Buying vacant college rental units after start of school year?

[Andy Brown]

Looking at a vacant 6 unit that is in ideal location for renting to students from the local liberal arts college. In light of the deal not closing until Sept/Oct, I was wondering if anyone had any suggestions how to try and rent it out. Try to find stray college students mid-term? Find miscellaneous tenants through July and then non-renew? Keep vacant and fill with students as able? Curious if anyone has encountered this. Thanks!

[Chris Svendsen]

I bought a unit that housed 3 students. It had one occupied, put in contract needed at least 1 more signed lease to close and I could market while waiting to close for a 3rd.  By time I closed had 3 students.  2 years later no students as area I am in market changed drastically and now more commuters going to the school and a massive complex got built right next to school.  Now rented to a family. Might ask yourself why empty so close to start of school and if can still profit if can't get students in it. Other than that advertise and make it nice.  Mom and dad love spending money on a nice place, not so much on a less than nice place.  They want to make sure the kids have a good place to live.