Student housing in Pennsylvania

[Kim Alvarez]

Hello I am  pretty new on being a landlord.  I am located in  Bethlehem Pennsylvania I own 2 regular properties that I rent out through Section 8 in Allentown p.a  I live by a few colleges and I'm interested in buying a house and making it student housing but I do not know where to start can somebody tell me what I need to do if I decide to buy this house to make it into student housing. 

1.Does anybody have opinion on if it is worth or better than regular rental 

2. What kind of insurance do you need.

3.How do you manage the electricity and heat does it get split up between the students.   

4. Do you rent the house at one price and all the students  have to split it or do you rent the house by rooms . 

5. Are there any legal permits agreements you have through the city to make a house student housing

Any ideas or suggestions would be greatly appreciated located in Bethlehem Pennsylvania by Lehigh University

[Matthew Forrest]

@Kim Alvarez

Hey Kim! I graduated from Lehigh University 5 years ago ago and that was before I knew anything about real estate. My biggest financial regret was not buying a property to live on while I went there because of how much cash those properties threw off. I was living in a house that cost $125 and it was renting for $3000+ per month. Since then a few companies have come in and bough up a lot of the nearby houses, but I think the price to rent ratios are worth it. If you can stomach the damages from the inevitable off campus parties the properties can make good investments. Tenants paid the utilities and I’m not sure about any laws or insurance issues you’d face. Let me know if you have any other specific questions about the area!