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Student Rental - Buffalo NY
I am looking to connect with investors in Buffalo NY who have a couple of student rentals under their belt.
We are out of town investor and 2 properties in Buffalo. One of them is a student rental just outside the UB South Campus. Property Management Company we work with right now to manage is fine with regular rental but I am having hard time working with them on student rental where some of the regular renting rules don't generally apply.
Like for student rental it is a must to take on 10 or 11 month lease and making sure house rented back for next year before the September term starts. Last couple of years we have been lucky that outgoing students bringing in new students who take over the property immediately. But lately it has come to situation where student sign 12 month lease, decide to vacate in the 11th month but property manager doesn't let them without paying for the last month which then students decide to stay through that last month. So now on 1st September my property is vacated and needs some TLC but their broker wont show it to anyone till the work is completed.
Current PM is fine, but they do not have student rental market understanding in my opinion. We want to invest in more student rentals in the area. But I cant depend on this PM hence looking for anyone who has few under their belt and understands how international student market in this neighborhood works.
Any leads and connections with investors who actively managing student rentals in Buffalo, NY area will be greatly appreciated.