Renting to Student Tenants?

3 Replies

We focus only on towns with college tenants, although we rent to a mixture of people. I find new renters to be highly trainable and typically respectful. Their parents or student loans often pay their rent and they will move out in a reasonable amount of time to allow for rent increases and improvements. The only frustrations we've had happen when a parent advises their kid on how to "handle" the landlords. With careful screening, it's easy to notice those kinds of people.

Originally posted by @Mary White :

We focus only on towns with college tenants, although we rent to a mixture of people. I find new renters to be highly trainable and typically respectful. Their parents or student loans often pay their rent and they will move out in a reasonable amount of time to allow for rent increases and improvements. The only frustrations we've had happen when a parent advises their kid on how to "handle" the landlords. With careful screening, it's easy to notice those kinds of people.

Mary, love the comment about the parents. The number one difficulty in student rentals in my 13 years renting to students are the (well-intentioned) helicopter parents which I discuss in this post: Nearing 1,000 Students. Students pay very well, but most landlords in the niche that I know earn every penny.

Hi Will, 

Thanks for the response. I'll go read your article. It can definitely frustrating when a student renter is open-minded and trusting, but the parents are so worried that the big-bad wolf landlords will screw over little Johnny, that they over-step. I'm careful with my screening and end up with a high percentage of good kids, but it helps that I'm mostly involved with technology school kids (Oregon Institute of Technology). They're all pretty studious and conservative. 

Cheers!