What are the Rules/Ordinances in Your College Town?

[Will Gaston]

All:

As an investor in the student rental market for over 13 years, I have increasingly seen new investors purchasing student rental property without finding out what is and what isn't allowed in a college town (full disclosure: I was one of these when I bought my first student rental property). I'm sure there are plenty of markets where there are no specific rules but am curious as to other markets out there.

Is there an unrelated persons ordinance in your market? If so, what is the maximum number of unrelated? Any other caveats?

My market of Columbia, South Carolina allows for a maximum of 3 unrelated persons.

Side note: The current Governor of SC, Henry McMaster, owns quite a bit of student rental property in Columbia and tried to get the 3 unrelated persons ordinance overturned in 2011. It was upheld by the SC State Supreme Court: McMaster v. Columbia Board of Zoning