La Jolla Condo with a land lease with SDSU hasn't sold. Pivot to corp/student rental

[Huggy Ford]

I own a property across from SDSU 9793 Keeneland Row, Blackhorse community La Jolla 12 years paid off. Been listed for 5 months for sale, but it's is a land lease now with 29 years left. Has potential buyers shaky. Did a 125k upgrade to unit, but now need to make income.  The question is do I rent to students or corporate? We had it for our kids while going to school . Any help would be appreciated. I'm also thinking of turning a room downstairs into a bedroom with a simple wall.

[Ken Maguire]

Huggy, 

Great question. The answer would be partially dependent on what are you looking to get out of it for rent and what type of risks are you comfortable with?

One thing to consider for students is would you want to only lease for the school year and then rent for the summer? Or just require a full year lease to students? Your returns could be increased if you are willing to rent it by the room to individual students. 

As for a corporate rental you can also see strong rental income with a little less risk since you would be renting to a corporation and they would be on the lease. 

Happy to discuss further on a call if that would be easier for you. 

Cheers