Military base properties and tenants
Has anyone experienced pros and cons of having multidwelling units near a military base? Specifically rental rentention, vacancy concerns due to deployments, how to handle short term leases, section 8 vouchers, etc.
I found 2 properties for sale and have tenant roll and income statement with cap rate around 6 at asking price.
Still doing due diligence, any feedback or suggestions would be greatly appreciated. 🙏
Most Popular Reply
@Jared Vincent
I live next to a large military base and deal with these tenants frequently.
1.) Theres nothing you can do to stop them from breaking the lease if they get deployed. This results in higher/unexpected turn over. By law, you must return their deposit if they leave the unit in the condition they left it in.
2.) They are given a BAH (basic housing allowance) thats predetermined based on their rank. This is guaranteed money issued to them every single month thats specifically for housing. This is great for you because you know you will get your money and can sometimes charge a premium for your rental
3.id continue but the app on my phone is glitching.