Renting My Townhouse in a College Town

3 Replies

Greetings BP!!

So, I am currently residing with my family in a 2/2 townhouse in Huntsville, Tx.  We are currently working on getting our former primary residence sold in Spring (N. Houston), and when that closes, we will be looking for another primary in Huntsville (that I want to live and flip, but that is another story....)

I have a few questions and am looking for opinions as well as facts, if any can be dug up from the information that I can give....

1 - I really, REALLY do not want undergraduate 'kids' in this townhouse.  What can be done to target it towards an older audience?  Is it legal to give a discount for post-graduate students and/or families?  

2 - Appliances - I plan to leave the refrigerator and washer and dryer in the house.  I don't want to have to move it, and my better half wants better appliances.  One option that I considered is 'leasing' the appliances monthly to the new tenant, whoever that is....Say $25/mo for washer and dryer and $25/mo for fridge....or just leave the fridge as part of the package...that seems to be standard in this particular townhome community.  

3 - Attic you typically allow tenants the use of the attic?  I have built in some storage in the attic, and the HVAC equipment is up there....I really don't want someone messing around that stuff if I don't have to.  Are there any rules about this? 

4 - HVAC - How do you ensure that your tenant is changing the HVAC filters every month?  I don't have an issue doing this myself, as I live (or will be living) local, and it would give me a chance to get into the unit for a quick look-around, but what are y'all's thoughts?

I've lurked on BP for years....finally getting involved....thank you, everyone, in advance for all of your help and guidance, and I look forward to hearing from y'all!!

Congrats on the move. Its a nice little income as well!

1. Yes, you can provide some discounts be sure not to impinge on any protected classes

2. Leasing appliances is fine, but be prepared to remove and store them if an odd tenant has their own (i.e. post-grad families) Also additional wear and tear from big appliances going in and out of your unit

3. Check the lease, you can specify either way

4. No easy way to ensure this, put it into lease.

good luck!

The chances of tenants actually changing filters is slim to none, do it yourself and put it in the lease. Also don't lease the appliances, mark up the rent to the correct level and include the appliances. People will be turned off by having to pay extra fees, just make it simple and it'll be easier for everyone.

I buy the expensive filters that last a year or longer. 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here