Posted in Blog  
  on Sep 04, 2014

Pros And Cons Of Renting To Students

One of the biggest rental demographics that exist every year is that of the college student. Students can sometimes live on-campus, but many prefer to live in an apartment, condo, or small home off-campus because it best suits their needs. Renting to students can sometimes be challenging, but if you know the pros and cons of doing so, you'll be able to have a profitable experience and high occupancy rates year after year.

Pros: Students Are Always Around

If you have rental properties in a college community, then you will always have a population that is looking to rent. Students are always around, except during the summer months in some instances, which mean you'll have at least 9 months of rental income each year at minimum. You might even consider structuring your leases to accommodate the local school scheduling to make your rental properties more enticing to the students.

Cons: Students Are Complaint Generators

Students typically live a lifestyle of late nights, early mornings, and a lot of noise. For more traditional residents in your rental properties, this can become a big problem very quickly. If the music is blaring at 3am and someone needs to get up at 5am to go to work all day, it isn't unreasonable to want to be sleeping at that time. Structure your rental agreements to list specific student complaints that are common, such as loud noises or messy homes, so that any eviction you might have to do can be done quickly.

Pros: Money Is Generally Available

With students, you typically have a better guarantee of monthly income because they either have a scholarship from their school that can be used to pay their rent or they have parents which will vouch for them. If you're concerned about the income levels of a particular student, consider having the parents co-sign on the lease so that you've got a back-up option in case the student fails to pay the rent on time.

Cons: Students Have Lots of Visitors

Many rental agreements allow for 14 days of occupation from a relative or a friend each year, but that's hard to enforce with students. There are so many people who typically come and go because of study groups, relationships, and yes – parties, that knowing who is in the property at any given time can be rather challenging! Include text with your rental agreement that can limit this traffic as much as legally possible to preserve the income you can generate from the property.

Pros: You Get To Make Money

Students provide a quality source of rental income, especially if you've got an insurance policy on your properties that will cover damages. This means you can charge the students the policy premiums, have payment coverage to restore your property, and enjoy the money coming in around the first of every month when school is in session.


The Landlord Tenant Board: What it is and When it is Needed

Many times, there are issues between a landlord and a tenant that need to be resolved but are failed to do so, because both parties have gone too far with their actions, and have retaliated in the... More

How to Create a Residential Lease Agreement

Where there is a landlord, there will also be a tenant, and it is no surprise that these two parties can only work together once there is some sort of agreement, contract or a binding deal in place.... More

The Best Sites for Rental and Lease Agreement Templates

Many landlords find it difficult to write and draft a lease agreement. Since every State has its own general template, it can also be difficult to make sure your lease agreement meets all the criteria... More

The Best Landlord Associations for Landlords to Join

If you’re a landlord and want to manage your business in a better way, you should endeavor to get in touch with those industry experts who have the experience and the skills to help you do it. This is... More

Unpaid Rent

When you talk about the most common disputes arising between landlords and tenants, nonpayment of rent has to be there in the list. People rent their properties to earn money, and when a tenant... More

Section 8 Landlord Pros and Cons

If you have ever rented a living space and have had to move many times, you’d already know how difficult it is to find decent, affordable and secure living premises. A person has to deal with the same... More

Landlord Inspection Checklist: Rights, Letters, and Reports

Landlords across the state have the prime responsibility to make sure they inspect and up keep their property once they have rented it to the tenants. Inspections can occur monthly or yearly depending... More

Landlord Maintenance Costs and Responsibilities

Everyone knows that a landlord’s job is not easy. These folks have specific duties and responsibilities that they must perform in order to be fair. Being a landlord is not a position but it is, in... More

When to Withhold Tenant Security Deposit

Asking for a security deposit is quite common in property dealings. The reason to ask for a security deposit is to have something that would help a property owner recover some of their financial... More

How to Report Bad Tenants

Bad tenants are the worst-case scenario for any landlord; no one wants them, and if someone has them, they want them out in any way possible. There are times when landlords try as much as they can to... More