Student Rentals - Cortland NY

[Joe Scheffold]

Hello,

My buddy and I are considering purchasing a house with the intention of renting it to SUNY Cortland students. Fully rented, it would cash flow very well. It is a triplex so I don't anticipate it being a massive frat party type of issue. One of our immediate concerns is the school year is just starting now. I am just looking for others who may have experience with this type of investing and if in your opinion is it worth potentially floating the house for almost a year until next school year? I know month to month leases could be an option for the time being as well.

[Michael Carter]

I went to suny Cortland for my bachelors. You’re right in that everyone by now has their housing situation figured out. But that’s not necessarily true for the spring semester which starts mid January. Potential tenants could include students who didn’t like their fall house/roommates, students who didn’t have off campus housing in the fall, and students who are newly eligible for off campus housing. I think it’d be worth holding for a few months until January  

Also fyi a lot of students pay by semester all at once, once they’re refund checks come in which can be a couple weeks after classes start.