Student Apartment Property Opportunity

[Tiago Martins]

I am thinking of purchasing a property with a 2/2 house (900 sq ft) with an extra building on the property that has two rooms that are 300 sq ft each. It is near a college, so I was thinking of turning the house into two separate one 1/1 units, and the other building into two 1/1 or bungalows. These would all be student housing at around $400-500 each a month. Are there limits to how many leases can be on one property? I am not sure of the legality. Who would I ask, locally?

[Mike McCarthy]

I would start with the zoning department. They will help confirm that your extra building is legally permitted, and will give you the easy answers about what you can do with it.

To change it into separate units may require approvals or variances, but they will be able to point you in the right direction.

Might be easier to keep it a 1-unit, 2bedroom where two friends would share it. One bathroom, one kitchen, one lease, etc.