College Housing House Hack Help

[Jeffery Still]

Hi,  I am looking for my first multi family to house hack and i:m close to a college. I am curious about setting up the lease. I have heard that people that are doing the same have the lease in one students name and then that student has friends move in with them to help with the rent. I am currently looking at a duplex to house hack. Any help on setting up the lease and with any other things to consider with this specialized market would be great!

Much appreciated,

[Michael Henry]

@Jeffery Still kudos to you for thinking outside the box. I would try to find a duplex where I could lease out the whole duplex( top and bottom) at a discount and then sublet the rooms to other students.  There are a few pros and cons to this strategy.  First, you will be responsible for the whole rent amount regardless if your rooms mate pay you or not. When I was in school we paid for the whole semester upfront so this might not an issue. Second, finding a location where it can be done. The best locations will for student housing in the first place so the landlord will be looking to maximize what he charges for rent. 

The pros should be obvious which is the increased cash flow from the difference in what you pay for the whole duplex and what your charge per room. It would be a success even if you could end up living rent-free. 

I hope this helps.