Rental Market in Allendale

[Joyce Lam]

I am looking into potential rental properties in Allendale, Michigan. I haven't been there yet, looking to make a trip out there in a few months but wondering if anyone is familiar with that area and the potential rental market out there.  Is it pretty easy to find renters? I'm seeing that there is potential for good returns (1% rule). Also if you have any management companies that operate out of there, I'd love an intro.

It's near Green Valley State University. If you have any experience in owning/renting property in Allendale or Grand Rapids, would love to hear more. Thanks!

[Account Closed]

As you note, Allendale area is the home of GVSU.  Most of your tenants will likely be students.  Keep in mind though:  The township is not landlord or tenant friendly.  The township prefers the large apartment communities.  Their strict zoning ordinance does not allow more than one unrelated person to live in a unit, e.g. single-family home.  So, forget any chance of renting a two-bedroom to four students--can't be done.  You can't even rent a two-bedroom to three students--unless two of them are related.  There is also a property maintenance code requiring rental inspections.  I'm not saying "don't invest" there--just be informed and plan accordingly.  Good luck!