At the moment, the bigger expenses will be furnishing the units (they will be updated for off-campus housing for a local college) and paying utilities.  

Saves on utilities!

Do they include features like utilities or a pool?

If yes, get it done.Some instances where a cost segregation will help1) rental losses would not be considered passive - Real Estate Professional Status or STR being considered active2) You sold another property that generated passive gain that you want to minimize3) Your income is below $150,000 and you can utilize some of your rental losses.

Don't forget to convert the utilities to yourself if they are separate.A landlord best practice is to always change the locks when there is a turnover regardless of the tenant returning the keys to you.

Treat each showing as practice (estimate rents, note needed repairs, and ask about taxes, utilities, and tenant profiles).Also, keep saving aggressively while you learn.

Likewise as it pertains to STRs having your financing, agent/broker, management, budget (including utilities and launch costs) and unemotional attachment to the outcome can pay dividends.

They’re coming in roughly 30% higher than existing stock, with no utilities included beyond trash.

Good tenants who want to stay are worth thinking carefully about.I’m Lucas with Howzer Property Management in MA, and we see this come up a lot.One-year lease — prosMore flexibility to adjust rent annually as costs changeEasier to pivot if your plans for the property changeKeeps leases aligned with market cyclesOne-year lease — consSlightly higher turnover risk, even with good tenantsMore frequent renewals and paperworkTwo-year lease — prosStability and predictability (especially if they’re strong tenants)Lower turnover risk and vacancy costsLess administrative workTwo-year lease — consRent can lag market if costs jump (taxes, insurance, utilities)Harder to correct if the tenant situation changesLess flexibility if your plans changeWhat we usually recommendIf you’re going to do a two-year lease, protect yourself:Build in a rent increase for year twoOr include a mid-term rent adjustment tied to operating costsMake sure maintenance responsibilities are crystal clearIn Massachusetts especially, expenses rarely stay flat for two years.For owners who value flexibility, a one-year lease with a strong renewal history often ends up being the sweet spot and what we recommend.

That is an included utility because its provided by the municipality.