Hi
looking for some input. I own a 3 bedroom home in a nice neighborhood . Centrally located in a college town. Similar houses in this area have been converted to student rentals. The area is not oversaturated. My 3 bedroom house has off st parking with 3 large yards. Its a 5 min walk from Mercyhurst College and about a 10 min drive from Gannon University And Penn State Erie Behrind College.These are the 3 largest colledges in Erie pa. Im thinking this puts this property in a prime location for a colledge rental.
Im currently having the property renovated. should be ready in a week. I Was renting to a guy and girl.Gave them a discounted rent rate in return They trashed my place. lol surprise surprise!
Im figuring if theres a chance its going to get trashed . I might as welll go for the higher student rents.
What would the checklist for a successful student rental look like? Some resources in that area? Thanks for any input!
Charge Rent per room?
Have there parents co sign lease?
Have tenants pay for some kind of renters insurance?
1 or 2 months security deposit? (In case theres serious damage done)
A reputable and qualified Property Manager in Erie,pa that specializes in student rentals?
Should utilities (gas,electric,water and trash) be included in the rent or get the utilities put in the tenants name? In general The gas bills up north can get high in the winter.
Any thing else that should be on my list?
