Background checks necessary for student housing?

[Kristie Eddy]

Hello BP! I am a newer investor and have added a multiplex recently to our portfolio that will be rented to college students. I want to ask whether or not other landlords or property managers are running credit and background checks on college students. We did not with our first tenant group on our SFH but with this multiplex, I'm wondering if we should. Any thoughts or advise for these college student rentals would be much appreciated!

[Peter Tverdov]

I manage student rentals. Never do background checks, there is nothing to check. They have no credit. Typically I need to speak to their Landlord, if Landlord approves they're fine. If no prior Landlord their parents must co-sign. Sometimes I don't do a co-signer but that's not the norm. Regardless, they need to follow all my directions during the screening process (show up on time, confirm appointment as I requested, not say anything stupid) and I value if they're in studious majors (business schools, engineering, sciences, etc) or sports. No frat guys majoring in communications. I also set the tone when I meet them. I tell them I am strict, will visit the property monthly for cleaning inspections and do not allow parties. That turns off the riff raff who want to treat the place like a glorified frat house. I do well at placing students.