All Forum Posts by: Newell Zelarayan

Renting out to college students can be a good investment opportunity for landlords, but it's important to consider the potential pros and cons before making a decision. Here are a few things to keep in mind:

Pros:

• Consistent demand: College students need housing and tend to rent year-round, which can provide landlords with a steady stream of income.
• High rental yields: College students are often willing to pay a premium for housing close to campus or with desirable amenities, which can lead to higher rental yields for landlords.
• Multiple tenants: Renting to college students can mean renting to multiple tenants at once, which can increase the potential for cash flow.

Cons:

• High turnover: College students tend to move frequently, which can result in high turnover rates and additional costs associated with finding new tenants.
• Potential for property damage: College students may not have the same level of responsibility or experience as older renters, which can result in more wear and tear on the property or potential for property damage.
• Noise and disturbances: College students may be more likely to host parties or cause disturbances, which can lead to complaints from neighbors and potential legal issues.

Ultimately, whether or not renting to college students is a good investment opportunity depends on a variety of factors, including the location of the property, the local rental market, and the landlord's level of experience and ability to manage potential issues that may arise. It's important to carefully consider all of these factors and consult with professionals such as property managers, real estate agents, and attorneys before making a decision. Good luck & happy investing!

While you'll get more wear and tear, college students are typically lower maintenance tenants. They won't ask for bells and whistles because they don't expect it. 

If you can, look to rent to grad students. We have, in our one student apartment, with no regrets.

Expect higher wear and tear on your property. This is not always the case, but I would expect it.

I'm not an investor personally but wanted to chime in on this since I recently did a series covering appreciation in our area. Many folks in this thread were mentioning not to expect appreciation in Albany but in my opinion that couldn't be farther from the truth. If everyone in this thread had purchased a property 3 or 4 years ago when the thread had most of its activity... they'd have been very happy today!

The average appreciation from 4 years ago, in Albany county as a whole.. was a whopping 18.5%, so 4.6% on average year over year. This is not an anomaly, and even though it has basically been a strong buyers market nonstop since then, data from earlier than that is still consistent in that appreciation does exist here. 

The biggest negative I can usually think of for Albany is that the taxes are high in relation to the assessed values (100k assessed value usually means about 5-6k in property taxes). This area has strong rental prices and being that the county is made up of about 40% non-homeowners, there is always strong demand for rentals, and therefore strong sale prices and steady appreciation. 

I'm new and trying to get my financial IQ up to par and learning all the main nuances about real estate investing, I was looking at Albany, NY to get me feet wet in.  Currently living in NYC area, so I figured Albany could be an easier market to get into.  I know the area somewhat from my college days.