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Updated 6 months ago on . Most recent reply
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Student housing rentals, where to start, what's the best.
Hello everyone, I am recently graduated from ASU. I am some experience in real estate and am currently working for a brokerage. After 4 years of paying landlords rent, I would like to start in investment real estate. I just want to find out what is best for student rentals? What advice would you give? Are there certain types and size of properties are best? Obviously I think closer to the school the better, but are there certain neighborhoods that are better than others?
Thank you,
Jimmy Clays
Most Popular Reply
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Hey James,
Congratulations on your recent graduation from ASU and your entry into the real estate field! Starting in investment real estate, especially with a focus on student rentals, can be a rewarding endeavor.
Single-Family Homes: These can be a good starting point, offering flexibility and potentially lower upfront costs. They appeal to students looking for a more private and homely living situation.
Multi-Family Properties: Duplexes, triplexes, and small apartment buildings can offer higher rental income and spread the risk across multiple tenants. These are typically more expensive but can be more profitable.
Condominiums and Townhouses: These can be lower maintenance compared to single-family homes and multi-family properties, as HOA fees often cover exterior maintenance. However, be mindful of HOA rules regarding rentals.
Proximity to Campus: Properties closer to the university typically attract more interest from students and can command higher rents. Consider properties within walking distance or with easy access to public transportation.
Safety: Neighborhood safety is a priority for both students and their parents. Research crime rates and choose areas with a good reputation.
Amenities: Look for areas with access to amenities such as grocery stores, coffee shops, gyms, and entertainment options. Students appreciate convenience.
Growth Areas: Consider neighborhoods that are up-and-coming or undergoing revitalization. These areas may offer better long-term appreciation potential.
Specific Neighborhoods:
Research Local Demand: Talk to current students, university housing offices, and local real estate agents to identify neighborhoods with high demand for student housing.
Check University Plans: Universities sometimes have expansion plans that can affect housing demand. Stay informed about any new construction or development projects.
Investing in student rentals can be a lucrative niche if approached with careful planning and research. Best of luck with your investment journey!