Student rentals - Steps to follow and best practices

[Murali Mudddan]

We have a property in Pittsburgh and its rented to students. we are seeing some challenges this year. I want to understand the steps to follow for students rentals and what are best practices that i can follow to avoid troubles. Some of the issues we have seen not paying rent on time. Not keeping the property well. ? How do we make overcome all this, do good background checks and make them more responsible etc.

[Will Gaston]

@Murali Mudddan there are plenty of articles/threads on student rentals on BP. This one may be helpful to you:

https://www.biggerpockets.com/forums/52/topics/491641-nearing-1-000-college-student-tenants-heres-what-ive-learned

In my experience, it is very difficult to deal with students retroactively. I'd just try and get through it. Moving forward I would recommend having a meeting prior to lease signing to review your (and their) expectations as to what living at the property should be like. We do this with all of our students and have found it to be very helpful.