the STR? Are you able to get a license specifically for that? I know Sartell put the hammer down on that and I thought St. Cloud did not allow it either. Would love to hear more about your PM recs as well for future (we just have 2 currently, but self manage). Thanks!
I run a PM team in the market, so, I prefer myself lol. There was one other in the area that started a few years ago and he was (emphasis on WAS) really great, I used to refer him to those I thought he'd better serve than us. But, has gone the way 99% other PM's in that market have of turning into a mess once have any volume. Not sure why so many struggle with systems.
On STR keep the R in mind (R-Rental), that's all it is UNLESS governing ordinance states anything specifically different. So governed just like a standard rental, the difference is in the terms you rent it under, right. Stearns Co. regulates the rental of homes of less than 30 consecutive days at a time differently than standard rentals. They like to place it under a "lodging License". Keep in mind St Cloud is the meeting point of 3 counties and several cities, so lot's to check on all the time and things are always possible for change given so many "cooks in the kitchen".
In Sartell I think city is itching to get sued, question is if anyone is going to attempt it. The city is doing very questionable things in housing, like when they were called out on taking bribes from an apartment developer, which lead to a hold on new builds but seems all has been swept under the rug and is back at it. The saturation of apartments is ridiculous, I have no doubt wheels are still being greased. Back to point, they went via zoning regulations to impact STR, and it honestly makes no sense, there is by any metric a lack of such housing yet a ridiculous saturation of apartments to a multiplication factor of all "norms" for such. I think there is grounds for suit.
I am not aware of any STR impactor in St Cloud city specifically, although I don't currently operate any in that city. Rooming houses yes, but that's a whole different thing.
St Cloud is the land of 101 governing bodies and ego's galore, not to mention rampant corruption. It's best to just reach out to the specific city and ask at any given time, but NEVER give an address, when pressed for one say just checking because had opportunity to buy one in the area. Stroke the ego, just may find "yes" where thought there was a "no".
Or, if you want to get jazzy with it, just offer persons a 31 day "lease" with right to "terminate early free of termination fee". By there own rules that's not a STR and no regulations about tenants consistently "early terminating" their 31 day lease...... More than 1 way to skin the cat. And then if they want to re-write regulation to say how many tenants one can have, then you just sell shares of it as a time-share, and have those persons re-sell their share to you when done, and you sell to next, over-n-over again. There no longer tenants but fractional owners, who just happen to own it for a very short period of time. No regulation on how long one can own a share of a time-share, right.
Just got to flip mind to translating "I can't" into "how CAN I".
Last year I called and St Cloud did not allow STR unless it was owner occupied and/or needed a lodging license I believe. Something like that but never looked further.
All great insight. @James Hamling agreed that "crime" can be a subjective term. I sounds like you may have some student housing in St.Cloud? Do you find issues finding tenants year after year in the downtown college area? That area seems to have a good price to rent ratio yet, but I'd be curious if there was a reason. You as a knowledgeable property manager in that area likely knows why that is.
All great insight. @James Hamling agreed that "crime" can be a subjective term. I sounds like you may have some student housing in St.Cloud? Do you find issues finding tenants year after year in the downtown college area? That area seems to have a good price to rent ratio yet, but I'd be curious if there was a reason. You as a knowledgeable property manager in that area likely knows why that is.
I am 100% out of that segment in that market, with good cause.
SCSU has what I consider a very stupid plan for SCSU, that's going to feed continued decline. Short version is as enrollment drops, there going to cut programs to find level. Makes no sense to me because as one cuts programs, the effect will be decline in enrollment, so it's a feed-back loop. But they have a core program that makes sense and they are a-ok slashing things down until they get to that point, which would be about half the on-campus size it is now. So it's a declining market segment, with the primary controller of market size happy to decrease it.
It's actually very easy to get student tenants in that area because the vast majority of operators are very poor quality operators, so the trick is to just be a better operator. For example, last one we did, we made sure the place was setup decent, clean. Than we added a great wifi system, put in the biggest HD tv I could get at Sams Club, x-box and PlayStation. And we offered the place with all that as "perks". We marketed units 1 time, literally once ever. Never had to market a vacancy ever again because people would reach out asking if they could "get on the list" for when a unit came available. People who stayed there had friends, who would stop out to hang, right. And via that, would want to rent there instead of there current s-hole.
It comes down to a business mindset; Never Fight Fair. You competing with other offerings, right? So I looked at those and asked myself how I could open an artery on them. Yeah, I'm definently not a person one want's to face off against, lol, I am sociopathic in that manner, it's business, I simply don't care what happens to my competitors, I bring a bazooka to a knife fight. So crawl into the mind and interests of your target client. They don't really cook, they microwave things. So I had 2 very nice microwaves and 1 simple stove. They hate cleaning, so I had 2 dishwashers. Rooms were small because I didn't want a bunch of people in bedrooms, right, so small bedrooms because it's for sleeping BUT big common space for "hang". There all about internet, so I got the best $ could buy.
Others were getting $250 per room, we were at $500 and with a waiting list a mile long. We simply made it a desirable place to be, that's it, that simple. And one person would be "contracted" as House manager. People stayed in-line because they had something to loose, they wanted to be there, it wasn't just another average place to rent. They knew if they got kicked out, they were banned.
It's more about building a community then just a rental unit.
If someone was to go that route, I'd say follow that plan, build it as the place to be, and a place to retain. Then you'll get best revenues and best tenant compliance. The kids have to self-police because there is no such thing as "finding a good one", there kids, all of them are capable of being good or a mess. So it's about them wanting to be good, having something to loose, something to retain.
All great insight. @James Hamling agreed that "crime" can be a subjective term. I sounds like you may have some student housing in St.Cloud? Do you find issues finding tenants year after year in the downtown college area? That area seems to have a good price to rent ratio yet, but I'd be curious if there was a reason. You as a knowledgeable property manager in that area likely knows why that is.
I am 100% out of that segment in that market, with good cause.
SCSU has what I consider a very stupid plan for SCSU, that's going to feed continued decline. Short version is as enrollment drops, there going to cut programs to find level. Makes no sense to me because as one cuts programs, the effect will be decline in enrollment, so it's a feed-back loop. But they have a core program that makes sense and they are a-ok slashing things down until they get to that point, which would be about half the on-campus size it is now. So it's a declining market segment, with the primary controller of market size happy to decrease it.
It's actually very easy to get student tenants in that area because the vast majority of operators are very poor quality operators, so the trick is to just be a better operator. For example, last one we did, we made sure the place was setup decent, clean. Than we added a great wifi system, put in the biggest HD tv I could get at Sams Club, x-box and PlayStation. And we offered the place with all that as "perks". We marketed units 1 time, literally once ever. Never had to market a vacancy ever again because people would reach out asking if they could "get on the list" for when a unit came available. People who stayed there had friends, who would stop out to hang, right. And via that, would want to rent there instead of there current s-hole.
It comes down to a business mindset; Never Fight Fair. You competing with other offerings, right? So I looked at those and asked myself how I could open an artery on them. Yeah, I'm definently not a person one want's to face off against, lol, I am sociopathic in that manner, it's business, I simply don't care what happens to my competitors, I bring a bazooka to a knife fight. So crawl into the mind and interests of your target client. They don't really cook, they microwave things. So I had 2 very nice microwaves and 1 simple stove. They hate cleaning, so I had 2 dishwashers. Rooms were small because I didn't want a bunch of people in bedrooms, right, so small bedrooms because it's for sleeping BUT big common space for "hang". There all about internet, so I got the best $ could buy.
Others were getting $250 per room, we were at $500 and with a waiting list a mile long. We simply made it a desirable place to be, that's it, that simple. And one person would be "contracted" as House manager. People stayed in-line because they had something to loose, they wanted to be there, it wasn't just another average place to rent. They knew if they got kicked out, they were banned.
It's more about building a community then just a rental unit.
If someone was to go that route, I'd say follow that plan, build it as the place to be, and a place to retain. Then you'll get best revenues and best tenant compliance. The kids have to self-police because there is no such thing as "finding a good one", there kids, all of them are capable of being good or a mess. So it's about them wanting to be good, having something to loose, something to retain.
@James Hamling Honestly, probably some of the most sound advice I've read on BP in a long while. Somehow so so obvious but these are the simple strategies that obviously go far. Know your target market! I hope to not be in at the head of your bazooka so perhaps I should be happy you're no longer in that market.
All great insight. @James Hamling agreed that "crime" can be a subjective term. I sounds like you may have some student housing in St.Cloud? Do you find issues finding tenants year after year in the downtown college area? That area seems to have a good price to rent ratio yet, but I'd be curious if there was a reason. You as a knowledgeable property manager in that area likely knows why that is.
I am 100% out of that segment in that market, with good cause.
SCSU has what I consider a very stupid plan for SCSU, that's going to feed continued decline. Short version is as enrollment drops, there going to cut programs to find level. Makes no sense to me because as one cuts programs, the effect will be decline in enrollment, so it's a feed-back loop. But they have a core program that makes sense and they are a-ok slashing things down until they get to that point, which would be about half the on-campus size it is now. So it's a declining market segment, with the primary controller of market size happy to decrease it.
It's actually very easy to get student tenants in that area because the vast majority of operators are very poor quality operators, so the trick is to just be a better operator. For example, last one we did, we made sure the place was setup decent, clean. Than we added a great wifi system, put in the biggest HD tv I could get at Sams Club, x-box and PlayStation. And we offered the place with all that as "perks". We marketed units 1 time, literally once ever. Never had to market a vacancy ever again because people would reach out asking if they could "get on the list" for when a unit came available. People who stayed there had friends, who would stop out to hang, right. And via that, would want to rent there instead of there current s-hole.
It comes down to a business mindset; Never Fight Fair. You competing with other offerings, right? So I looked at those and asked myself how I could open an artery on them. Yeah, I'm definently not a person one want's to face off against, lol, I am sociopathic in that manner, it's business, I simply don't care what happens to my competitors, I bring a bazooka to a knife fight. So crawl into the mind and interests of your target client. They don't really cook, they microwave things. So I had 2 very nice microwaves and 1 simple stove. They hate cleaning, so I had 2 dishwashers. Rooms were small because I didn't want a bunch of people in bedrooms, right, so small bedrooms because it's for sleeping BUT big common space for "hang". There all about internet, so I got the best $ could buy.
Others were getting $250 per room, we were at $500 and with a waiting list a mile long. We simply made it a desirable place to be, that's it, that simple. And one person would be "contracted" as House manager. People stayed in-line because they had something to loose, they wanted to be there, it wasn't just another average place to rent. They knew if they got kicked out, they were banned.
It's more about building a community then just a rental unit.
If someone was to go that route, I'd say follow that plan, build it as the place to be, and a place to retain. Then you'll get best revenues and best tenant compliance. The kids have to self-police because there is no such thing as "finding a good one", there kids, all of them are capable of being good or a mess. So it's about them wanting to be good, having something to loose, something to retain.
@James Hamling Honestly, probably some of the most sound advice I've read on BP in a long while. Somehow so so obvious but these are the simple strategies that obviously go far. Know your target market! I hope to not be in at the head of your bazooka so perhaps I should be happy you're no longer in that market.
Lol, glad I could be of help.
Honestly the St Cloud market has a lot of room for good operators and the need to push out the bad. The city want's this as well, as tough as they can be, once they get to know a person and see your a good operator, they can become very friendly and helpful.