Student Rental Timming

[Connor Castillo]

Hi all,

For anyone who has student rentals I would love your advice! I have had a lot of success purchasing 5 bedrooms houses next to larger universities and have been able to easily find tenants. However, I just purchased a 5/2.5 perfectly situated next to a larger university in Chattanooga and it has been very hard to find tenants. I am wondering if this is just the wrong time of the year. Really if I could sign a group up for 2025 I would be very happy with that and would just try my best to do month to month until the new school year. 

My question is should I just suck it up until April, or should I drop my rent rates now to get renters. I know if I do not rent to students, we will not get even close to the type of rent we are looking for, but paying the mortgage with no rent is hard on my family and I. 

Thank you!