College town rental property landlord question?

Question

Hi all

I would like to get your opinion when it comes to renting your college town rental property.

Do you rent Coed or gender specific sort of majority wins or which gender has stayed longer?

What is your lease like? 6 months or 1 year basis?

Any advise on which property is better, townhome or condo? Downside and upside?

thank you in advance.

Spencer Abeyta · Answer

@Pete Silan I would be careful with any sort of gender specific housing for a small time landlord because it is very easy to encroach on Fair Housing Laws. Sex is a protected class under fair housing. My advise would be to just put the unit for rent and not include any stipulations of who you want in the property. Have a uniform screening policy for all potential tenants and set base criteria that must be met in order for the applicant to be accepted.

When I rented an apartment for college I found one year leases to be the norm as this gives students a full school year in one place. Now occasionally a 6 month lease was used in cases where a student only had one more semester to complete.

Personally, I don't believe there is a noticeable difference between condos and townhomes when it comes to renting to students. In a college town students would be used to living in close proximity to other students. As long as there is adequate parking I don't believe there will be any problem except for potential noise complaints.

Pete Silan · Answer

@Spencer Abeyta

Thank you for some great advised. I appreciate it.