College towns...

[N/A N/A]

Any opinions on renting SFH in small college towns? Pros and cons?

Lease issues with dealing w/ summer school while students leave...
Or even good ideas or incentives that could attract students.

Do you rent rooms as opposed to one lease covering all tenants or a lease for each tenant ?

Thanks

[Paul Cordero]

Originally posted by "titan305":

Any opinions on renting SFH in small college towns? Pros and cons?

Lease issues with dealing w/ summer school while students leave...
Or even good ideas or incentives that could attract students.

Do you rent rooms as opposed to one lease covering all tenants or a lease for each tenant ?

Thanks

Speaking from the renters point of view, when I was in college I rented many homes with roommates, and had many freinds that did also. One thing that college students don't do much is complain about their home, but one thing they are known for is destroying their home (especially young men) and not letting you know when there is a potential problem. You also have to be prepared for angry neighbors from late night partying etc.

I would try to find a local management company to help you with the property. They do inspections every 6 months, and make sure that the house isn't getting trashed, as well as notify you when the police make numerous visits to the property from excessive partying. They will also ensure that the home is completely ready for new renters when the lease is up.