Rentals near a university??

[Trevor Cox]

I've been trying to think of the pros and cons of owning a SFH or MFH that is near a university, meaning the tenants will most likely be students. Obviously there is the risk of college students trashing the place, but I feel like it wouldn't be as hard to find tenants. Does anyone have any history with campus rentals? Other pros and cons?

[Mark Trebor]

I have 18 SFH near a University I have never had a house trashed and I have never had a house vacant either. The houses rent themselves, friends of friends line up to rent the house for the upcoming year. We have a very simple model keep the houses in a condition that you would live in them yourself. Fix the small things if somebody sees a hole in the wall what's the big deal if they add a second or third hole. Broken window? Why not two broken windows.... you get the picture. Some simple advice, rent the house not the bedroom, make the students sign the lease and keep their parents out of it (in other words don't have their parents co sign) we really never have a problem with late rent. Occasionally somebody gets lazy but that is rare. We rent for all 12 months and have a very generous sub-lease arrangement. We discourage pets by having a pet fee. If the cops get called let them know you know about it and that you will kick them out of the house if needed. Treat them like the adults they are, behaviors have consequences. Don't speak to their parents when they call complaining about a feature of the house they do not like. Have them meet the neighbors. I could go on and on. ..