Student Rental Markets

[Matt Schreiber]

I wanted to see if any realtors, property managers or investors were seeing success with student rentals in any markets around the country. I'm trying to move slightly away from Short Term rentals but looking to try and get similar cash flow. I thought student rentals could be a good option even though I know this will come with its own headaches. Does anyone have any markets they recommend for this? Open to anywhere in the country. Thanks for your help 

[Shawn Mcenteer]

Hi @Matt Schreiber Absolutely. Huge success with student rentals but I will say it is college to college.  What makes NJ so good is many of the Universities are out of room to expand becuase of how over developed our state is.  Universities will put money into new facilities for education but in many case run out of space to build dormitories.   And when they do build dorms most schools will charge a huge fee.  For example I am in process of renting an apartment for $6,500 per month, it will house 7 students.   School will charge them $1200+ per month to share 1 bathroom with 4 roommates, 2 each room.  We will charge Under $1,000/ month per student for every student to have their bedroom and in this case 3 full bathrooms, kitchen and Livingroom.  Best part is parents will co-sign and once the cycle starts each year the student will find replacement roommate.  I have a client who is over 10 years without having to market or list property because as students move out they find their own replacements, we just screen new occupants each year.