Chapmansboro, TN · Member since 2016 · 4 posts · 1 vote
I live near Ft. Campbell and the houses are going considerably less than in other areas near me. That said a successful realtor friend says she has a difficult time selling house in that area. Anyone have success with rentals near military towns?
We have a portfolio of houses near a smaller Air Force base in Texas. This is a "school house" so we have fewer deployments with our tenants than you'd have. If you have the lower rents which attract the younger folks, you are going to have a situation just a step up from a college party house. We set our rents by the BAH, as above, and would be happy to have an E-5 family. We also do allow dogs, but don't like cats. And we harden our properties with vinyl plank flooring or tile, not carpet.
Fort Gordon is close by us. We've rented to the military. Generally had good luck; sometimes need to monitor the very young soldiers. You can determine what their Basic House Allowance (BHA) will be by their grade and family status (single versus with dependents). We use our standard lease but include a military clause also.
We have a portfolio of houses near a smaller Air Force base in Texas. This is a "school house" so we have fewer deployments with our tenants than you'd have. If you have the lower rents which attract the younger folks, you are going to have a situation just a step up from a college party house. We set our rents by the BAH, as above, and would be happy to have an E-5 family. We also do allow dogs, but don't like cats. And we harden our properties with vinyl plank flooring or tile, not carpet.
@Tony Clark I can't speak to Ft. Campbell, but I have had great success near Air Force bases (Travis AFB, Nellis AFB, Malmstrom AFB). The turnover may be higher as most military members move every 2-4 years. I manage my properties remotely and it is completely care free; the tenants have all used direct deposit so the rent comes in like clockwork and they have all taken great care of the properties. The rentals I own are 4 bdrm 2.5 bath SFRs (approx. 2000 sq ft) near the bases. With that size house, I tend to attract the older military members with kids E-5, E-6, E-7, O-3. I also allow pets, which seems to help fill the house quicker at a higher rent. Every zip code has a different housing allowance so go to http://www.defensetravel.dod.mil/site/bahCalc.cfm to check what the BAH is near Ft. Campbell, then you can see if the numbers work for your strategy (young single folks or families). Also, many military members use AHRN.com to find rental housing when they move from base to base; you should be able to get a property manager account to post your listings on that site as well as check the competition. Good luck!