College rental by the bedroom, do's and donts???

[Emillio Henry]

Hey everybody,

So im currently getting a house under contract that has been college rental house for the longest at least 10 years. I'm going to BRRRR the property and im trying to figure out how to add value beyond the obvious like increasing bedroom count. i currently considering adding three additional bedrooms, add coin operated washer dryers with vending machine for soaps and what not, Cleaning service weekly or bi-weekly. what are some value adds or tips others have done? should i furnish the house with commercial grade couches, TV in common room, Bedroom furniture? bed, dresser, and desk ?

ill be renting by the bedroom btw.

I hope im not over thinking this lol 

Thank you so much for any advice and information you guys can give me,

-Emillio

[Cody Hunter]

Emillio,

We operate an 8 bedroom rental in a college town-rented by the room. We do not provide washer or dryers. The space is furnished with appliances only. While we trialed a bi weekly cleaning service, minimal difference was noticed as our tenants do a good job of keeping the place clean. However we deep clean occasionally. With all that being said, in the past several years, we have had no vacancy with average expected turnover. 

Personally I would offer the washer and dryer "free" and budget accordingly if you plan to pay utilities. Next, keep your expenses low by not furnishing, unless tenants seem to request this. You don't want to deal with these little items as you grow. In our experience it doesn't effect rentability. People typically bring their own items and figure out how to share the common spaces. Every item added is more time you potentially will be spending dealing with issues.