What do I need to know about dude t rentals?

6 Replies

To all the owners of student/college rentals, what are the major differences between them and regular rentals?  

Should my first property be a student rental?

What should a newbie prepare for when entering the student rental space?

Are the numbers ran differently than the average rental?

What are issues you face with student rentals that you don’t face with regular rentals?

@Bill Plymouth I'd say the biggest difference is that it is much more active than a regular rental. 

My experience has been 80% turnover every year, heavy wear and tear, and a lot of emotion in dealing with the 18-22 year old age range.

I think one huge upside in dealing w/ college students is it forces you to hone your communication and management skills and systems. I think if you can manage student rentals well then you can probably manage any type of rental.

This post may be helpful: Nearing 1,000 College Student Tenants: Here's what I've Learned

Originally posted by @Bill Plymouth :

To all the owners of student/college rentals, what are the major differences between them and regular rentals?  

Should my first property be a student rental?

What should a newbie prepare for when entering the student rental space?

Are the numbers ran differently than the average rental?

What are issues you face with student rentals that you don’t face with regular rentals?

 Student rentals are pretty cool. The kids will do damage to the property, that's almost 100% guaranteed. Cool thing is though that you can get their parents to co-sign so collecting additional money to cover said damages is much easier than it is when renting to regular tenants especially if you're in the lower income arena.

I think one of the great advantages of dealing with college students is that it forces you to hone your communication and management skills and systems.

I think if you manage student rents well, then you can manage any type of lease.

So you have to think about it.

Student renting is cool. The children will be damaged by the property, no accident.

However, you can have their parents sign it together, so it is easier to charge extra money to pay for the above losses than to rent to ordinary tenants.