Investor · Dallas, TX · Member since 2014 · 142 posts · 44 votes
Hey BP,
I am looking at doing a few buy and holds for the first time. I have been looking at some really good deals in a college town. There are around $12,000 students, and only expected to increase significantly over the next 5-7 years. What advice would you give for my first few rentals. Should I go with college students or families?
Investor · Orem, UT · Member since 2015 · 18 posts · 6 votes
10y
Hi Jamie,
I have a few rentals in a college town and I have found the young married couples or families to be better renters.
Some challenges renting to single students:
College students come and go (Summer, etc.)
College students tend to be higher maintenance
College students may not pay on time (can happen with anyone)
College students tend to like people over, sometimes a lot of people over (wear and tear)
I have rented to both and although I never did have a really "bad" experience to single students I did find the families tended to keep the place nicer. I'm sure others could tell stories of the opposite. However, this is from my experience.
Investor · Juneau, AK · Member since 2015 · 980 posts · 741 votes
10y
Jamie, I know the first reaction may be scenes from animal house or the newer neighbors film, but I have a student most of the time (and none of that mischief). I would, however, think broadly, not just students, because as mentioned above they leave in summer, leaving you a vacancy for three months.. Also they can be very hot and cold with the fall rush for housing and then it dies down, so if you are vacant after school is underway, it could stay that way.. Now to thinking broadly, how about nontraditional students who are working year round, grad students with families who are year round, university staff, faculty, etc.. Lots of economic activity around colleges, just avoid frat row and look at housing that works for other parts of the college population...best of luck