Student Housing Expenses

[Nicolas Jefferson]

Hello BP, thanks for taking the time to read and help me out!

I'm looking at several student houses in my area (currently a Master's student myself, so trying to multi-task getting my M.A. and real estate investing) and I've already calculated the monthly expenses/costs for the houses around here. However, I feel like there would be more miscellaneous expenses for student houses than normal family houses that I didn't account for. 

What expenses do you account for when calculating rent for student rentals? Currently the only expenses I counted for were (not including principal & interest):

Property Taxes - Varies by House

Insurance - Varies by House

Vacancy - 10%

Repairs - 10%

Property Management - 10%

Would you increase repairs? I know the current property management company requires a down payment of a month's rent before signing the lease. Also, the houses range in the $60,000 - $100,000 range; so not the most expensive houses.

Thank you!

[Al Williamson]

I would also throw in Wi-Fi for sure and furnish the place - at least provide the bed and dresser. You don't want big things being hauled in and out.

Tip: go with refurbished mattresses.

I also make lump all utilities and cover them. Adjust your rents to account for this, but it's good to have students make one payment for everything. You could include some form of bonus it encourage energy conservation.

The more you make it all inclusive - the more you'll face zero vacancies.