College housing summertime

[Anthony DelVecchio]

If you rent out a single-family home room by room to college kids, what do you do in the summer when the students move out? Do you just have to pay the monthly payment yourself?

[Zachary Ware]

There are a few options. 1)The best return is likely in doing a STR or MTR but it does depend on the market. Is the only demand of the town the school? If there is nothing else to attract tenants, a MTR is likely your best option. 2)There will be students who are staying over the summer for internships, summer classes, or work. If the market has other things to attract tenants STR might be your best route. Even without non-university-related demand, there will be families who are doing college visits during the summer and likely summer orientations. I would look deeply and even contact the university to see what they have going on in the summer months. 3) But before you consider this, I would find out what the common student lease term is in the market. Some will do annual leases whether the student will be in town year-round or not.