Student Tenants - College Town Income Property

[Jeff Weissman]

I would love to hear from anyone who has owned income property near a college or university for at least 3-5 years and has experience renting to college students. Does the annual turnover kill your cash flow? Certainly, if the ppty is professionally managed, every turnover will result in lease-up fees. In addition, I suspect there will be much higher annual expenses for things like paint & carpet than would be the case in an income ppty with stable, long-term tenants, correct? Also, is there greater risk that students will ruin the place with parties & irresponsible lifestyles? Will these (& other?) factors take what looks on paper to be a good investment with positive cash flow & turn it into a losing proposition?