What Needs to be Different for College Students

Question

I have a long-term single-family home rental and is most likely going to be filled with college students.  What do I need to do differently in regard to screening, writing up a lease, and actual management of this property?  If I am missing anything else that would be greatly appreciated!

Michael Dumler · Answer

Account Closed, to piggyback off Emma, you'll 100% want their parents to co-sign the lease.

Michael Haynes · Answer

Hello Caleb Rehg. You did not say where you live? I mean are you next to a School somewhere? On a list of "Tenants to Rent to" I would list Students as next to last. You don't know what your doing. They have No Money. The new ones all went Woke. If it's guys, then, you end up with a Frat House and beer etc. If it's gals, you have hungry boyfriends honking horns at midnight trying to get a date. Some smart BP members have targeted Medical Colleges because they have daddy's Money. The parents will co-sign the lease and pay Direct Deposit with First, Last and the only guarantee you have in Rentals, a Deposit. Medical students have to study 24/7 to get through the course and get to work. What you missed would take a lifetime to teach you.

Bruce Woodruff · Answer

No, no, no.....run....

Or at least make sure their parents are 100% liable for rents and damages....set down strict, hard and firm rules and be prepared to enforce them.

Melanie P. · Answer

They would have to have rich parents. By rich I mean they completed an application, paid the screening fee and we show that their income is sufficient to cover all of their own expenses plus pay for rent and any damages at the unit we are renting their child. And as stated above they must 100% give you a guarantee.

What Needs to be Different for College Students

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