Student rental amenities

[Jeremy Fields]

I've got several rentals in an area that is predominantly occupied by students and would like to offer the most desirable products in the area. One of our units is a 5 bed home that will be renovated next summer and split into 3 apartments. The plan is to have (2) 3 bed/2bath and (1) 1bed/1bath. 

Looking for advice:

What amenities do students desire most? Which are a waste of money?

[Will Gaston]

@Jeremy Fields in my 12 years experience of student housing, the top 3 they care about the most (in order):

1) Proximity to something fun: The closer to bars, football/basketball stadiums the better. Walking distance to bars will receive a premium. I never advertise how close I am to school. Only how close I am to the bars/football stadium.

2) Large bedrooms: This is their own space within the house and they don't want it cramped. The bigger and the higher the ceilings, the better. Huge bedrooms = Huge rent.

3) Large Living Area: Most students (especially guys) love to congregate. They don't care about a dining room, eat-in kitchen, porch, etc if they have a huge living room.

I've made plenty of bad purchases in the early part of my career but when I figured out the above 3 items I was able to all but eliminate vacancy and get huge rent increases.