Rentals in College Towns

[Kolten A Postin]

I am looking to dive into the rental property game and have been drawn to larger single family homes (4+ bed) near college campuses.  There are some obvious pros and cons to this strategy but would love to hear feedback on the approach. 

[Tina Tsysh]

Renting out to college students has its pros and cons. 

Pros

- homes near college towns typically experience good appreciation 

- there is always demand for student rentals (unless class are 100% online)

- turnover is very fast. Typically college students who are leaving their houses tell their friends about availability. You can ask offer them upon leaving to find a replacement for some bonus 

- can always put parents on the lease as well for insurance purposes

Cons

- depending on who you are renting to, can damage your property 

- if you get stuck with partiers, your neighbors will hate you

- if renting by room, a roommate conflict can cause some vacancy

In my opinion, the good outweighs the bad. Carefully screen your tenants and make sure to put the parents on the lease!