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Updated about 4 years ago,

User Stats

63
Posts
22
Votes
David London
  • Rental Property Investor
  • Queen, NYC
22
Votes |
63
Posts

Student Housing Security & 1st Month Rent Question

David London
  • Rental Property Investor
  • Queen, NYC
Posted

I own a student housing rental in a university where most students sign leases about 8-9 months in advance (signing around October for a lease that starts in June of next year). 

My question is, at which point do most student housing landlords collect the security and 1st-month rent in this situation?

My PM doesn't have much experience with student housing and one of the parents is questioning why do they have to sign a lease so far in advance. From what I gather following the listing of more established landlords, leasing in advance is a common practice around there but I don't know if rent and security are being collected as well.

Appreciate any advice.

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