College student rental unit?

Question

I'm considering a property on MLS near my local college/hospital. Great rental area, I'm just hesitant of getting a student rental unit. Does anyone have any advice or thoughts? I'm concerned of noise complaints and destroying the property.

It's a motivated seller and sounds like I could negotiate a good deal.

Anthoney Hanks · Answer

Welcome to BiggerPockets! Truly nice to meet you. Good luck going forward! 😁 I guess a college rental is like some other locations,  you just have to decide your risk tolerance. You just know this type of stuff is going to happen. Hope the best going forward!

Chris Rogers · Answer

Thanks Jeff.

What about vacancy? have you ever had any issues renting.

Jeff Ronningen · Answer

@Chris Rogers.  I have one student rental. Pros - strong demand, higher rents (rent by the bedroom), low expectations of painting and improvements for turnovers. Cons - drama, parents, drop outs, trash removal at turnover. In general I think it’s a lucrative market. In November/December you market the property for the next school year starting August. You rent for 12 months, no summer without rent. That’s not how it was decades ago when I was in college but that’s the way it is now.