What would you do?...

Question

Phillip Y. · Answer

Gotcha, thanks. I knew quite a few folks living there early 2000s

Jimmie Dickey · Answer

@Phillip Y. The Harmon duplexes.

Dave Meyer · Answer

Since Baylor is a large University, you could try to advertise through some of the graduate programs. Grad students are probably more mature and less likely to through huge parties or do damage to the property.

Phillip Y. · Answer

@Jimmie Dickey, which area off campus are you referencing going section 8?

Jimmie Dickey · Answer

X2 on what Eugene said. The City of Auburn has actually begun a moratorium on any new projects due to the incredibly flooded market. The University itself has really expanded and upgraded on-campus housing in addition to larger developers coming in and building just a ridiculous amount. There is a section a mile or so away from campus that was the best thing going 10 years ago.....now however, it is mostly section 8 housing.

Not that this will happen everywhere, but definitely a cautionary tale.

Kelly N. · Answer

I invest in a town with lots of college students, about 50% of our tenants are students. All our buildings are within walking distance to the local U, and many students drive to the community college (more of a commuter school) but like the atmosphere close to the bigger campus.

You'll want to check the local city to know what you are up against- ours has a rule that no more than 3 unrelated adults can live together. So far it hasn't been an issue for us, and doesn't seem to be very strictly enforced, but in some places it is.

Cave Johnson · Answer

You could probably call the housing department at the school and get some information. I would think most students at Baylor have cars and could go further away from campus. But remember, these are college students and they might not want to live in a residential neighborhood full of couples with children playing everywhere and the home owners might not want the college kids in the neighborhood either!

Robert Melcher · Answer

If you do commit, every roommate should be on the lease and every one should have a cosigner. I would also only do a year's lease, perhaps August to August. If they move in late or leave early, you save on wear and tear and may have more make-ready time.

Eugene Kemp · Answer

University towns can be dangerous, but I'd stay within walking/biking distance for best returns and occupancy rates. Just got out of a long term college town nightmare in Auburn, AL. Developers have so overbuilt the rental market and the Parents/kids these days want such lavish accommodations that anything not new and shiny with a gym and a pool won't move as easily!

What would you do?...

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